California has quietly started rolling out HOPE, a new state-run trust that seeds $3,000 accounts for foster youth and for children who lost a parent or primary caregiver to COVID‑19. The money will sit in a dedicated account until recipients turn 18, when they can either tap it or leave it invested to grow for a few more years. State officials describe the program as a modest but meaningful financial launchpad for young people aging out of child welfare or coping with pandemic loss.
In a press release, the California State Treasurer’s Office said the HOPE program will invest $3,000 per eligible child and that roughly 56,000 children could ultimately benefit, with applications slated to open in late spring 2026. The office has also launched the program website and provided a contact email for questions. For details and the official announcement, see the Hope program.
Who qualifies and how to apply
According to the program website, eligible youth include those who spent at least 18 months in foster care with family reunification services terminated, and children who lost a parent, legal guardian, or Indian custodian to COVID‑19 during the federally declared public health emergency. The HOPE FAQ notes that applicants age 13 and older can apply directly, while younger children can be signed up by a guardian. Once the money is available, funds are flexible and can be used for housing, transportation, education, work equipment, or savings. Apply and sign up for updates at the HOPE program website.
Money, rules and the law
The HOPE program was created by Assembly Bill 156, signed into law in 2022, which set up a HOPE Fund and a board to run it. State implementation documents say the fund was seeded with a one-time $100 million appropriation, with expected ongoing annual support. The law also includes protections so HOPE deposits and investment returns are not treated as earned income for many means-tested programs until funds are actually withdrawn. Read the bill text at California Legislative Information and the program report at the California State Treasurer’s Office.
Pilot rollout shows the program is moving
Local reporting shows Stockton Unified was the first district to host a pilot enrollment event in early May, turning a centralized admissions day on May 6 into an early test of HOPE. More than 100 foster students signed up, according to program and district officials. Participants will have their HOPE accounts held in trust until they turn 18, and the treasurer’s office plans a broader statewide roll-out after lessons from the pilot are digested. See on-the-ground coverage from The Stockton Record.
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