Melania Trump Launches Fostering the Future Accounts for Foster Youth

First Lady Melania Trump and Treasury Secretary Scott Bessent announced the launch of Fostering the Future Accounts on June 11, 2026. The program will provide a $1,000 federal deposit to every eligible U.S. citizen born between January 1, 2025, and December 31, 2028, whose parent or guardian opens an account.

The accounts are a spinoff of the Trump Accounts created by legislation signed last summer. They allow child welfare agencies to serve as guardians so foster children can participate even if no parent is available.

Accounts will open for contributions on July 4.

Private donors, employers, and state programs may add funds, which private firms will invest in the stock market. The White House Council of Economic Advisers projects that a 2026 newborn account will hold $5,800 by age 18 and $18,100 by age 28 with no additional deposits.

Twenty-three Republican governors have pledged to let state agencies enroll children. Democratic governors have not indicated participation.

Federal data show roughly 391,000 children in foster care on any given day. The National Council for Adoption reports about 330,000 children currently in the system. One in five ages out at risk of homelessness, and only half are employed by age 24, according to the National Foster Youth Institute.

Under prior rules, most foster youth left care without accumulated assets because state stipends ended at 18. The new accounts create a portable investment vehicle that stays with the individual after discharge.

Secretary Scott Bessent said the program affirms that the American dream belongs to every child. The first lady urged governors and business leaders to help fund the accounts. States must designate an administering agency within coming months. The Treasury Department will issue contribution limits, investment options, and tax rules within 180 days.