Trump Accounts launch for foster youth savings in July 2026

AI Summary

First Lady Melania Trump announced the launch of Trump Accounts, a new savings and investment initiative for children in foster care, during an event on June 11, 2026. The program aims to support over 400,000 foster children in the U.S., with particular emphasis on those aging out of the system, over 23,000 annually. Each eligible child will receive a one-time $1,000 deposit from the Treasury, with the accounts becoming available on July 4, 2026. This initiative is part of the larger 'Fostering the Future' program initiated by the Trump administration.