Stitt Signs Executive Order Expanding Savings Accounts for Foster Children

Stitt Signs Executive Order Expanding Savings Accounts for Foster Children

Governor Kevin Stitt signed an executive order aimed at helping children in Oklahoma’s foster care system access federal benefits and long-term savings accounts designed to support their future education, careers and financial independence. The order directs the Oklahoma Department of Human Services to identify and secure federal benefits available to children in state custody and ensure those funds are used in the child’s best interest. Stitt said the order also supports implementation of the Oklahoma Dream Accounts Investment Program, which will provide eligible foster children access to federally created Trump Accounts. The state will contribute an additional $250 for each eligible child. “Every child in Oklahoma deserves the opportunity to chase the American Dream,” Stitt said. “In Oklahoma, every child will have access to Trump accounts, and as a state, we are contributing another $250 for every eligible child in Oklahoma.” According to the governor’s office, the savings accounts are intended to help foster youth prepare for expenses related to higher education, career training, homeownership and entrepreneurship. The Oklahoma Department of Human Services will begin identifying eligible children, securing available federal benefits and developing the framework needed to implement the program.