This report is the first part of a four-part series that focuses on the relationship between children’s savings and improving college success. The first part examines why policymakers should care about savings. The report presents evidence from a set of empirical studies conducted on children’s savings research, with an emphasis on low-income children. the findings of the studies included in this report demonstrate the reality of children savings and why a policy surrounding children savings and college is needed on a national level. Finding alternatives to financial aid policies that continue to increase the amount of college debt children face after college is important for restoring education to the position of the “great equalizer” in society that it was meant to be.
Project: College Success
Elliott, W., III. (2012). Why policy makers should care about children’s savings (Creating a Financial Stake in College, Report No. I). Washington, DC: New America Foundation and Washington University, Center for Social Development.