This brief presents a policy model for partnering statewide Child Development Accounts (CDAs) with other federal, state, city, and community services for financially vulnerable families. All statewide CDAs use 529 plans as their financial platform.
The brief first outlines the different strengths of local municipalities, social service organizations, and statewide CDAs, and then illustrates the benefits of a combined policy model. The model is designed to increase the positive impacts at scale and ensure that statewide CDAs complement but do not replace efforts by local organizations and governments. With partnerships formed and common challenges met, statewide CDAs, local municipalities, and social service organizations will be better able to offer efficient and sustainable services, and build assets for all children.
Clancy, M. M., Sherraden, M., Huang, J., Beverly, S. G., & Kim, Y. (2019, November). Statewide Child Development Accounts and local partnerships: A scalable model that can include all children (CSD Policy Brief No. 19-45). St. Louis, MO: Washington University, Center for Social Development. https://doi.org/10.7936/q310-7h95