Trump Foster Savings

First lady Melania Trump and Treasury Secretary Scott Bessent announced Fostering the Future Accounts on June 11, extending the Trump Accounts investment program to children in foster care. The initiative is designed to ensure foster youth can access a dedicated savings and investment vehicle even when no parent or guardian is available to open an account, giving them a pathway to financial autonomy when they turn 18. The accounts build on Trump Accounts, tax-advantaged investment funds seeded with $1,000 for eligible children, and the White House framed the foster-care expansion as a wealth-building tool for a group often excluded from traditional family-based financial planning. Melania Trump said the program adds “another important layer” to the Treasury Department’s work and marks the first time children in foster care will have access to such a dedicated account.