§ 99101. — 99101. (Amended by Stats. 2018, Ch. 7, Sec. 26.)

The Legislature finds and declares all of the following:
(a)
Children who have even small savings accounts for college are three times more likely to attend, and four times more likely to graduate from, college.
(b)
College enrollment among low-income students has risen but significantly lags behind the enrollment of middle- and high-income students. In 2012, about 51 percent of recent low-income high school graduates and equivalency holders were enrolled in college, while enrollment among middle- and high-income students had risen to nearly 65 percent and 81 percent, respectively.
(c)
Recent pilot programs in California and throughout the nation have proven
that low-income people can save if they have incentives and mechanisms encouraging them to do so.

Legislative History

Amended by Stats. 2018, Ch. 7, Sec. 26. (AB 108) Effective March 13, 2018.