Child Saving Account Program

The First 5 Futures Program is no longer accepting new enrollments.

Families with an existing First 5 Futures account can continue to access their account here.

First 5 Futures provided eligible children ages 0–5 with a free college savings account funded by First 5 Sonoma County through grants from the City of Santa Rosa and the California Student Aid Commission. Eligible participants received up to $700 to support future college or career education expenses after high school graduation.

FAQ FIRST 5 SONOMA COUNTY

Frequently Asked Questions

First 5 Sonoma County’s First 5 Futures Program envisions that every child age 0-5 (beneficiary) will have two savings accounts. First 5 Sonoma County will setup the first account for the child with ScholarShare529. ScholarShare is a 529 college savings plan for the State of California. First 5 Sonoma County will use this account platform to invest up to $700 in an investment plan for every child who is participating in a First 5 funded program offered at a Family Resource Center with the opportunity for additional incentives after completing a qualifying program.

The second account can be established directly by a parent or guardian of the child. First 5 Sonoma County has partnered with Family Resource Centers across Sonoma County to assist families in setting up individual college savings accounts.

Parents or guardians will be able to access account balances on both accounts through Outcome Tracker, a designated program management system.

Research shows that children from families who save between $1-$499 for education are 3x more likely to attend college and 4x more likely to graduate, compared with those with no college savings.

When you save and invest now, the money you save can grow and be worth much more.

A 529 plan is a tax-advantaged investment plan designed to help families to save for a beneficiary’s (typically one’s child or grandchild) future higher education expenses.

Scholarshare is the California State 529 plan, a tax-advantaged investment vehicle designed to encourage saving for the future higher education expenses of a designated beneficiary.

It’s easy. Most families enroll online at ScholarShare529.com. Paper applications are also available if families prefer.

What you will need:

  • The date of birth and Social Security or federal taxpayer identification number (ITIN) for the beneficiary and account owner.
  • The date of birth for the beneficiary account owner, should you choose to designate one.
  • Select an investment portfolio that matches your investment saving objectives.
  • If you are enrolling in a recurring contribution program, you will need the account and bank routing number from your checking account.