HOPE Trust Accounts

HOPE Trust Accounts (California Hope, Opportunity, Perseverance, and Empowerment for Children Trust Account Program)

Website: hopeaccount.ca.gov | State Treasurer info: treasurer.ca.gov/hope

The HOPE Program was created to address the wealth gap and disrupt cycles of intergenerational poverty by establishing trust accounts for some of California’s most vulnerable children. The program provides a $3,000 trust account to eligible youth, funded by the State of California.

Who Is Eligible?

• Foster youth:
  • You were a California resident and in foster care on or after September 27, 2022.
  • You were placed in California or tribal foster care for more than 18 months (18 months don’t have to be consecutive) and are no longer receiving Family Reunification Services, or you were placed in foster care after age 16 and Family Reunification Services have been terminated.
  • Youth must be 13 years or older to self-apply. If youth are under 13, a legal adult must complete the application.

Note: Eligibility for Foster youth is determined by the Department of Social Services (CDSS). All foster youth who believe they qualify are encouraged to apply. COVID-bereaved youth: 

• You lost a parent, legal guardian, or Indian custodian to COVID-19 contracted during the federally declared public health emergency (January 31, 2020 to May 11, 2023), and
• You were under 18 and a resident of California when they passed, and
• Your family’s income was below the Medical for Children limit

How Does It Work?

HOPE staff work with the California Department of Social Services and the Franchise Tax Board verify eligibility. Once eligibility is confirmed, HOPE enrolls the youth, creates a HOPE trust account, and makes a one-time $3,000 deposit. Funds have no use restriction and can support their transition into adulthood. Participants also have access to free financial education and planning services.