First Lady Melania Trump unveiled a new initiative on Thursday to help foster kids get access to “Trump accounts.”

Led in tandem with the Treasury Department, the effort is aimed at expanding access to financial education and making it easier for eligible foster youth to get access to their own “Trump accounts,” referred to as “Fostering the Future Accounts.”

“Fostering the Future Accounts give foster children the same chance for asset ownership and long-term wealth building as every other American child,” the first lady said. “By investing in our foster youth now, we help strengthen America’s workforce, communities, and economic future.”

The White House noted that the Trump administration will offer guidance through a “dedicated helpline” designed to help states set up accounts for foster children. Twenty-three governors have already pledged to open these accounts, according to the White House.

Under the Working Families Tax Cuts, parents and legal guardians can open a new type of retirement account for their children, called “Trump accounts.” Children who are U.S. citizens with a valid Social Security number born after Jan. 1, 2025 and before Dec. 31, 2028, are eligible for $1,000 in seed funding under the program.

Under the “Fostering the Future” initiative, a child welfare agency of a state, territorial or tribal government that is the legal guardian of an eligible child may open a Trump account for that child.

Treasury Secretary Scott Bessent said the initiative “is the latest expression of the First Lady’s longstanding commitment to America’s children. We at Treasury are grateful for Mrs. Trump’s leadership in advancing Trump Accounts, the most important benefit for young people since the GI Bill.”

“This initiative will expand access to Trump Accounts for youth in foster care and provide states with new flexibility to direct existing resources toward their future, helping more young people build savings and a stronger foundation for long-term financial security and success,” Bessent continued.