He told them that each student will get a college savings account courtesy of city taxpayers.
Kids will get $50 to start, and lower income children will get $100.
As an added incentive, a private foundation will contribute $100 for every child whose family saves $100.
"To our knowledge, it hasn't been done in the United States, and what a nice backdrop, you know, in the midst of everybody talking about budget cuts and constraints," said Newsom.
The program costs about $200,000 a year, and it will have to be approved each year during budget negotiations.
