45,000 students in Los Angeles are getting $50 each.
The money comes deposited in a children’s saving account.
Why are they giving out money?
Under the Opportunity L.A. program, the city of Los Angeles has partnered with Citibank to help students start saving. The money has been provided to first graders to provide them with a chance to save for higher education. Find additional information here.
The program started in the spring of 2021 for first grade students. They were selected from high-need Los Angeles Unified School District (LAUSD) schools. The goal has been to reduce educational and economic inequality.
Research shows that children are seven times more likely to attend college if they have a savings account, regardless of their background.
Savings accounts are available to students regardless of their parents income, background or immigration status. Students and their families can make additional deposits in person or online.
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