A group of experts and researchers is making the case for a nationwide Child Development Account (CDA) policy. The group, which includes CSD Founding Director Michael Sherraden and Policy Director Margaret Clancy, recently released the outline in a pair of CDA policy briefs. The briefs are entitled “The Case for a Nationwide Child Development Account […]
New research from the Center for Social Development (CSD) shows that parents of newborns with Child Development Accounts (CDAs) respond by deepening their commitment to the child’s higher education and their own efforts to save for that education. The findings come from two newly released publications: a research summary of account and savings data from […]
What would it take to ensure that every child in every state has an account accumulating assets for education beyond high school? How would those assets shape the children and their families? State officials, researchers, nonprofit leaders, program managers, and funders gathered July 16 to take up those questions.
Thirteen years after they began, researchers in a landmark study of asset building in Oklahoma are poised to receive new information gathered despite obstacles posed by COVID-19.
The report summarizes findings and recommendations from CDA research to inform policymakers and practitioners operating or considering CDAs in the midst of the COVID-19 health and economic crisis.
A study from the Center for Social Development’s SEED for Oklahoma Kids (SEED OK) experiment has been nominated for an award given to the best paper published in the Journal of Consumer Affairs.
CSD research and expertise shape proposal for a universal policy in the Show-Me state.
An expanding partnership is pursuing legislation for Missouri children in 2020.
Amendments enacted on Wednesday, October 2, will affect all newborn children in California. The state became the third this year to adopt a universal, at-birth Child Development Account (CDA) policy.
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’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.
Michael Sherraden will discuss potential federal policy for inclusive and progressive Child Development Accounts (CDAs), so that all U.S. children can accumulate assets, on March 20 at the National Press Club, in Washington, D.C. Several states have already enacted statewide CDA policies, and a nationwide policy is possible. Sherraden is the George Warren Brown Distinguished […]
With financial support from philanthropists, the Center for Social Development is conducting a third wave of research on Child Development Accounts (CDAs) in the Oklahoma 529 College Savings Plan. Wave 3 of the SEED for Oklahoma Kids (SEED OK) experiment expands the original CDA with an automatic, progressive deposit and extends the research to examine […]
Center for Social Development Policy Director Margaret Clancy testified Tuesday before the Nebraska Legislature’s Education Committee. The subject: Child Development Account policy and research results.
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.
With bipartisan support, Pennsylvania is launching a statewide policy to provide college savings accounts for all newborns with a $100 scholarship grant. The universal, automatic-enrollment Child Development Account policy will affect many families: Pennsylvania averages 140,000 births a year.
About 50 researchers, practitioners, policymakers and funders met this month in Washington, D.C., to discuss how to advance the field of Child Development Account programs by making them sustainable and scaleable to reach millions.
A new CSD brief aims to advance Child Development Account policy by identifying 10 elements for universal and progressive CDAs at scale.
As economists float the proposal to give every newborn in the United States a “baby bond” account with between $500 to $50,000 in cash, Michael Sherraden, director of the Center for Social Development, says a solution already exists — Child Development Accounts.
Four states have created statewide Child Development Account policies, and a new report describes them in detail with the intent of informing new initiatives in the United States.
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.
Newly elected Missouri State Treasurer Eric Schmitt kicked off the June 20 Child Development Account Forum by saying his office is “very focused” on the Missouri MOST 529 College Savings Plan.
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!
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.
“Financial capability and asset building” is the theme of the 60th anniversary issue of Social Work. Articles by several researchers at the Center for Social Development were published in the October 2016 issue of the flagship journal of the National Association of Social Workers.
The Center for Social Development hosted a seminar this month for social workers and others from South Korea, part of a larger training program focused on developing financial capability for Korean youth.
Social Security provides an important base of income, and without it about 50 percent of America’s elderly would live in poverty, said David Certner, legislative counsel and legislative policy director for government affairs at AARP.
On August 18, the Center for Social Development received the College Kids Ambassador Award from the St. Louis Treasurer’s Office of Financial Empowerment.
More than 60 people from 10 states and the District of Columbia participated in the “Child Development Account Forum” on August 16 at the Brown School.
Building on a longtime working history, leadership from the Center for Social Development formally advised the Israeli government in May on best practices for implementing the country’s new law to confer universal savings accounts on children born in Israel. The law takes effect in January 2017.
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.
Families’ costs have decreased for Missouri’s MOST 529 college savings plan, and now there is no minimum deposit required to open an account.
Every student in public, private and home schools in Salem City, N.J., will have access to a seed deposit in a 529 college savings account starting in April, officials announced.
Every kindergartner enrolled this year in St. Louis City public and charter schools is receiving a college savings account, Treasurer Tishaura O. Jones said at the official launch of the College Kids program.
More than 100 people gathered in St. Louis in October to hear leading experts discuss the latest research, funding, program and account-structure ideas in the growing field of Child Development Accounts.
The Ferguson Commission in its report released this week called for universal Child Development Accounts that are statewide and automatic.
Israel’s parliament will consider a state budget this fall that includes funding for long-term savings accounts for all newborns, a proposal authored by Michal Grinstein-Weiss, PhD, the associate director of the Center for Social Development, and based on research efforts led by Michael Sherraden, PhD, the director of CSD.
At the Center for Social Development, we believe that financial security should be lifelong, starting at birth and extending from childhood through adulthood. Today CSD is proud to join CFED and more than a dozen other partners in launching the Campaign for Every Kid’s Future.
Singapore’s innovative response to its rough and vulnerable beginning has shaped the first 50 years of the island country, Michael Sherraden said Wednesday, speaking to a crowd gathered at the National University of Singapore for his public lecture marking Singapore’s 50th Anniversary as an independent nation.
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.
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.
The Center for Social Development at Washington University in St. Louis built on an already engaged and productive relationship this month when it co-sponsored a symposium with the Center for Household Financial Stability at the Federal Reserve Bank of St. Louis.
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.
A college savings account in a child’s name not only gives parents hope for the future, it also results in improved social-emotional health for their children.
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.
Brown School alumna Molly Wimonmat Srichamroen has created a first-of-its-kind children’s savings program in her native Thailand, using knowledge she gained at the Center for Social Development. Srichamroen was also a scholar in Washington University’s McDonnell International Scholars Academy.
A special issue of “Economics of Education Review” marks the first comprehensive set of studies that link assets and educational attainment. Research provides evidence that college savings should be included in policies for educational financing.
When every dollar is spent on necessities like diapers, gasoline and utilities, saving for college may be the furthest thing from a new parent’s mind. Mothers participating in a research study, however, suggest that a college savings account with $1,000 makes them feel optimistic about their children’s postsecondary education.
Asset-building scholars, policymakers, and foundations gathered earlier this month in Washington, DC to celebrate the 21st anniversary of “Assets and the Poor: A New American Welfare Policy.”
In Assets and the Poor, Michael Sherraden, PhD, the Benjamin E. Youngdahl Professor of Social Development at the Brown School at Washington University in St. Louis, writes that asset accumulation is structured and subsidized for many non-poor households, primarily via retirement accounts and home ownership.