BSP is Helping Families Secure College Savings

Alejandro Calleja Financial Capabilities Coordinator in Los Angeles provided support to the Ramon-Cortez & Cortez-Sanchez families

At Building Skills Partnership (BSP), we believe that financial literacy is a key component of economic mobility and long-term success. That’s why we are committed to helping families take proactive steps toward securing a brighter future for their children. Recently, through our wrap-around services, we’ve been able to connect families with crucial resources like CalKIDS and 529 ScholarShare college savings accounts.

Breaking Down Barriers to Higher Education

Many working families face financial barriers that make higher education seem out of reach. However, studies from the U.S. Department of Education show that children with dedicated college savings are three times more likely to attend college and four times more likely to graduate. By helping families open CalKIDS and 529 college plans, BSP is playing a vital role in making higher education more accessible and achievable.

Building Connections Through Community Engagement

While assisting members with their tax filings, BSP staff took the opportunity to introduce parents to CalKIDS and 529 ScholarShare accounts. Through these conversations, families learned how even small, consistent contributions could grow significantly over time thanks to compound interest.

We proudly helped the Ramon-Cortez and Cortez-Sanchez families claim their CalKIDS accounts and open three 529 ScholarShare accounts for their children. By taking this important step, they are not just saving money—they are planting the seeds for generational wealth and financial security.

The Power of Compound Interest

One of the most powerful financial tools available to families is compound interest. For example, if a parent starts saving just $25 a month in a 529 plan for their one-year-old child, with an average annual return of 11%, that investment could grow to nearly $15,000 by the time the child turns 18. This small but consistent effort can make a huge difference in covering the cost of higher education.

A Community Effort

BSP is proud to play a role in promoting financial literacy and supporting families in planning for their children’s future. Special thanks to Alex, whose dedication and guidance have helped parents navigate the process of opening these accounts. By providing these services, we are empowering parents to take control of their financial future and creating opportunities for the next generation to thrive.

Looking Ahead

We aim to help even more families open college savings accounts and gain access to financial education resources. Every child deserves a chance to pursue their dreams, and through programs like CalKIDS and 529 ScholarShare, we can help make those dreams a reality.

If you or someone you know is interested in learning more about college savings opportunities, BSP is here to help. Let’s work together to invest in the future of our children and our communities!

For more information, visit CalKIDS and 529 ScholarShare.