Featured Pub Asset Building Briefs & Summaries Financial Inclusion

Financial Outcomes in a Child Development Account Experiment: Full Inclusion, Success Regardless of Race or Income, and Investment Growth for All

This research summary presents SEED for Oklahoma Kids (SEED OK) experiment financial outcomes—Oklahoma College Savings Plan 529 (OK 529) account holding and savings—as of December 31, 2019. Released in conjunction with a report of findings from a 2020 survey, Wave 3 of SEED OK occurred when children were about 12 years old, nearing the age when they and their families make decisions about high school curricula and, not long after, postsecondary education. This summary shows that all children can have an asset-building account with resources that grow over time. In particular, the CDA greatly increases the likelihood that disadvantaged children have assets accumulating for their future education. In addition, the CDA in SEED OK has motivated additional OK 529 account opening by treatment parents, additional savings by parents, and greater representation in the ownership of OK 529 accounts by parents from diverse and less advantaged backgrounds. Project: SEED for Oklahoma  Kids (SEED OK)


Clancy, M. M., Beverly, S. G., Schreiner, M., Huang, J., & Sherraden, M. (2021). Financial outcomes in a Child Development Account experiment: Full inclusion, success regardless of race or income, investment growth for all (CSD Research Summary No. 21-06). St. Louis, MO: Washington University, Center for Social Development. https://doi.org/10.7936/fnjg-n539