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Every Kindergartner Gets $50 Saving Account In Oakland Leader's Proposal

OAKLAND (KPIX 5) – Some Oakland leaders want to give every student entering kindergarten a college savings account. It sounds like a noble idea, but critics said the city has more pressing needs.

Instead of K-12, some Oakland leaders want students to think kindergarten to college.

"Changing the mindset of a young person, that regardless of whether you're growing up in a high-income household or a low-income household, we have the same expectations for you," said District 4 Councilmember Annie Campbell Washington.

Campbell Washington wants Oakland to help students go to college by giving a financial boost from the start, $50 for every kid entering kindergarten in the school district.

"Kids with a college savings account are three times more likely to graduate from high school and four times more likely to graduate from college," Campbell Washington told KPIX 5.

San Francisco was the first in the nation to start a similar program in 2010. The city council member believes investing in youth will pay dividends for Oakland's future.

"We need a holistic strategy around education and public safety here in Oakland," Campbell Washington said.

The proposal would cost the financially-strapped city $150,000 in the first year and likely more in the following years. Oakland Unified would also have to chip in another $150,000 in the first year.

"It's not a good use of money," said Charles Pine of Oakland Residents for Peaceful Neighborhoods, who criticizes the proposal.

Pine said the money should go instead to the underfunded police department or other proven educational programs.

"To me it just smacks of politicking and burnishing a political resume, instead of really trying to do what's best with the limited money that we have," Pine said.

The city council is set to vote on the college savings account proposal next month. If approved, the program would go in to effect in 2016.

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