This report presents findings on the effects of individual development accounts (IDAs) on the savings and asset accumulation of low-income individuals. IDAs are subsidized savings accounts that are targeted for special purposes – typically for homeownership, business capitalization, and postsecondary education, but also (under some programs) for home repair or improvement, vehicle purchase, and retirement. The subsidy is provided in the form of funds that match the account holder’s withdrawals for allowable asset purchases, at match rates that can exceed 1:1.
Mills, G., Patterson, R., Orr, L., & DeMarco, D. (2004). Evaluation of the American Dream Demonstration: Final evaluation report. Cambridge, MA: Abt Associates, Inc.