Center on Assets, Education, and Inclusion

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Little is known about the impact of assets on low- to -moderate-income (LMI) young adults’ college progress. In this study college progress refers to young adults who were currently enrolled in, or who have a degree from, a 2-year college or a 4-year college. Findings from this study suggest LMI young adults with school savings were more than three times as likely to be on course than LMI young adults without any savings or who had savings but had not designated any of it for school. In regard to net worth, we found no evidence to suggest that higher amounts of negative net worth were statistically significant; however, high positive net worth was associated with LMI young adults college progress. Findings suggest policy instruments designed to assist adolescents to save such as universal Child Development Accounts may be a simple and effective strategy for helping to keep LMI young adults on course.


Elliott, W., Constance-Huggins, M.,* and Song, H.* (2013). Improving college progress among low- to moderate-income (LMI) young adults: The role of assets. Journal of Family and Economic Issues 34, 382-399.

Children's Savings Account Journal Article Year 2013