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Full-Text Articles in Social Work
New Measures Of Economic Security And Development: Savings Goals For Short-Term And Long-Term Economic Needs, Yunju Nam, Yungsoo Lee, Shawn Mcmahon, Michael Sherraden
New Measures Of Economic Security And Development: Savings Goals For Short-Term And Long-Term Economic Needs, Yunju Nam, Yungsoo Lee, Shawn Mcmahon, Michael Sherraden
Center for Social Development Research
The long-term economic security and development of a family depend largely upon saving and asset-accumulation, yet most measures of economic well-being focus on short-term consumption needs. This study takes a broader view, developing precautionary, retirement, homeownership and education savings goals. Together these savings goals constitute a new set of asset-based measures of family financial well-being. Estimated savings needs depend upon family type and other assumptions, and we consider investment gains and differences in dollar values over time in our calculations. This study shows that families should save $155 to $572 every month to address all four savings needs. The number …
Baseline Survey Of The Third Cohort: A Supplemental Report From The Youthsave Ghana Experiment, Gina Chowa, David Ansong, Rainier Masa, Shiyou Wu, Yalitza Ramos, Meli Blake Kimathi
Baseline Survey Of The Third Cohort: A Supplemental Report From The Youthsave Ghana Experiment, Gina Chowa, David Ansong, Rainier Masa, Shiyou Wu, Yalitza Ramos, Meli Blake Kimathi
Center for Social Development Research
Baseline Survey of the Third Cohort: A Supplemental Report From the YouthSave Ghana Experiment
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 …
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
Does Outstanding Student Debt Reduce Asset Accumulation?, William Elliott, Michal Grinstein-Weiss, Ilsung Nam
Does Outstanding Student Debt Reduce Asset Accumulation?, 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 assess whether student loan debt is associated with total assets. They find that median 2009 assets for households with no outstanding student loan debt ($207,000) are higher than they are for households with outstanding student loan debt ($174,000). Multivariate statistics indicate that a household with a four-year college graduate, outstanding student loan debt, and median assets ($451,520) in 2007 had $136,73 (36%) less home equity in 2009 than a household with a similar household with no outstanding student loan debt. The main policy implication of this study …