Child Savings Account Grant Program

Overview

Child Savings Account Grant Program
Coming soon in January 2020!

The Child Savings Account Grant Program (CSA Grant Program) was enacted in the 2019-20 State Budget (Education Code Chapter 4 added by Stats. 2019, Ch. 53, Sec. 18) to support local governments and nonprofit organizations that sponsor or collaborate on one or more comprehensive citywide or regional child savings account programs.

The intent of the CSA Grant Program is to support local governments and nonprofit organizations that sponsor or collaborate on one or more comprehensive citywide or regional child savings account programs.

The statute allocates twenty-five million dollars ($25,000,000) in one-time General Fund dollars to CSA Grant Program awards. The amount of each grant award shall be at a minimum, one hundred thousand dollars ($100,000).

  1. Up to 74 percent or eighteen million five hundred thousand dollars ($18,500,000) of the funding shall be used to initiate a new local child savings account program. 
  2. A minimum of 24 percent or six million dollars ($6,000,000) of the funding shall be used to expand an existing local child savings account program.
  3. Two percent or five hundred thousand dollars ($500,000) shall be used by the Commission to provide outreach and administration of the program. 

Stay tuned for more information regarding the Request for Application!

If you have any questions, please email csa@csac.ca.gov

Our mailing address:
California Student Aid Commission
Attn: Specialized Programs
P.O. Box 419027
Rancho Cordova, CA 95741-9027