California is getting ready to open a small college savings account for every child born in the state on or after July 1, 2022, and a much larger one for all low-income children who were enrolled in a California public school in grades 1 through 12 last year or this year.

The state-funded program, nicknamed CalKids, advertises that it will provide “up to $100” for newborns and “up to $1,500” for low-income students, but parents of newborns will have to jump through some hoops to get the full $100 and very few school-age students will qualify for the full $1,500.