The White House announced that First Lady Melania Trump has launched Fostering the Future Accounts, a new savings and investment vehicle for children and youth in foster care that is intended to give them access to assets when they turn 18. The release also said the U.S. Department of the Treasury, the U.S. Department of Health and Human Services, and the Office of Management and Budget have issued federal guidance allowing state, territorial, and tribal child welfare agencies to open this type of account for children and youth in their care, following authorization in the One Big Beautiful Bill Act. Under the guidance, the Treasury Department will recognize state child welfare agencies acting as a guardian for children and youth in foster care, or their designees, as eligible individuals to open an initial account while a child is in foster care. The administration said it will provide further guidance and a dedicated helpline to help states establish the accounts. The White House also said 23 governors have pledged to open Fostering the Future Accounts for children in their states' care. The announcement called on all 50 states to adopt the accounts and urged governors and business leaders to help fund them.
The White House2026-06-11
The White House launches Fostering the Future Accounts for foster youth as 23 governors pledge participation
The White House announced the launch of First Lady Melania Trump's Fostering the Future Accounts, a savings and investment vehicle for children and youth in foster care that can be accessed at age 18. Treasury, HHS, and OMB issued guidance allowing state, territorial, and tribal child welfare agencies to open the accounts, with Treasury recognizing child welfare agencies or their designees as eligible initial account openers. Twenty-three governors have pledged to participate.