We’re raising awareness of a new California state program that’s confronting intergenerational poverty.
Thousands of children in low-income families lack access to wealth, which studies show is the biggest predictor of future financial success. As one of the country’s first statewide child trust account initiatives, the California Hope, Opportunity, Perseverance, and Empowerment (HOPE) Program is specifically catered to vulnerable children.
By combining individual accounts with age-appropriate financial planning, HOPE will become an important part of the state’s strategy to reverse economic inequality and close the racial wealth gap.
Loma’s role is to inform the public, encourage youth enrollment and advance partnerships with local government and vetted community-based partners. In addition, we’re helping to facilitate a key aspect of HOPE—direct input from a range of young participants to ensure the best program possible.
“I never had resources for food and stuff. Being in foster care and exiting out will be very expensive. So, [this would be] a steppingstone to get on your feet if you use it correctly.”
--Kameron, Youth Panel of Experts
Financial literacy is foundational to personal and community success. HOPE is the first step on the journey to fulfillment.
