Have you ever looked around at racial disparity and wondered how you could help?
Apparently, someone in the Los Angeles government did. And they came to a conclusion.
Hence, on Friday, officials announced a new program for kids.
In partnership with the City and County of Los Angeles, the L.A. Unified School District will be taking tax funds and handing them to first graders — via an account in their name.
Per its website, the Opportunity L.A. program is “a free college savings account…for Los Angeles Unified School District (LAUSD) first-grade students.”
The site cites the stats:
Students with college savings are:
- 3 times more likely to go to college
- 4 times more likely to graduate from college
But how do you encourage people to save money?
Apparently, you give them money.
And start ’em when they’re young:
A children’s savings account can help you and your child save money for their education after high school.
Therefore, the program will gift $50 to every first grader enrolled in LAUSD schools.
“Additional deposits,” the site says, “can be made by students and families in person, at a branch and online.”
A video on the page illustrates how it all works.
Does your town have a Center for Financial Empowerment?
LA does. Its insignia’s displayed in the lower-right corner of the cartoon.
Here’s how a city empowers its people financially:
The video makes clear, “Savings accounts are available to the students, regardless of the students’ or parents’ income or immigration status.”
So how many kids will be getting half a Benjamin?
Per EdSource.org, “The first deposits will be made in June for more than 13,000 first-graders deemed to be in greatest need in 196 of the district’s 1,413 schools.”
From there, it goes districtwide:
The program…is set to become the largest school district college savings program in the nation once it enrolls all first-grade students attending district schools. L.A. Unified, the state’s largest school district and the nation’s second-largest, enrolled over 35,000 first-grade students by the beginning of the current school year.
Initial brass tacks:
The cost to fund students’ savings accounts during the first year would exceed $666,000, plus administrative, outreach and other related costs.
If you ask me, with that kind of budget, they should’ve sprung for some snazzier narration.
And in case you were wondering: 35,000 x 50 = $1,750,000.
“This is an investment and a vision, to not just say you’re important, but to prove it by putting the resources in the pathway in all of our zip codes for all of our people.”
The measure’s only just, due to racism:
“This is about racial justice. This is about economic opportunity.”
And it’ll stimulate the economy:
“This is about a stronger economy.”
From the sound of things, no one’s going to have to pay for college; this was Eric’s message to students in attendance:
“You can concentrate on your studies. Don’t worry about being priced out of an education.”
In other words:
It was a bold promise, considering his term ends in 14 months — and current first graders won’t start college for at least 12 more years.
But so goes politics.
And most certainly, so goes LA.
But good for the new generation — if only you’d been given $50 when you were 6, you might’ve gone to college for free, too.
Onward and upward, California.
And for the kiddos, that fifty bucks is like Christmas.
College, here y’all come–
University Lecturer Cancels Racist Children's Songs, Including 'Jingle Bells'
— RedState (@RedState) April 19, 2021
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