Center on Assets, Education, and Inclusion

  1. Latino Immigrant Families Saving in Children's Savings Account Program against Great Odds - Executive Summary

    This study uses administrative records from New Mexico’s Prosperity Kids Children’s Savings Account (CSA) program and in-depth interviews with a sample of participating parents and children to examine savings outcomes and experiences for these low-income Latino families. At this point in the CSA’s evolution, 29% of Prosperity Kids accounts have seen deposits from families’ saving. As of December 2015, among families who contributed in addition to match or incentives, 54% have saved more than $100 in their account. The median total account value for these families was $345 at the end of 2015 (mean, $394). The median amount of family deposits is $123 (mean, $155), with median match deposits of $124 (mean, $139). Average monthly contributions are $12 (ranging from <$1 to $220). Average quarterly contributions were $31.

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    Citation

    Lewis, M., O'Brien, M., Elliott, W., Harrington, K., Crawford, M. (2016) Immigrant Latina Families Saving in Children’s Savings Account Program against Great Odds: The Case of Prosperity Kids - Executive Summary. Lawrence, KS: University of Kansas, Center on Assets, Education, and Inclusion.

    Authors

    Lewis, Melinda, O'Brien, Megan, Jung, Euijin, Harrington, Kelly, Jones-Layman, Amanda

    Children's Savings Account Executive Summary Year 2016

  2. Latino Immigrant Families Saving in Children's Savings Account Program against Great Odds: Prosperity Kids

    This study uses administrative records from New Mexico’s Prosperity Kids Children’s Savings Account (CSA) program and in-depth interviews with a sample of participating parents and children to examine savings outcomes and experiences for these low-income Latino families. At this point in the CSA’s evolution, 29% of Prosperity Kids accounts have seen deposits from families’ saving. As of December 2015, among families who contributed in addition to match or incentives, 54% have saved more than $100 in their account. The median total account value for these families was $345 at the end of 2015 (mean, $394). The median amount of family deposits is $123 (mean, $155), with median match deposits of $124 (mean, $139). Average monthly contributions are $12 (ranging from <$1 to $220). Average quarterly contributions were $31.

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    Citation

    Lewis, M., O'Brien, M., Elliott, W., Harrington, K., Crawford, M. (2016) Immigrant Latina Families Saving in Children’s Savings Account Program against Great Odds: The Case of Prosperity Kids. Lawrence, KS: University of Kansas, Center on Assets, Education, and Inclusion.

    Authors

    Lewis, Melinda, O'Brien, Megan, Harrington, Kelly, Crawford, Mac

    Children's Savings Account Working Paper Year 2016

  3. Saving and Educational Asset-Building within a Community-Driven CSA Program

    In this report AEDI presents three separate but complementary studies that analyze data from the Promise Indiana CSA Program Intervention. First, analysis of a survey conducted by Promise Indiana staff with families in the Promise Indiana target population examines attributes associated with knowledge and ownership of 529 accounts. Second, analysis of savings data collected by Ascensus College Savings on behalf of Promise Indiana considers patterns of deposits, asset accumulation, and account ownership by families who have opened CollegeChoice 529 accounts through Promise Indiana. Third, findings from interviews with a subsample of parents whose children have 529 CollegeChoice accounts opened through Promise Indiana are shared to provide some qualitative context for parental perceptions about college savings within this community-driven CSA program.

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    Citation

    Lewis, M., Elliott, W., O'Brien, M., Jung, E., Harrington, K., Jones-Layman, A. (2016) Saving and Educational Asset-Building within a Community-Driven CSA Program: The Case of Promise Indiana. Lawrence, KS: University of Kansas, Center on Assets, Education, and Inclusion.

    Authors

    Lewis, Melinda, O'Brien, Megan, Jung, Euijin, Harrington, Kelly, Jones-Layman, Amanda

    Children's Savings Account Working Paper Year 2016