LAUSD College Savings Program Will Be Largest of Its Kind
The Los Angeles Unified School District has unveiled what is expected to be the largest school district college savings program in the nation. Opportunity L.A. was rolled out Friday, May 21, and will be made available for all LAUSD first-graders in the fall.
Operation L.A. is a free college savings account created through a partnership between LAUSD and the City and County of Los Angeles. The City Council embraced the idea of a college savings account program in 2017. San Francisco has a similar program.
Beginning in June, 13,000 first-grade students will receive $50 in a deposit-only college savings account. The very first recipients - from 196 of the district’s 1,413 schools - will be selected based on the district’s Student Equity Needs Index.
Students will automatically be enrolled in the program. Families can choose to opt out.
According to EdSource, the cost of the program will exceed $666,000 in its first year.