Center on Assets, Education, and Inclusion

Children’s savings accounts and college promise initiatives could be stronger if the two funding mechanisms for higher education were merged together, a professor argues in new paper that drew praise from a U.S. Senator who says he plans to pursue legislation and funding that would make it easier to do just that.

The idea was proffered Wednesday by Dr. William Elliott III, a professor of social work at the University of Michigan.

For Elliott, children’s savings accounts — or CSAs — can ameliorate a host of problems associated with going to college and paying for it since they involve investing in a child’s college education on the front end with savings instead of at the back end with grants and debt.

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