The Every Kid Counts (EKC) College Savings Program.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Pending Referral
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill makes minor changes to the Every Kid Counts (EKC) College Savings Program, which provides grants to local governments and other entities that run programs to help families, particularly low-income families with young children, establish college savings accounts. The program aims to support children in kindergarten through sixth grade and encourages evaluation of the programs’ effectiveness. The Student Aid Commission will distribute grants based on factors like the number of eligible entities, available funding, and the proportion of low-income families served.
Key provisions
- Establishes the Every Kid Counts (EKC) College Savings Program.
- Requires the Student Aid Commission to administer a grant program for local entities sponsoring children’s savings accounts.
- Grants can be used for seed grants, matching grants, or incentives for individual accounts.
- Grants can support outreach to educate families about college savings programs.
- Funding can support an evaluation consortium to monitor program effectiveness.
- Eligible entities must have a college savings program in place or under development.
- Entities must have funds to support their program beyond the grant.
- Entities must agree to participate in an evaluation consortium.
Who is affected
- Local governments
- Nonprofit organizations
- Families with young children (particularly low-income families)
- Students in kindergarten through sixth grade
Bill text
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Sponsors
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1 on record
Primary sponsor
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