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Full-Text Articles in Social Work
Heterogeneous Effects Of Child Development Accounts On Savings For Children's Education, Jin Huang, Youngmi Kim, Michael Sherraden, Margaret Clancy
Heterogeneous Effects Of Child Development Accounts On Savings For Children's Education, Jin Huang, Youngmi Kim, Michael Sherraden, Margaret Clancy
Center for Social Development Research
In this study, we use data from SEED for Oklahoma Kids (N = 2,77), a statewide policy experiment testing Child Development Accounts (CDAs), to examine effects on individual savings for children’s postsecondary education. Built on the account structure of the Oklahoma 529 College Savings Plan, the experiment automatically opened state-owned 529 accounts for children in the treatment group with a $1,000 initial deposit, and encouraged their caregivers to open and save in participant-owned 529 accounts. Using quantile regressions and statistical match, the study focuses on the effects of CDAs on the shape of the savings distribution among participants who hold …
Education Loans And Wealth Building Among Young Adults, Min Zhan, Xiaoling Xiang
Education Loans And Wealth Building Among Young Adults, Min Zhan, Xiaoling Xiang
Center for Social Development Research
This study examines the association between education loans and postcollege wealth accumulation among young adults. Data come from the 1997 National Longitudinal Survey of Youth, and the analyses control for a number of student characteristics, college experiences, and parental income. Results from a treatment-effect model indicate that having education loans upon leaving college is negatively related to postcollege net worth, financial assets, nonfinancial assets, and value of primary housing. Furthermore, having education loans also has a negative impact on the value of net worth among Black young adults. The relationship between the amount of education loans and wealth accumulation is …
Lack Of Emergency Savings Puts American Households At Risk, Michal Grinstein-Weiss, Blair Russell, Brad Tucker, Krista Comer
Lack Of Emergency Savings Puts American Households At Risk, Michal Grinstein-Weiss, Blair Russell, Brad Tucker, Krista Comer
Center for Social Development Research
Lack of Emergency Savings Puts American Households at Risk
Research Summary: Testing Universal College Savings Accounts At Birth: Early Research From Seed For Oklahoma Kids, Sondra G. Beverly, Margaret M. Clancy, Michael Sherraden
Research Summary: Testing Universal College Savings Accounts At Birth: Early Research From Seed For Oklahoma Kids, Sondra G. Beverly, Margaret M. Clancy, Michael Sherraden
Center for Social Development Research
SEED for Oklahoma Kids is a large-scale policy test of automatic and progressive Child Development Accounts (CDAs), and it is the first truly universal model in the United States. The SEED OK CDA is universal in that it opens an Oklahoma 529 College Savings Plan (OK 529) account on behalf of every infant in the treatment group. This report summarizes key findings and conclusions from SEED for Oklahoma Kids research. Even at this early stage, SEED OK research is informing policy and the design of college savings plans at the state level. Amore recent summary of SEED OK research is …
Automatic Deposits For All At Birth: Maine's Harold Alfond College Challenge, Margaret M. Clancy, Michael Sherraden
Automatic Deposits For All At Birth: Maine's Harold Alfond College Challenge, Margaret M. Clancy, Michael Sherraden
Center for Social Development Research
The first statewide Child Development Account (CDA) in the United States announced a major change in strategy to automatically enroll all newborns. Evidence from CDA research has contributed to the decision by the College Challenge to remove its original opt-in requirement—in which parents must enroll their newborns in the state’s 529 college savings plan to receive a $500 grant—in favor of universal enrollment—in which every child is enrolled automatically at birth with a $500 grant.
Building A Lifetime Of Economic Security: Mobilizing For Change, Center For Social Development
Building A Lifetime Of Economic Security: Mobilizing For Change, Center For Social Development
Center for Social Development Research
Building a Lifetime of Economic Security: Mobilizing for Change
Student Debt And Declining Retirement Savings, William Elliott, Michal Grinstein-Weiss, Ilsung Nam
Student Debt And Declining Retirement Savings, William Elliott, Michal Grinstein-Weiss, Ilsung Nam
Center for Social Development Research
In this study, the authors use the Survey of Consumer Finances (SCF) to determine whether student loan debt is associated with retirement savings. They find that the median 2009 retirement savings amount for households with no outstanding student loan debt ($55,000) is nearly twice as high as it is for households with outstanding student loan debt ($25,000). Further, multivariate statistics indicate that a household with a four-year college graduate, outstanding student loan debt, and median retirement savings ($80,983) in 2007 incurred a loss of 52% of those retirement savings in 2009 contrasted with household with a similar household with no …
Is Student Debt Compromising Homeownership As A Wealth-Building Tool?, William Elliott, Michal Grinstein-Weiss, Ilsung Nam
Is Student Debt Compromising Homeownership As A Wealth-Building Tool?, William Elliott, Michal Grinstein-Weiss, Ilsung Nam
Center for Social Development Research
In this study, the authors use 2007–2009 Survey of Consumer Finance longitudinal data to examine if having student loans affected home equity during the Great Recession. We find that median 2009 home equity ($90,000) for households with no outstanding student loan debt is twice as high as that of households with outstanding student loan debt ($45,000). Further, multivariate statistics reveal that a household with a college graduate, median 2007 home equity, and student loan debt had $54,334 (40%) less home equity in 2009 than a household with a college graduate, median home equity, and no college debt. The main policy …
Child Development Accounts And College Success: Accounts, Assets, Expectations, And Achievements, Sondra G. Beverly, William Elliott, Michael Sherraden
Child Development Accounts And College Success: Accounts, Assets, Expectations, And Achievements, Sondra G. Beverly, William Elliott, Michael Sherraden
Center for Social Development Research
Child Development Accounts (CDAs) can contribute to financial preparation for college and the development of a college-bound identity in multiple ways and so increase the likelihood of college success. The pathways from CDAs to college success proposed in this paper are grounded in theory and evidence, but more research on the impact of CDAs is needed.
The Impact Of Family Assets And Debt On College Graduation, Min Zhan, Deidre Lanesskog
The Impact Of Family Assets And Debt On College Graduation, Min Zhan, Deidre Lanesskog
Center for Social Development Research
This study examines the influence of family financial assets and debt, both measured during the time of youth’s college enrollment, on the chances of college graduation. Data come from the National Longitudinal Survey of Youth. Results from analyses controlling for a number of student, parental, and institutional characteristics indicate that family assets are positively related to the chances of college graduation among White and Black students; family debt is negatively associated with the odds of college graduation among Black students, but neither family assets nor family debt is related to the chances of college graduation among Hispanic students. Overall, results …
Youth Savings Patterns And Performance In Colombia, Ghana, Kenya, And Nepal, Lissa Johnson, Yungsoo Lee, Michael Sherraden, Gina A. N. Chowa, David Ansong, Fred Ssewamala, Margaret S. Sherraden, Li Zhou, Moses Njenga, Joseph Kieyah, Isaac Osei-Akoto, Sharad Sharma, Jyoti Manandhar, Catherine Orgales Rodriguez, Frederico Merchán, Juan Saavedra
Youth Savings Patterns And Performance In Colombia, Ghana, Kenya, And Nepal, Lissa Johnson, Yungsoo Lee, Michael Sherraden, Gina A. N. Chowa, David Ansong, Fred Ssewamala, Margaret S. Sherraden, Li Zhou, Moses Njenga, Joseph Kieyah, Isaac Osei-Akoto, Sharad Sharma, Jyoti Manandhar, Catherine Orgales Rodriguez, Frederico Merchán, Juan Saavedra
Center for Social Development Research
Youth Savings Patterns and Performance in Colombia, Ghana, Kenya, and Nepal
The Impact Of Family Assets And Debt On College Graduation, Min Zhan, Deidre Lanesskog
The Impact Of Family Assets And Debt On College Graduation, Min Zhan, Deidre Lanesskog
Center for Social Development Research
The Impact of Family Assets and Debt on College Graduation
Visual Demonstration Of Academic Performance And Parental Involvement In Ghana, David Ansong, Gena A. N. Chowa
Visual Demonstration Of Academic Performance And Parental Involvement In Ghana, David Ansong, Gena A. N. Chowa
Center for Social Development Research
Visual Demonstration of Academic Performance and Parental Involvement in Ghana
Perceived Impact Of Individual Development Account Participation Among Native Hawaiians, David W. Rothwell, Rashida Bhaiji, Anne Blumenthal
Perceived Impact Of Individual Development Account Participation Among Native Hawaiians, David W. Rothwell, Rashida Bhaiji, Anne Blumenthal
Center for Social Development Research
Indigenous peoples face many social development challenges and the lingering effects of colonization. Income transfer, a traditional social welfare approach designed to raise minimum living standards, has had limited beneficial effects on long-term social conditions. As a complement to income transfer, asset-based approaches to social welfare have resulted in positive effects in the short and long terms. Some Indigenous communities are exploring how asset-based interventions might enhance social development (Hicks, Edwards, Dennis, & Finsel, 2005), but only limited and scattered research describes how they experience asset-building programs. This qualitative descriptive study explores the perceived impact of a large Individual Development …
Relationships Between College Savings And Enrollment, Graduation, And Student Loan Debt, William Elliott Iii, Hyun-A Song, Ilsung Nam
Relationships Between College Savings And Enrollment, Graduation, And Student Loan Debt, William Elliott Iii, Hyun-A Song, Ilsung Nam
Center for Social Development Research
Relationships Between College Savings and Enrollment, Graduation, and Student Loan Debt
Small-Dollar Children's Savings Accounts, Income, And College Outcomes, William Elliott, Hyun-A Song, Ilsung Nam
Small-Dollar Children's Savings Accounts, Income, And College Outcomes, William Elliott, Hyun-A Song, Ilsung Nam
Center for Social Development Research
In this paper, we examine the relationship between children’s small-dollar savings accounts and college enrollment and graduation by asking three important research questions: (a) are children with savings of their own more likely to attend or graduate from college, (b) does dosage (having no account; having basic savings only; or having savings designated for school of less than $1, $1 to $499, or $500 or more) matter, and (c) is designating savings for school more predictive than having basic savings alone? We use propensity score weighted data from the Panel Study of Income Dynamics (PSID) and its supplements to create …
Youth And Their Health In Ghana, Gina Chowa, Rainier Masa, Isaac Osei-Akoto
Youth And Their Health In Ghana, Gina Chowa, Rainier Masa, Isaac Osei-Akoto
Center for Social Development Research
Youth and Their Health in Ghana
Parental Involvement And Academic Performance In Ghana, Gina Chowa, David Ansong, Issac Osei-Akoto
Parental Involvement And Academic Performance In Ghana, Gina Chowa, David Ansong, Issac Osei-Akoto
Center for Social Development Research
Parental Involvement and Academic Performance in Ghana
Youth And Saving In Ghana: A Baseline Report From The Youthsave Ghana Experiment, Gina Chowa, David Ansong, Rainier Masa, Mat Despard, Isaac Osei-Akoto, Atta-Ankomah Richmond, Andrew Agyei-Holmes, Michael Sherraden
Youth And Saving In Ghana: A Baseline Report From The Youthsave Ghana Experiment, Gina Chowa, David Ansong, Rainier Masa, Mat Despard, Isaac Osei-Akoto, Atta-Ankomah Richmond, Andrew Agyei-Holmes, Michael Sherraden
Center for Social Development Research
Youth and Saving in Ghana: A Baseline Report From the YouthSave Ghana Experiment
Interviews With Mothers Of Young Children In The Seed For Oklahoma Kids College Savings Experiment, Karen Gray, Margaret Clancy, Margaret S. Sherraden, Kristen Wagner, Julie Miller-Cribbs
Interviews With Mothers Of Young Children In The Seed For Oklahoma Kids College Savings Experiment, Karen Gray, Margaret Clancy, Margaret S. Sherraden, Kristen Wagner, Julie Miller-Cribbs
Center for Social Development Research
Interviews With Mothers of Young Children in the SEED for Oklahoma Kids College Savings Experiment
Long-Term Follow-Up Of Individual Development Accounts: Evidence From The Add Experiment, Michal Grinstein-Weiss, Michael Sherraden, William M. Rohe, William Gale, Mark Schreiner, Clinton Key
Long-Term Follow-Up Of Individual Development Accounts: Evidence From The Add Experiment, Michal Grinstein-Weiss, Michael Sherraden, William M. Rohe, William Gale, Mark Schreiner, Clinton Key
Center for Social Development Research
Long-Term Follow-Up of Individual Development Accounts: Evidence From the ADD Experiment
Product Pilot Report: Youth Savings Performance In Ghana, Kenya, And Nepal, Lissa Johnson, Yungsoo Lee, Isaac Osei-Akoto, Moses Njenga, Sharad Sharma
Product Pilot Report: Youth Savings Performance In Ghana, Kenya, And Nepal, Lissa Johnson, Yungsoo Lee, Isaac Osei-Akoto, Moses Njenga, Sharad Sharma
Center for Social Development Research
Product Pilot Report: Youth Savings Performance in Ghana, Kenya, and Nepal
Financial Knowledge And Attitudes Of Youth In Ghana, Gina A. N. Chowa, Mathieu R. Despard, Isaac Osei-Akoto
Financial Knowledge And Attitudes Of Youth In Ghana, Gina A. N. Chowa, Mathieu R. Despard, Isaac Osei-Akoto
Center for Social Development Research
Financial Knowledge and Attitudes of Youth in Ghana
Youth In The Ghana Experiment: Characteristics And Living Conditions, Gina A. N. Chowa, Rainier Masa, Isaac Osei-Akoto
Youth In The Ghana Experiment: Characteristics And Living Conditions, Gina A. N. Chowa, Rainier Masa, Isaac Osei-Akoto
Center for Social Development Research
Youth in the Ghana Experiment: Characteristics and Living Conditions
Youth Saving Patterns And Performance In Ghana, Gina A. N. Chowa, Mathieu R. Despard, Issac Osei-Akoto
Youth Saving Patterns And Performance In Ghana, Gina A. N. Chowa, Mathieu R. Despard, Issac Osei-Akoto
Center for Social Development Research
Youth Saving Patterns and Performance in Ghana
The Impact Of Household Possessions On Youth's Academic Achievement In The Ghana Youthsave Experiment, Gina A. N. Chowa, Rainier D. Masa, Christopher J. Wretman, David Ansong
The Impact Of Household Possessions On Youth's Academic Achievement In The Ghana Youthsave Experiment, Gina A. N. Chowa, Rainier D. Masa, Christopher J. Wretman, David Ansong
Center for Social Development Research
Households play an important role in youth’s academic achievement. Household assets as part of youth’s family background have been found to have a significant impact on youth’s academic achievement. In this study, the impact of household possessions on youth’s academic achievement in the Ghana YouthSave experiment is investigated. Findings support the hypothesized positive direction of the impact of household possessions on academic achievement of youth. Using propensity score optimal matching and matching estimators, results show youth from households that reported owning at least one of the five household items measured scored almost 1 unit higher on English than their peers …
Financial Knowledge And Child Development Account Policy: A Test Of Financial Capability, Jin Huang, Yunju Nam, Margaret Sherrard Sherraden
Financial Knowledge And Child Development Account Policy: A Test Of Financial Capability, Jin Huang, Yunju Nam, Margaret Sherrard Sherraden
Center for Social Development Research
This study examines how study participants’ financial knowledge and participation in a Child Development Account (CDA) intervention affect 529 College Savings Plan account holding among caregivers of infants. The study uses data from the SEED for Oklahoma Kids experiment (SEED OK, N=2,51), a statewide randomized experiment using a probability sample of infants selected from birth records. SEED OK is a policy test of universal and progressive CDAs that encourage families to accumulate assets for their children’s future. Results of logit regression show that participants’ financial knowledge is positively related to the account holding in the treatment group, but not in …
Testing An Asset-Building Approach For Young People: Early Access To Savings Predicts Later Savings, Terri Friedline, William Elliott, Gina Chowa
Testing An Asset-Building Approach For Young People: Early Access To Savings Predicts Later Savings, Terri Friedline, William Elliott, Gina Chowa
Center for Social Development Research
A major hypothesis of asset-building is that early access to savings accounts leads to continued and improved educational and economic outcomes over time. This study asks whether or not young adults (ages 18 to 22), particularly lower-income young adults, are significantly more likely to own savings accounts and to accumulate more savings when they have access to savings accounts at banking institutions as adolescents (ages 13 to 17). We investigate this question using longitudinal data (low-to-moderate income sample [LMI; N = 530]; low-income sample [LI; N = 354]) from the Panel Study of Income Dynamics and its supplements. Results from …
Economic Socialization, Saving, And Assets In European Young Adults, Paul Webley, Ellen Nyhus
Economic Socialization, Saving, And Assets In European Young Adults, Paul Webley, Ellen Nyhus
Center for Social Development Research
Two studies were carried out, using data on the assets, economic socialization and dispositions of European teenagers and young adults. The sample of young adults (18-32) was drawn from a panel survey of the Dutch population. The Dutch sample size was 392, a significant proportion (over 25%) of whom were still living in the parental home. The sample of teenagers (mean age 14.4 years) and their parents was drawn from a three-generation study of economic socialization in Norway. The Norwegian sample size was 548 adolescents, 256 mothers, and 227 fathers. The Dutch study identified four distinct strands of economic socialization: …
Assets, Economic Opportunity, And Toxic Stress: A Framework For Understanding Child And Educational Outcomes, Trina R. Williams Shanks, Christine Robinson
Assets, Economic Opportunity, And Toxic Stress: A Framework For Understanding Child And Educational Outcomes, Trina R. Williams Shanks, Christine Robinson
Center for Social Development Research
Child health, educational attainment, and family socioeconomic status are inextricably linked. We introduce a model that ties together research drawn from the fields of economics, education, psychology, sociology, medicine, epidemiology, neuroscience, public health and biostatistics. Organized around an integrated conceptual paradigm of environmental, economic, familial and psychosocial pathways, we demonstrate various ways SES alters the performance of biological systems, thereby affecting family interaction, stress, school success, and child outcomes.