Gov. Green announces first-in-the-nation savings accounts for foster youth

Gov. Josh Green announced that Hawaiʻi is becoming the first state in the nation to ensure every eligible child in foster care, from newborn through age 17, has a funded, tax-advantaged savings and investment account.

Through partnerships with the Michael & Susan Dell Foundation and Ed Freedman’s Stable Road Foundation, Hawaiʻi has secured funding for every eligible foster child, eliminating the remaining gap in support.

The initiative responds to the national “Fostering the Future” initiative, which established the federal Section 530A savings account program — giving children in foster care a dedicated savings and investment account they can access beginning at age 18. In Hawaiʻi, all eligible foster children will now receive both an account and seed funding through a combination of federal and philanthropic support:

• The federal government provides a $1,000 seed contribution for children born between 2025 and 2028. The Michael & Susan Dell Foundation provides $250 for foster children age 10 and under, born before 2025.
• Ed Freedman’s Stable Road Foundation funds every eligible foster child ages 11 through 17 — the one age group no one else is covering — with a $250 contribution per child. 

By bringing these efforts together, Hawaiʻi becomes the first state in the nation to provide funded accounts for every eligible child in foster care, regardless of age.

“Our responsibility is to give every child the opportunity to succeed, especially those who depend on the state for care,” said Green. “By ensuring every eligible foster child has a funded investment account, we are giving these young people a stronger foundation as they enter adulthood. I’m deeply grateful to the Michael & Susan Dell Foundation and Ed Freedman’s Stable Road Foundation for helping make Hawaiʻi the first state in the nation to achieve this.”

“Every child in Hawaiʻi deserves a chance to reach their fullest potential and no keiki should be left behind, regardless of their circumstances,” said Ed Freedman, founder of the Stable Road Foundation. “The federal government and the Michael & Susan Dell Foundation are caring for our foster children through age 10 — so we’re stepping in to provide $250 in seed funding for the Trump Account of every foster child in Hawaiʻi ages 11 to 17, the one group no one else was covering. We’re proud to partner with Governor Green and Invest America to make Hawaiʻi the first state in the country where every foster child, at every age, starts with a funded account — and we’re calling on leaders across the state and the nation to do the same.”

Hawaiʻi’s commitment demonstrates how states and private philanthropy can work together to expand economic opportunity for children in foster care. By ensuring every eligible foster child has a funded account, the state is creating a financial foundation that can help support education, homeownership, entrepreneurship and other investments in adulthood.

Invest America Executive Director Matt Lira said, “Today’s announcement by Governor Green and Ed Freedman’s Stable Road Foundation is a watershed moment for foster children across Hawaiʻi. One of the most important legacies we can leave the next generation is expanded hope and opportunity — and a real stake in the upside of the American economy delivers both.”

Section 530A accounts are Treasury-backed investment accounts available to eligible US children with a Social Security number. The accounts can be accessed after age 18, allowing investments to grow over time. With support from the federal government, the Michael & Susan Dell Foundation and Ed Freedman’s Stable Road Foundation, every eligible foster child in Hawaiʻi will begin that journey with dedicated financial resources already in place.