Social Work Commons^™

Financial Outcomes In A Child Development Account Experiment: Full Inclusion, Success Regardless Of Race Or Income, And Investment Growth For All, Margaret Clancy

Center for Social Development Research

This research summary presents SEED for Oklahoma Kids (SEED OK) experiment financial outcomes—Oklahoma College Savings Plan 529 (OK 529) account holding and savings—as of December 31, 2019. Wave 3 of SEED OK occurred when children were about 12 years old, nearing the age when they and their families make decisions about high school curricula and, not long after, postsecondary education.

This summary shows that all children can have an asset-building account with resources that grow over time. In particular, the CDA greatly increases the likelihood that disadvantaged children have assets accumulating for their future education. In addition, the CDA in …

Asset-Building Policy In Korea: Innovation For Social Development, Michael Sherraden

Center for Social Development Research

This Perspective is adapted from Michael Sherraden’s keynote address given during the “Ceremony Commemorating the 20th Anniversary of Self- Sufficiency & Welfare Policy and 10th Anniversary of Asset- Building Policy” in Korea. The Perspective is presented through a partnership between the Center for Social Development, the Korean Ministry of Health & Welfare, and the Korea Development Institute for Self-Sufficiency & Welfare.

Child Development Accounts Improve Parenting Practices, Particularly For Financially Vulnerable Families, Jin Huang

Center for Social Development Research

Parenting practices, such as parental involvement and discipline, define parent–child interactions and influence child functioning. Child Development Accounts may have positive impacts on parenting practices by increasing parents’ perceived levels of economic safety, enhancing their optimism regarding the long-term development of their child, and improving parents’ mental health. This research brief synthesizes findings of the CDA effects on parenting practices from three research studies in the SEED for Oklahoma Kids experiment.

Findings show that the SEED OK CDA has significantly reduced mothers’ punitive parenting practices, and also increased positive parenting practices among mothers in financially vulnerable families. The size of …

Statewide Child Development Accounts And Local Partnerships: A Scalable Model That Can Include All Families, Margaret M. Clancy, Michael Sherraden, Jim Huang, Sondra G. Beverly, Youngmi Kim

Center for Social Development Research

This brief presents a policy model for partnering statewide Child Development Accounts (CDAs) with other federal, state, city, and community services for financially vulnerable families. Statewide CDAs use 529 plans as the financial platform.

The brief first outlines the different strengths of local municipalities, social service organizations, and statewide CDAs, and then illustrates the benefits of a combined policy model. The model is designed to increase the positive impacts at scale and ensure that statewide CDAs complement but do not replace efforts by local organizations and governments. With partnerships formed and common challenges met, statewide CDAs, local municipalities and …