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Support Needed for Assembly Bill 2508 (McCarty) to Expand Access to College Savings Accounts for Foster Youth
Assembly Bill 2508 (McCarty), sponsored by JBAY, has been referred to the Assembly Committee on Higher Education, and letters of support are needed. The proposal seeks to expand eligibility to CalKIDS, a California state program that helps children save for college or career training, so that all foster youth in grades one through twelve will be able to receive an additional $500 in their college savings account rather than only students who are in the foster care system during the first grade.
College savings accounts are one of the best, proven ways of increasing the likelihood that a student will go to college. Even with savings of less than $500, a child is 25% more likely to enroll in college and 64% more likely to graduate than a child with no savings. Children born in California on or after July 1, 2022 are awarded a CalKIDS college savings account with an initial deposit of $100. First graders who are identified as low-income receive an additional $500, and first graders who are foster youth or homeless receive an additional $500 augmentation in their account. However, approximately 46% of all foster youth enter the system after the age of 6, leaving nearly half ineligible for this additional funding to help them reach their educational goals. To download a letter of support template or to learn more about the bill, please click here.
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Senate’s Shrink the Shortfall Budget Plan May Soon Come Up for Vote
On March 14, Senate Leader Mike McGuire and Senate Budget and Fiscal Review Committee Chair Scott Wiener released a plan by Senate Democrats to take early action on the state budget, with the goal of reducing the estimated $38-$53 billion budget shortfall by $17.1 billion. The release indicates that the plan may come up for a vote on the Senate Floor as soon as there is agreement with the Assembly and Governor.
None of the Governor’s proposed reductions to foster care or youth homelessness investments were adopted in the Senate’s plan. Of most relevance, in the area of homelessness, the plan approves the Governor’s proposal to delay $260 million in round 5 Supplemental Homeless Housing, Assistance and Prevention (HHAP) program funding, of which 10% would be utilized to address youth homelessness. The plan indicates that the delay should only have a limited practical impact, given grant distribution timelines.
The Shrink the Shortfall budget plan reflects the Governor’s proposed partial use of $12.2 billion from the Rainy Day Fund, leaving roughly $13 billion remaining in the fund to assist the budget in 2025-26 or later. Additionally, the plan makes $17.1 billion in program reductions, revenues/borrowing, fund shifts, delays and deferrals, with the majority first proposed by the Governor.
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Congress Urged to Allocate Funds for National Youth Homelessness Count
Congress must appropriate funds to support a national youth homelessness count every three years, according to a new policy brief from Chapin Hall at the University of Chicago.
The brief, entitled “The Count: Dismantling the Unknown of Youth Homelessness,” follows up the Voices of Youth Count, a national initiative to bring actionable evidence to prevent and end youth homelessness. Summarizing prior evidence from the Voices of Youth Count, this brief makes several policy recommendations to maintain accurate data on youth experiencing homelessness. In addition to national funding, Chapin Hall also recommends updating data collection tools to carry out an updated national count on youth homelessness and passing the Runaway and Homeless Youth and Trafficking Prevention Act of 2023 to reauthorize funding for critical programs.
Chapin Hall also released a data mapping guide this month to help communities identify, catalogue, access and assess relevant data to learn more about youth populations experiencing homelessness. The guide walks through the steps of the data mapping process, which can provide a blueprint for using administrative data more effectively and efficiently.
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Universal Financial Aid Completion Policies Shown to Increase Application Rates
A new brief by The Campaign for College Opportunity highlights universal financial aid policies from California and other states, demonstrating that these policies increase financial aid application completion, leading to higher college-going rates and more equitable access to college for low-income students and marginalized racial/ethnic groups.
Universal financial aid policies require high school seniors to complete a financial aid application (or opt-out waiver) prior to high school graduation. Eight states, including California, have such policies in place, with four more in process. In California, the universal financial aid policy increased the completion rate by California’s March 2 deadline from 53% in 2022 to 61% in 2023. By September 2, 74.2% had completed an application. The growth was universal; the number of California students submitting a financial aid application increased for every racial/ethnic group.
The brief describes successful implementation practices for universal financial aid across California, including the use of data to monitor student completion of financial aid applications, setting ambitious goals, friendly competitions across districts, and developing collaborations between high schools, colleges, and community-based organizations. To read the full brief, please click here.
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California Student Aid Commission Releases New Chafee Grant Q&A
Last month, the California Student Aid Commission (CSAC) announced significant changes to the state’s Chafee Grant Program. Starting in the 2024-25 academic year, Chafee Education and Training Vouchers will no longer be treated as “other financial assistance” or be counted against the cap on how much financial aid a student can receive. This change will enable eligible Chafee Grant recipients to access the full $5,000 award amount and, in some instances, receive a total financial aid package that exceeds their Cost of Attendance.
To assist Chafee coordinators with preparing for the changes, CSAC hosted a Q&A session, clarifying that the disbursement process will remain the same and encouraging institutions to inform students of the change. To download the Q&A or access the webinar recording, click here.
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