LOS ANGELES — Every first grader enrolled in Los Angeles Unified School District schools will soon receive money for college.

District officials announced on Friday a partnership with the city and county of Los Angeles to invest $50 in a deposit-only college savings account. The program called Opportunity LA will be available to an estimated 35,000 students by the fall.

“Research shows that families who start thinking about college early that those kids are three times more likely to go to college and four times more likely to graduate from college,” said LAUSD board member Nick Melvoin. “This isn’t just about the financial incentive. It’s about the mindset that if we’re going to say that every student should go to college or should have the opportunity let’s put our money where our mouth is and let’s get families thinking about college early.”

Opportunity LA is fully funded by state and city dollars — and will be the largest of its kind in the nation. The one-time deposit can grow over the years with interest, and parents will be encouraged to contribute money.

Desi Chambers, who is 6 years old, will be a first grader at Paseo Del Rey in the fall. He plans to own a restaurant when he grows up and is grateful he will already have some money for college.

“Because they want me to have a good future,” Desi said.

Desi’s mom, Hope Chambers, personally knows how difficult it can be for students to fund their future. She was a first-generation college student.

“My mom is a waitress, and we just made enough to get by. So when I found out how much it was, I was just overwhelmed,” she said.  

Eventually, Hope Chambers graduated from Loyola Marymount, and she is looking forward to Desi carrying on the legacy of higher education.

“It alleviates all that stress, all that burden of being able to go to college,” she said. “Having money is a huge weight lifted off families.”

Opportunity LA will begin in the spring by targeting students according to a Student Equity Needs Index.