According to the California State University website, on average, CSU tuition can cost over $6,000 per academic year. At a UC, the average annual cost of tuition can be over $15,000.
That's why parents in San Luis Obispo say they started saving for their children's college funds early.
"We started college funds for our kids, basically when they were born, and I think recently we started putting even more into their college funds," said Madeline Kacsinta, a mom of two.
"When each of them were born, we opened up a 529, I think, the college fund. And we do like $100 a month into each account just automatically, which I know probably isn't enough, but it's something to start", said Kendall Andrechek, a mom of 3.
Her kids are 6, 8, and 11 and she hopes saving early will help them reach their goals.
For some families, though, the cost of saving for the future can be overwhelming.
"I have, like, a nephew that just started college this year, and it's just crazy to imagine those costs, like coming up like, threefold for us," Andrechek said.
A state-funded program called CalKids provides money for kids to start college savings accounts.
"Years of academic research tells us this, that children with $500 or even less designated for college savings are three times more likely to enroll in college and nearly four times more likely to graduate compared to children without any savings, so this program is just a huge boost for kids," said James Millward, a spokesperson for CalKids.
He says the program is relatively new, and they are trying to encourage more families to sign up for it.
If your child was born after July 2022, you are automatically eligible for the funds.
"There's up to $100 that goes into an initial state deposit. And again, this program is automatic enrollment, so they don't have to apply for this program," Millward said.
He adds that kids born before 2022 are also eligible for funds, which can all be signed up for on their website.
"The great part about this program is they don't have to do anything. It's the easiest scholarship," Millward said.
To find out if your child is eligible, click here.
