Every San Francisco kindergartener would get a city-funded $50 college savings bond under a plan proposed by Mayor Gavin Newsom, write columnists Matier and Ross.
The idea behind the Kindergarten to College program would be for San Francisco to seed an account for each of the 4,500 children who enter kindergarten in the city’s public schools each year. The students and their families would take it from there.
The money could be used only for college and would come out of the general fund.
All students would be eligible for the $50, regardless of immigration status. However, many illegal immigrants don’t have bank accounts. Newsom, who’s planning a run for governor, is trying to figure out how to deal with that.