First Lady Melania Trump Launches Fostering the Future Accounts America’s First Savings & Investment Vehicle for Foster Youth

Key Points

• Melania Trump launched Fostering the Future Accounts, a new savings and investment vehicle designed specifically for children in the foster care system, giving them a way to build assets before they turn 18.
• The Treasury Department, HHS, and OMB issued federal guidance allowing state, territorial, and tribal child welfare agencies to open these accounts for any child or youth in their care. Treasury will now recognize child welfare agencies as eligible to open initial accounts.
• Twenty-three governors have already pledged to set up these accounts in their states. Melania Trump is urging all 50 states and business leaders to help fund the accounts.
• The account type was authorized by the One Big Beautiful Bill Act, and federal agencies will provide guidance plus a dedicated helpline to assist states in setting up accounts.
• When foster youth turn 18, they will be able to access the assets in their accounts, giving them a financial foundation as they transition to independent adulthood.