Dell Foundation to Fund Youth Savings Accounts, Eligibility Based on Location

A major philanthropic foundation will deposit $250 into new savings accounts for millions of young children next year. The initiative, using accounts proposed by former President Donald Trump, will target children under the age of 10. The Michael & Susan Dell Foundation confirmed the plan. The contribution will serve as a starting investment for the so-called "Trump accounts," a policy concept for government-managed savings accounts for children. Eligibility for the $250 deposit will depend on geography. The foundation states that only children living in specific ZIP codes will qualify for the initial funding. The accounts are designed as long-term savings vehicles. The goal is to build a financial foundation for education or other future costs as the children grow older.