Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 30 of 36
Full-Text Articles in Social Work
Start Lifelong Asset Building With Universal And Progressive Child Development Accounts, Jin Huang, Margaret S. Sherraden, Margaret M. Clancy, Michael Sherraden, Trina R. Shanks
Start Lifelong Asset Building With Universal And Progressive Child Development Accounts, Jin Huang, Margaret S. Sherraden, Margaret M. Clancy, Michael Sherraden, Trina R. Shanks
Center for Social Development Research
This policy action statement was developed by members of the networks engaged in the Grand Challenges to Build Financial Capability and Assets for All and to Reduce Extreme Economic Inequality. The Grand Challenges initiative’s policy action statements present proposals emerging from Social Innovation for America’s Renewal, a policy conference organized by the Center for Social Development at Washington University in collaboration with theAmerican Academy of Social Work & Social Welfare, which is leading the Grand Challenges for Social Work initiative to champion social progress through a national agenda powered by science.
The Seed For Oklahoma Kids Child Development Account Experiment: Accounts, Assets, Earnings, And Savings, Sondra G. Beverly, Margaret M. Clancy, Jin Huang, Michael Sherraden
The Seed For Oklahoma Kids Child Development Account Experiment: Accounts, Assets, Earnings, And Savings, Sondra G. Beverly, Margaret M. Clancy, Jin Huang, Michael Sherraden
Center for Social Development Research
This brief presents the latest results from SEED for Oklahoma Kids, a pathbreaking randomized experiment to test the effects of automatic, universal, and progressive Child Development Accounts (CDAs) in a statewide sample. Key features of the CDA are automatic opening of a 529 account and an automatic initial $1,000 deposit. The results show that CDAs with automatic deposits invested in a 529 plan may enable children to accumulate meaningful levels of assets over time, even if their families do not contribute to the accounts. As the brief indicates, the new results also have key implications for public policy.
The Early Positive Impacts Of Child Development Accounts, Sondra G. Beverly, Margaret M. Clancy, Michael Sherraden
The Early Positive Impacts Of Child Development Accounts, Sondra G. Beverly, Margaret M. Clancy, Michael Sherraden
Center for Social Development Research
This research brief highlights the findings of several studies from the SEED for Oklahoma Kids experiment, a large-scale policy test of universal, automatic, and progressive Child Development Accounts (CDAs). The universal and automatic components make the CDA in SEED OK inclusive by providing college accounts and savings to all treatment children. These studies primarily report the positive impacts of the CDA on nonfinancial outcomes (e.g., educational expectations, mother’s mental health, and child development). The impacts are often greater for disadvantaged children.
College Savings Plans: A Platform For Inclusive And Progressive Child Development Accounts, Margaret M. Clancy, Michael Sherraden, Sondra G. Beverly
College Savings Plans: A Platform For Inclusive And Progressive Child Development Accounts, Margaret M. Clancy, Michael Sherraden, Sondra G. Beverly
Center for Social Development Research
College Savings Plans: A Platform for Inclusive and Progressive Child Development Accounts
The Early Good News About Child Development Accounts, Sondra G. Beverly, Margaret Clancy, Michael Sherraden
The Early Good News About Child Development Accounts, Sondra G. Beverly, Margaret Clancy, Michael Sherraden
Center for Social Development Research
This brief summary of early research findings from the SEED for Oklahoma Kids experiment may help Child Development Account (CDA) proponents communicate the value of such accounts to policymakers, educators and others.
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.
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 …
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.
Seed For Oklahoma Kids: Experimental Test Of A Policy Innovation In A Full Population, Lisa Reyes Mason, Yunju Nam, Margaret Clancy, Michael Sherraden
Seed For Oklahoma Kids: Experimental Test Of A Policy Innovation In A Full Population, Lisa Reyes Mason, Yunju Nam, Margaret Clancy, Michael Sherraden
Center for Social Development Research
The Center for Social Development at Washington University in St. Louis has implemented an ambitious policy demonstration: SEED for Oklahoma Kids (SEED OK). This initiative uses multiple research methods, including a scientific experiment in a full population, to test a policy innovation. The innovation is providing a Child Development Account (CDA) to all children at birth. In SEED OK, randomly selected newborn children in Oklahoma received a college savings account “seeded” with a $1,000 initial deposit, plus additional components of the SEED OK intervention. This case study describes the multiyear process of designing and implementing SEED OK and sheds light …
Reducing Student Loan Debt Through Parents’ College Savings, William Elliott, Ilsung Nam
Reducing Student Loan Debt Through Parents’ College Savings, William Elliott, Ilsung Nam
Center for Social Development Research
One policy rationale for promoting Child Development Accounts (CDAs) is that they may help reduce college debt, but no research provides evidence of this. Research does suggest that high-dollar student loans ($10,000 or more) can reduce the probability that lower income students in particular persist in and graduate from college. In this study, we find evidence to suggest that parents’ college savings may reduce the probability that students accrue high-dollar student loan debt across all income levels with the exception of high-income students. Based on this and evidence from separate research on small-dollar children’s savings accounts, we suggest that it …
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
The Seed For Oklahoma Kids Experiment: Initial Account Opening And Savings, Robert Zager, Youngmi Kim, Yunju Nam, Margaret Clancy, Michael Sherraden
The Seed For Oklahoma Kids Experiment: Initial Account Opening And Savings, Robert Zager, Youngmi Kim, Yunju Nam, Margaret Clancy, Michael Sherraden
Center for Social Development Research
The SEED for Oklahoma Kids Experiment: Initial Account Opening and Savings
Saving For College: A Policy Primer, Margaret M. Clancy, Terry Lassar, Krista Taake
Saving For College: A Policy Primer, Margaret M. Clancy, Terry Lassar, Krista Taake
Center for Social Development Research
To help address the rapidly rising cost of higher education—an obstacle to college access and completion for many low- and moderate-income families—it is increasingly important to save for college. This report highlights key policy considerations and challenges, along with specific strategies, to make 529 college savings plans more accessible to families of all incomes.
Saving For Post-Secondary Education In American Indian Communities, Amy Locklear Hertel, Mary Elizabeth Jäger
Saving For Post-Secondary Education In American Indian Communities, Amy Locklear Hertel, Mary Elizabeth Jäger
Center for Social Development Research
Saving for Post-Secondary Education in American Indian Communities
Saving For Post-Secondary Education In American Indian Communities: A Geospatial And Quantitative Analysis, Amy Locklear Hertel, Mary Elizabeth Jäger
Saving For Post-Secondary Education In American Indian Communities: A Geospatial And Quantitative Analysis, Amy Locklear Hertel, Mary Elizabeth Jäger
Center for Social Development Research
A college education is critical to achieving financial stability in the United States. Empirical evidence linking college completion to higher incomes supports this assertion (Bergman, 2006). Every child should have the opportunity to obtain a post-secondary education and achieve financial stability. However, little is known about the practices and behaviors of American Indians when it comes to saving for post-secondary education. This pilot study is the first in this regard. There are two objectives for this study. The first is to assess spatially NC 529 College Savings Plan (NC 529 Plan or Plan) awareness and ownership among American Indian participants …
The Basics Of Progressive 529s, Center For Social Development
The Basics Of Progressive 529s, Center For Social Development
Center for Social Development Research
The Basics of Progressive 529s
College Savings Plan Accounts At Birth: Maine's Statewide Program, Margaret M. Clancy, Terry Lassar
College Savings Plan Accounts At Birth: Maine's Statewide Program, Margaret M. Clancy, Terry Lassar
Center for Social Development Research
The Harold Alfond College Challenge offers $500 to every child in the state enrolled in Maine’s NextGen college savings plan within 1 year from birth. As the first U.S. example of a statewide Child Development Account, the Alfond Challenge is a laboratory to study and learn from Maine’s experience. This CSD policy brief provides an overview of the Alfond Challenge, examines administrative and enrollment challenges, and offers recommendations and federal and state policy directions.
Toward More Inclusive College Savings Plans: Sample State Legislation, Terry Lassar, Margaret M. Clancy, Sarah Mcclure
Toward More Inclusive College Savings Plans: Sample State Legislation, Terry Lassar, Margaret M. Clancy, Sarah Mcclure
Center for Social Development Research
A number of states have created inclusive 529 policy strategies to make college savings plans more accessible and easier to use for families at all income levels. These strategies include: facilitating enrollment and contributions, removing saving disincentives, increasing saving incentives, and strengthening tax benefits. In this brief, we highlight these inclusive state policy strategies, describes their application through legislative and administrative means, and points to specific examples. A related policy report by the same title is also available.
Toward More Inclusive College Savings Plans: Sample State Legislation, Terry Lassar, Margaret M. Clancy, Sarah Mcclure
Toward More Inclusive College Savings Plans: Sample State Legislation, Terry Lassar, Margaret M. Clancy, Sarah Mcclure
Center for Social Development Research
A number of states have created inclusive 529 policy strategies to make college savings plans more accessible and easier to use for families at all income levels. These strategies include facilitating enrollment and contributions, removing saving disincentives, increasing saving incentives, and strengthening tax benefits. In this report, we examine these inclusive state policy strategies, describe their application through legislative and administrative means, and point to specific examples.A related policy brief by the same title is also available.
The Role Of Savings And Wealth In Reducing "Wilt" Between Expectations And College Attendance, William Elliott Iii, Sondra Beverly
The Role Of Savings And Wealth In Reducing "Wilt" Between Expectations And College Attendance, William Elliott Iii, Sondra Beverly
Center for Social Development Research
The Role of Savings and Wealth in Reducing "Wilt" Between Expectations and College Attendance
Streamlined Enrollment And Default Investment: Innovations In Alaska's College Savings Plan, Margaret M. Clancy, Terry Lassar, Rebekah Miller
Streamlined Enrollment And Default Investment: Innovations In Alaska's College Savings Plan, Margaret M. Clancy, Terry Lassar, Rebekah Miller
Center for Social Development Research
As college savings plans have gained in popularity and matured over the years, states have developed a number of innovations to facilitate access to and participation in 529s. This paper examines innovations in streamlined enrollment, pre-selected investment, and default investment in Alaska’s college savings plan. These 529 innovations—intended to facilitate greater participation, especially amongst low- and middle-income families—could play a more important role in other states to encourage savings for postsecondary education.
Assets And Liabilities, Educational Expectations, And Children's College Degree Attainment, Min Zhan, Michael Sherraden
Assets And Liabilities, Educational Expectations, And Children's College Degree Attainment, Min Zhan, Michael Sherraden
Center for Social Development Research
Assets and Liabilities, Educational Expectations, and Children's College Degree Attainment
Low-Cost State Innovations To Help Families Save For College, Mark Huelsman, Margaret M. Clancy
Low-Cost State Innovations To Help Families Save For College, Mark Huelsman, Margaret M. Clancy
Center for Social Development Research
While 529 plans are defined in the federal tax code, individual states have considerable latitude to innovate and make their plans more inclusive. Some states have undertaken large-scale initiatives, such as matching contributions or establishing accounts at birth. Other states have been exploring a number of smaller, lower- cost innovations to remove disincentives and increase savings. States are often the testing ground for future federal policies, and several of these initiatives could also be enacted at the federal level.
Creative Partnerships Between Gear Up And State College Savings Plans: Experience And Policy Potential, Margaret M. Clancy, Rebekah Miller
Creative Partnerships Between Gear Up And State College Savings Plans: Experience And Policy Potential, Margaret M. Clancy, Rebekah Miller
Center for Social Development Research
This brief provides examples of how GEAR UP and state College Savings Plans are working together to provide information and resources to low-income and at-risk students. To illustrate experience and potential, the Center for Social Development documents and assesses four existing partnerships between College Savings Plans and GEAR UP. State-level experiences to date suggest several policy implications.
College Savings Plans: Investment Options, Safety, And Policy Implications, Margaret M. Clancy, Joe Jovanovich
College Savings Plans: Investment Options, Safety, And Policy Implications, Margaret M. Clancy, Joe Jovanovich
Center for Social Development Research
With recent stock market decline, balances in many college savings (529) plans have also declined. Investment options such as money market funds or FDIC-insured CDs are gaining attention, and questions are being raised about the safety of 529 savings plan investments. This brief provides information on 529 savings plan investment options and safety as well as policy implications.
Policy Brief: Pursuing 529 College Savings Plan Exclusion From Oklahoma Asset Limit Tests, Lisa Reyes Mason, Soda Lo, Margaret M. Clancy
Policy Brief: Pursuing 529 College Savings Plan Exclusion From Oklahoma Asset Limit Tests, Lisa Reyes Mason, Soda Lo, Margaret M. Clancy
Center for Social Development Research
Pursuing 529 College Savings Plan Exclusion from Oklahoma Asset Limit Tests
Helping People Act On Their Hopes Rather Than Their Fears: Lessons From Non-Enrollees In The Seed Initiative, Trina Williams Shanks, Toni Johnson, Kerri Nicoll
Helping People Act On Their Hopes Rather Than Their Fears: Lessons From Non-Enrollees In The Seed Initiative, Trina Williams Shanks, Toni Johnson, Kerri Nicoll
Center for Social Development Research
Helping People Act on Their Hopes Rather Than Their Fears: Lessons From Non-Enrollees in the SEED Initiative
Excluding 529 College Savings Plan Accounts From Oklahoma Public Assistance Asset Limit Tests, Lisa Reyes Mason, Margaret M. Clancy, Soda Lo
Excluding 529 College Savings Plan Accounts From Oklahoma Public Assistance Asset Limit Tests, Lisa Reyes Mason, Margaret M. Clancy, Soda Lo
Center for Social Development Research
Excluding 529 College Savings Plan Accounts From Oklahoma Public Assistance Asset Limit Tests
Reforming 529 College Savings Plans To Better Reach Low-Income Families, Margaret Clancy, Leslie Parrish
Reforming 529 College Savings Plans To Better Reach Low-Income Families, Margaret Clancy, Leslie Parrish
Center for Social Development Research
Reforming 529 College Savings Plans to Better Reach Low-Income Families
Saving For College In Maine's Matching Grant Program: Account Owner Experiences, Lisa Reyes Mason, Margaret Clancy, Margaret Sherraden, Chang-Keun Han
Saving For College In Maine's Matching Grant Program: Account Owner Experiences, Lisa Reyes Mason, Margaret Clancy, Margaret Sherraden, Chang-Keun Han
Center for Social Development Research
Saving for College in Maine's Matching Grant Program: Account Owner Experiences