Illinois Approves Child Development Accounts for All Newborns

Illinois state capitol, Springfield, Illinois

Illinois became the most recent state in the U.S. to adopt universal Child Development Accounts on August 23, when Gov. J.B. Pritzker signed legislation to open a 529 college savings plan account with deposits for every child born or adopted in Illinois after Dec. 31, 2020.

Nebraska Approves Universal, At-Birth CDA Policy

Nebraska’s legislature today approved a universal Child Development Account (CDA) policy that will cover every resident born in the state on or after January 1, 2020.

Missouri Child Development Account Forum

June 13, 2019, 10:00 a.m. to 2:00 p.m., Hillman Hall classroom 130, Brown School of Social Work, Washington University in St. Louis

Forum focuses on expanding access to 529 college savings plans

More than 65 invited guests from 18 states and the District of Columbia attended a lively Child Development Account Forum in late July at the Brown School of Social Work. CSD and Missouri State Treasurer Eric Schmitt, who oversees Missouri’s 529 college savings plan, hosted the event.

Child Development Account Forum

July 25, 2018, Clark-Fox Forum, Brown School of Social Work, Washington University in St. Louis

How Do Changes to 529 Rules Affect Children’s Savings Account Programs?

Clancy, M. M., Markoff, S., & King, J. (2018, May). How do changes to 529 rules affect children’s savings account programs? (CSD Research Brief No. 18-24). Washington, DC: Prosperity Now, Washington University, Center for Social Development, and New America.

CSD research informs California’s new college savings grant program

The ScholarShare Investment Board, which oversees California’s 529 college savings plan, will administer the program. Margaret Clancy, policy director at the Center for Social Development, serves on ScholarShare’s Matching Grant Program Advisory Committee.

Update: Financial Capability Month

Financial Capability and Asset Building for All is one of the 12 Grand Challenges for Social Work and a growing practice in the social work profession. The Center for Social Development is committed to working with its partners to increase the financial capability of individuals, families, and communities across the globe!

Do Savings and Assets Reduce Need-Based Aid for Dependent Students?

Clancy, M., & Beverly, S. (2017, February). Do savings and assets reduce need-based aid for dependent students? (CSD Policy Brief No. 17-10). St. Louis, MO: Washington University, Center for Social Development. https://doi.org/10.7936/K7KW5FJX

CSD research informs New York City’s new child savings accounts

The mayor of New York has announced a new child savings account to help thousands of New York City public school children save for college. City officials relied on research from the Center for Social Development to develop the three-year pilot program, which starts next fall.

CSD receives College Kids Ambassador Award

On August 18, the Center for Social Development received the College Kids Ambassador Award from the St. Louis Treasurer’s Office of Financial Empowerment.

CSD research reveals racial disparities in education debt

New research from the Center for Social Development at Washington University showed that low- to moderate-income black students and graduates accrued $7,721 more education debt than their white counterparts.

Rhode Island newborns get college savings

Rhode Island’s treasurer and governor-elect, Gina M. Raimondo, on Dec. 10 announced a policy change to make college savings more accessible for newborn children in that state. In January, it will be as simple as checking a box.

Education Loans and Wealth Building Among Young Adults

Zhan, M., & Xiang, X. (2014). Education loans and wealth building among young adults (CSD Working Paper No. 14-14). St. Louis, MO: Washington University, Center for Social Development.

SEED OK experiment already making an impact on families, policy

An experiment that models the first truly universal Child Development Account policy in the United States shows early positive impacts for parents and children, according to a research summary recently published by the Center for Social Development at Washington University in St. Louis.

Maine becomes first state to provide college savings for all newborns

This week, the state of Maine became the first in the United States to make college savings for newborns universal and automatic, putting into practice research pioneered by Michael Sherraden and the Brown School’s Center for Social Development at Washington University in St. Louis.

Does Outstanding Student Debt Reduce Asset Accumulation?

Elliott, W., III, Grinstein-Weiss, M., & Nam, I. (2013). Does outstanding student debt reduce asset accumulation? (CSD Working Paper No. 13-32). St. Louis, MO: Washington University, Center for Social Development.

As student loan debt passes $1 trillion, seeing decline in return on investment

More than 160 people attended “Generation Debt: the Promise, Perils and Future of Student Loans” at the Federal Reserve Bank of St. Louis on Monday, Nov. 18. The conference was co-sponsored by the St. Louis Fed and the Center for Social Development in the Brown School at Washington University in St. Louis.

Student Debt and Declining Retirement Savings

Elliott, W., III, Grinstein-Weiss, M., & Nam, I. (2013). Student debt and declining retirement savings (CSD Working Paper No. 13-34). St. Louis, MO: Washington University, Center for Social Development.

The Impact of Family Assets and Debt on College Graduation

Zhan, M., & Lanessko, D. (2013, October). The impact of family assets and debt on college graduation (CSD Fact Sheet No. 13-37). St. Louis, MO: Washington University, Center for Social Development.