Evaluation of the American Dream Demonstration: Impacts of IDAs on Participant Savings and Asset Ownership

This paper presents findings on the effects of individual development accounts (IDAs) on the savings and asset accumulation of program participants. IDAs are subsidized savings accounts targeted for special purposes – typically for homeownership, business capitalization, and postsecondary education, but also (under some programs) for home repair, vehicle purchase, and retirement. The subsidy is provided in the form of match funds to supplement the accountholder’s own deposits and interest, when withdrawn for allowable asset purchases.