529 plans

William Elliott: Does Structural Inequality Begin with a Bank Account?

January 12, 2012
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As we announced last week, the Asset Building Program and the Center for Social Development at Washington University in St. Louis are co-releasing a series of reports, Creating a Financial Stake in College, by William Elliott III on the importance of children's savings and college outcomes. The second report in the series is being released today and is available for download here. The press release from last week is also available here.

Does Structural Inequality Begin with a Bank Account?

  • By
  • William Elliott,
  • New America Foundation
January 12, 2012

“Creating a Financial Stake in College” is a four-part series of reports that focuses on the relationship between children’s savings and improving college success. This series examines: (1) why policymakers should care about savings, (2) the relationship between inequality and bank account ownership, (3) the connections between savings and college attendance, and (4) recommendations to refine children’s savings account proposals.

New Series: Creating a Financial Stake in College

January 5, 2012
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The Asset Building Program and the Center for Social Development at Washington University in St. Louis (CSD) are pleased to publish a series of reports collectively titled "Creating a Financial Stake in College." Authored by William Elliott III, professor at University of Kansas School of Social Welfare, the four-part series focuses on the relationship between children's savings and improving college success.

Don't Miss These Upcoming Asset-Building Presentations

January 3, 2012
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If you live or work in the Washington, D.C. / Virginia / Maryland area and are interested in asset-building, you are in for a treat. During January 11-15, 2012, approximately 20 individual research papers and posters focusing on asset-building research will be presented at the annual conference of the Society for Social Work and Research (SSWR). This research is the latest and greatest from some of the leading researchers in the asset-building field, including Gina Chowa, Michal Grinstein-Weiss, Vernon Loke, Jin Huang, and Youngmi Kim. Topics include savings at tax time, financial capability of youth in international settings, home ownership and housing stability, and debt and asset accumulation. The conference will be held at the Grand Hyatt Washington. Presentations that are "don't miss" are listed below. Click on the number at the end of the titled presentation for a direct link to the complete abstract.

Summarizing the Research: Asset Effects for Children with Disabilities

December 23, 2011
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During one of our recent events, Sheldon Garon of Princeton University and Ray Boshara of the Federal Reserve Bank of St. Louis referred to the weak household balance sheet as one of the core economic challenges of our time, suggesting that households must focus on asset-building rather than rely on credit and debt.

529 Tax Benefits Vary Widely Across States

December 5, 2011

The Wall Street Journal has a good, foundational piece up on the varying nature of state tax benefits in the various 529 programs offered by the states. Here's Annamaria Andriotis

Recovery and Resiliency

November 14, 2011

CASA of Oregon, Neighborhood Partnerships, and NeighborWorks Umpqua hosted Rebuilding the Path of Opportunity: An Oregon Asset Builders' Conference on November 9-10. Rachel Black presented "Recovery and Resiliency" at a plenary exploring the landscape of policy options to expand savings opportunities among lower-income households from the local to the national level. In the presentation, she gives a federal policy perspective and argues that helping households build financial resiliency through savings should be a core part of the economic recovery agenda.

Opening Savings Accounts at Tax-Time

November 8, 2011

On November 3rd, Rachel Black presented "Opening Savings Accounts at Tax-Time: From Pilot to Policy" as part of the "Savings at Tax Time: Field Experiments and Policy Implications" session at the 2011 APPAM Research Conference in Washington, DC. This session detailed the latest findings from $aveNYC, a pilot launched by the City of New York to increase savings at tax-time, detailed the research agenda for the SaveUSA pilot expansion, and explored the implications this model has for federal policy design.

Congress: Don't Squander America's Big Investment Opportunity

  • By
  • Rachel Black,
  • New America Foundation
October 21, 2011 |

Two years into economic recovery from the Great Recession, over 46 million Americans live in poverty, including 16 million children, according to the latest data released by the US Census Bureau. But beyond these staggering numbers, the report also clearly identifies a key investment opportunity that could produce higher incomes, lower rates of poverty, a more resilient labor force, and even higher tax revenue.

Summarizing the Research: Evidence from a Statewide Randomized Experiment Testing CDA Policy

October 18, 2011
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A growing number of studies examine the relationships between children’s savings accounts and their educational and financial outcomes. (Please see the Center for Social Development’s website or read this review article for more information on the studies examining these relationships). Consistently, children who have savings accounts early in life have significantly better educational and financial outcomes compared to children who do not have savings accounts early in life. These findings hold true even after taking into consideration things like academic achievement, household income, and household net worth.

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