Center on Assets, Education, and Inclusion

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Descriptive data indicate that 62% of White young adults between the ages of 17 and 23 years were on course (i.e., either in college or have graduated from college) in 2007, compared with only 37% of Black young adults. Given this, finding novel and promising ways to promote college progress among Black young adults, in particular, is a growing concern for policy makers. Controlling for a number of factors, the authors find that young adults who have school savings as adolescents are more likely to be on course than young adults who did not have school savings regardless of race. The authors conclude that policies that help parents and adolescents accumulate savings may be a simple and effective strategy for helping keep young adults “on course” in their college education, while taking on less debt.


Elliott, W. and Nam, I.* (2012). Direct effects of assets and savings on the college progress of Black young adults. Educational Evaluation and Policy Analysis, 34(1), 89-108.

Children's Savings Account Journal Article Year 2012