Social Work Commons^™

Financial Capability And Asset Building In Social And Economic Development: Advancing The Sustainable Development Goals, David Ansong, Moses Okumu, Jin Huang`, Margaret S. Sherraden, Lissa Johnson, Li Zou

Center for Social Development Research

The concern for economic well-being undergirds most of the United Nations Sustainable Development Goals. This Perspective articulates an agenda for advancing those goals in resource-constrained countries by leveraging financial capability and asset-building (FCAB) strategies. It also specifies a role for financial technology (commonly called “FinTech”) in this work. The authors conclude with a call for better integrating FCAB and FinTech into plans for advancing the SDGs.

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 …

Seed For Oklahoma Kids Wave 3: Extending Rigorous Research And A Successful Policy Model, Margaret M. Clancy, Michael Sherraden, Sondra G. Beverly

Center for Social Development Research

With support from philanthropists, the Center for Social Development at Washington University in St. Louis (CSD) is conducting a third wave of research in the SEED for Oklahoma Kids (SEED OK) experiment. A research study of exceptional quality, SEED OK represents an opportunity to assess the long-term potential of Child Development Accounts (CDAS)—a national system of asset-building accounts for children and youth.1 Wave 3, taking place in 2019 and 2020, expands the original CDA in SEED OK with an automatic progressive deposit, and extends the longitudinal research to examine the impacts of the CDA when the children are in middle …

Faculty Perspectives On Financial Capability And Asset Building In Social Work Education: A Research Report, Margaret S. Sherraden, Jin Huang, Lissa Johnson, Peter Dore, Julie Birkenmaier, Vernon Loke, Sally Hageman

Center for Social Development Research

This report is based on a study conducted in collaboration with the Council on Social Work Education. The report presents findings from a national online survey of social work faculty. Results identify financial and economic (F&E) content taught in the current curriculum, gaps in coverage, and strategies for improving the academic preparation of social workers in these areas. Findings will inform financial capability and asset-building curriculum and improve the academic preparation of social workers.

Policy Recommendations For Meeting The Grand Challenge To Achieve Equal Opportunity And Justice, Ruth G. Mcroy, Yolanda C. Padilla, Rocío Calvo, Jeremy T. Goldbach, Martell L. Teasley, Hortensia Amaro, Marilyn Armour, Manuel Cano, Sandra E. Crewe, Westy Egmont, Victor J. Figuero, Rowena Fong, Cynthia G. S. Franklin, Ruby M. Gourdine, John L. Jackson Jr., Mit Joyner, Michael S. Kelly, James E. Lubben, Larry Ortiz, Macheo Payne, Robert Rosales, William A. Vega, Michael D. Walter, Mary C. Waters

Center for Social Development Research

This brief was created forSocial Innovation for America’s Renewal, a policy conference organized by the Center for Social Development in collaboration with the American Academy of Social Work & Social Welfare, which is leading theGrand Challenges for Social Work initiative to champion social progress. The conference site includes links to speeches, presentations, and a full list of the policy briefs.

Policy Recommendations For Meeting The Grand Challenge To Ensure Healthy Development For All Youth, J.David Hawkins, Jeffery M. Jenson, Jordan Devylder, Richard F. Catalano, Gilbert J. Botvin, Mark Fraser, Kimberly A. Bender, Valerie A. Shapiro, Brian Bumbarger

Center for Social Development Research

This brief was created forSocial Innovation for America’s Renewal, a policy conference organized by the Center for Social Development in collaboration with the American Academy of Social Work & Social Welfare, which is leading theGrand Challenges for Social Work initiative to champion social progress. The conference site includes links to speeches, presentations, and a full list of the policy briefs.

Home Delinquency Rates Are Lower Among Aca Marketplace Households: Evidence From A Natural Experiment, Emily A. Gallagher, Radhakrishnan Gopalon, Michal Grinstein-Weiss, Stephen P. Roll, Genevieve Davison

Center for Social Development Research

This brief uses administrative income tax data coupled with survey responses from roughly 5,000 households living near the poverty line to estimate how access to the Affordable Care Act’s health insurance Marketplaces have affected households’ experiences of extreme illiquidity, which is measured by delinquencies on home payments. To estimate this relationship, we exploit a natural experiment underway in states that did not expand Medicaid and created by the eligibility rules for Marketplace subsidies. Results suggest that insured households living near the poverty line are better able to make timely rent and mortgage payments compared with similar, uninsured households. Given housing …

Leveraging Tax Time To Build Financial Capability: Research Evidence And Policy Directions, Meredith Covington, Jane E. Oliphant, Michal Grinstein-Weiss

Center for Social Development Research

Over the past decade, a variety of initiatives have been implemented in the United States to facilitate saving and build financial security at tax time, including national experiments, pilot programs, and federal and state policies. Much progress has been made in encouraging tax filers, especially low- to moderate-income (LMI) tax filers, to save a portion of their refund. To expand upon the “golden moment” of saving at tax time, policymakers, practitioners, and researchers must now seek ways in which the lump sum of saving at tax time can serve to render tax filers capable of confidently managing their financial lives. …

Financial Outcomes In Seed For Oklahoma Kids, Margaret M. Clancy, Sondra G. Beverly, Michael Sherraden

Center for Social Development Research

The SEED for Oklahoma Kids (SEED OK) experiment is a large-scale policy test of universal, automatic, and progressive Child Development Accounts (CDAs). This fact sheet highlights selected SEED OK financial outcomes measured between 2007 and 2014. Because of SEED OK’s automatic account opening and initial deposits, the CDA has especially large impacts on OK 529 savings among disadvantaged children. Advantaged children are more likely than disadvantaged children to have individual savings in OK 529 accounts, and average individual savings are higher for advantaged children. But, the CDA increases the likelihood that disadvantaged children have OK 529 accounts opened by their …

Tax Abatement In Saint Louis: Reforms Could Foster Equitable Development, Claire Dewind, Jennifer Dickey, Ellen O'Neill, Molly W. Metzger

Center for Social Development Research

Across the United States, municipal governments use tax abatement in various ways to incentivize development and revitalize urban areas. In Saint Louis, historical housing trends related to deindustrialization, redlining, and “white flight” led to the City’s depopulation, creating the current need to incentivize development. However, in certain neighborhoods, development now occurs without tax abatement, and some homeowners and developers receive tax abatement despite being able to afford paying taxes. This points to a need to understand where and when tax abatement is necessary, and whether it is being used effectively. In this brief, we ask the following questions: (1) Does …

Racial Disparities In Student Debt: Evidence From The Refund To Savings Initiative, Samuel H. Taylor, Dana C. Perantie, Nava Kantor, Michal Grinstein-Weiss, Shenyang Guo, Ramesh Raghavan

Center for Social Development Research

This brief provides evidence that low- and moderate-income (LMI) Black households accumulate significantly more debt in pursuit of a higher education than do LMI White students, even after using rigorous methods to account for race- and debt-related confounders. Using data from the Refund to Savings experiment, the authors find that LMI Black households accrued $7,721 more in student loan debt than their White counterparts did. This finding is crucial in light of the financial vulnerability of this population both before and after college. That vulnerability potentially contributes to diminished returns and exacerbates racial disparities in educational outcomes and wealth accumulation. …

A Savings Account For Every Child Born In Israel: Recommendations For Program Implementation, Michal Grinstein-Weiss, Meredith Covington, Margaret M. Clancy, Michael Sherraden

Center for Social Development Research

In November 2015, Israel enacted legislation to create and fund a Child Development Account program. Beginning in 2017, every baby born to an insured Israeli resident will receive a Child Development Account in his or her name. This brief details the policy, which was developed in collaboration with researchers at the Center for Social Development, and offers recommendations to guide its implementation.

Research Summary: Universal Accounts At Birth: Results From Seed For Oklahoma Kids, Sondra G. Beverly, Margaret M. Clancy, Michael Sherraden

Center for Social Development Research

This research summary consolidates 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). Studies report the positive impacts of the CDA on financial outcomes (e.g., OK 529 college savings account holding and savings) and on nonfinancial outcomes (e.g., educational expectations, mother’s mental health, and child development). The impacts are often greater for disadvantaged and at-risk children. of note, the automatic components make the CDA in SEED OK inclusive and reduce asset inequality early in life. SEED OK studies indicate the importance of automatic account …

Support For A Tax-Time Savings Policy: Interest In Deferring Tax Refunds With Matched Incentives, Dana C. Perantie, Jane E. Oliphant, Michal Grinstein-Weiss

Center for Social Development Research

Support for a Tax-Time Savings Policy: Interest in Deferring Tax Refunds With Matched Incentives

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.

Evicting Victims: Reforming St. Louis's Nuisance Ordinance For Survivors Of Domestic Violence, Nava Kantor, Molly W. Metzger

Center for Social Development Research

Nuisance ordinances, established in municipalities nationwide to ostensibly protect the well-being of residents, threaten property owners with fines and jail time if they fail to abate a nuisance occurring on their property. Rather than promoting conflict resolution, such punitive consequences incentivize landlords to simply evict the tenants causing the nuisance. The enforcement of nuisance ordinances can have detrimental and disproportionate effects on already vulnerable populations, including tenants in domestic violence situations. The City of St. Louis employs a chronic nuisance ordinance, which is based in part on the number of police calls to a property. This ordinance can force survivors …

Working With Passion, Effecting Change In A Context Of Uncertainty, Sandra M. Moore

Center for Social Development Research

This CSD Perspective has been adapted from a commencement address given by Sandra M. Moore on May 14, 2015, before the Brown School of Social Work at Washington University.

Closing The Racial Wealth Gap: Innovative Solutions For Change, Southern Regional Asset Building Coalition

Center for Social Development Research

Closing the Racial Wealth Gap: Innovative Solutions for Change

From Mass Incarceration To Smart Decarceration, Carrie Pettus-Davis, Matthew W. Epperson

Center for Social Development Research

American Academy of Social Work and Social Welfare Grand Challenges Initiative Concept Paper

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.

Social Challenges And Policy Innovations By Social Workers In Australia, Manohar Pawar

Center for Social Development Research

By summarizing the social challenges in the contemporary Australian context, this article aims to discuss policy innovations by Australian social workers. Acknowledging that the concept of policy innovation is broad and sometimes ambiguous, it looks at four examples by social workers. Drawing on secondary data analysis, it discusses how social workers played an important role in introducing legislative changes/amendments to protect children in difficult circumstances, resisted a refugee policy that incarcerates innocent children, challenged and changed procedures and policies within an organization, and influenced policymakers to revert budgetary decisions to enhance access to services. These examples show the social workers’ …

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

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

Center for Social Development Research

Building a Lifetime of Economic Security: Mobilizing for Change

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

Youth-Related Policies, Center For Social Development, Institute For Statistical, Social, And Economic Research, Kenya Institute For Public Policy Research And Analysis, New Era; Universidad De Los Andes

Center for Social Development Research

Youth-Related Policies

Challenges And Opportunities For Youth Saving, Center For Social Development, Kenya Institute For Public Policy Research And Analysis, Institute For Statistical, Social, And Economic Research, New Era; Universidad De Los Andes

Center for Social Development Research

Challenges and Opportunities for Youth Saving

College Savings Match Programs: Design And Policy, Terry Lassar, Margaret M. Clancy, Sarah Mcclure

Center for Social Development Research

We examine here the essential elements and program design of all state 529 savings-match programs as well as the application process and other policy considerations. Like other state programs, 529 savings incentives inevitably reflect the unique demographics, economics, and political makeup of a particular state. This report provides details about inclusive savings-match program features and strategies that could make 529 plans more widely accessible to families of all incomes.

Asset-Based Policy In South Korea, Youngmi Kim, Li Zou, Young Sun Joo, Michael Sherraden

Center for Social Development Research

Asset-Based Policy in South Korea

The Basic Economic Security Tables For The Us Report, Center For Social Development

Center for Social Development Research

The Basic Economic Security Tables for the US Report