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Education Investments to Change Lives

Idea Category: Education, Equity & Opportunity

Last Friday, Vice President Kamala Harris joined NewDEAL Leader Oakland Mayor Libby Schaaf and other elected officials to launch The Generation Fund, a $50 million investment in the lives of low-income babies and students aimed at breaking the cycle of poverty. The Generation Fund will provide $500 college savings accounts for all babies from low-income families, with a target of creating accounts for 10,000 babies by 2035. In addition, the funding will pay for scholarships of $1000 a year for all low-income public school students pursuing a college degree or a trade certificate with a target of providing scholarships for 20,000 students by 2035. This investment builds on Mayor Schaaf’s long-standing work to invest in vulnerable students through her groundbreaking Oakland Promise program, which address challenges from cradle to college and career. A group of NewDEAL Leaders will have the opportunity to see Oakland’s education work up close, as NewDEAL joins Mayor Schaaf in Oakland on August 29 to talk about quality career pathways and broadband access and discuss lessons learned, best practices, and ideas. Keep your eyes open for posts and takeaways from our trip!