Statement from Treasurer José Cisneros on Governor's $2B statewide College Savings Program

Governor Newsom and K2C

Today Governor Newsom proposed an investment of more than $2 billion in a statewide college savings account modeled after San Francisco’s Kindergarten to College Program (K2C). In 2011 when he was Mayor, Gavin and I launched K2C based on research showing that children with savings accounts will be up to seven times more likely to attend college than those without an account. Today, as a result of Newsom’s vision back in 2011, 46,000 public school students in San Francisco have K2C accounts, and have $8.6 million saved for college. I am beyond thrilled to see this program go statewide, and provide low income students with $500 to start saving for college.