Child Savings Account Grant Program
Child Savings Account Grant Program – UPDATE!
Presently, due to the impact of the COVID-19 pandemic, the Child Savings Account program RFA release is on hold until further notice. Any new information will be posted on the CSA website. Please feel free to contact us at firstname.lastname@example.org if you have any questions.
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 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).
- 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.
- 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.
- Two percent or five hundred thousand dollars ($500,000) shall be used by the Commission to provide outreach and administration of the program.
Who can apply?
- New Programs – CSA programs that are in planning or under discussion, and do not have children enrolled in the program with open accounts at the time of the application submission.
- Existing Programs – CSA programs that are in operation and have children enrolled in the program with open accounts at the time of the application submission.
Request for Applications (RFA)
- The RFA is anticipated to be released in late June to early July 2020.
- To receive updates regarding the RFA, please email email@example.com to be added to our mailing list. Include the following information in your email:
- Your name
- Organization’s name
- Additional email address(es) to be added to our list
If you have any questions, please email firstname.lastname@example.org
Our mailing address:California Student Aid Commission
Attn: Specialized Programs Unit
P.O. Box 419027
Rancho Cordova, CA 95741-9027