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Melania Trump unveils investment accounts for foster care youth

Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyle(Getty)Melania Trump and Treasury Secretary Scott Bessent unveiled "Fostering the Future Accounts," a new initiative providing a $1,000 initial deposit for eligible newborns, particularly those in foster care. The program, a spinoff of the existing Trump Accounts investment funds, aims to give children a crucial financial head start and addresses challenges faced by the 330,000 children in the U.S. foster care system. Melania Trump announced new federal guidance empowering child welfare agencies to act as guardians, facilitating account openings for children under their care, with accounts set to open for contributions on July 4. To qualify, a child must be a U.S. citizen born between January 1, 2025, and December 31, 2028, with estimated balances potentially reaching $18,100 by age 28 without further contributions. Twenty-three governors have pledged to allow state agencies to begin enrolling children, and the broader Trump Accounts program has received significant pledges from philanthropists like Michael and Susan Dell. In fullMelania Trump announces spinoff of Trump accounts for kids in foster careThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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