Universal and Progressive Child Development Accounts: A Policy Innovation to Reduce Educational Disparity

Child Development Accounts (CDAs) aim to increase college completion rates among disadvantaged youth by helping youth see themselves as “college bound.” This article summarizes findings about the implementation and impacts of universal, progressive CDAs, with emphasis on outcomes for disadvantaged c...

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Bibliographic Details
Published in:Urban education (Beverly Hills, Calif.) Calif.), 2018-07, Vol.53 (6), p.806-833
Main Authors: Sherraden, Michael, Clancy, Margaret, Nam, Yunju, Huang, Jin, Kim, Youngmi, Beverly, Sondra, Mason, Lisa Reyes, Williams Shanks, Trina R., Wikoff, Nora Ellen, Schreiner, Mark, Purnell, Jason Q.
Format: Article
Language:English
Subjects:
Academic achievement
Academic Aspiration
Child Development
Children
College Bound Students
College Preparation
Development policy
Disadvantaged
Disadvantaged Youth
Educational Attainment
Equal Education
Expectation
Expectations
Implementation
Income
Minority Group Students
Money Management
Ownership
Parent Background
Poverty
Program Effectiveness
Randomized Controlled Trials
Savings accounts
Semi Structured Interviews
Surveys
Well Being
Youth
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Summary:Child Development Accounts (CDAs) aim to increase college completion rates among disadvantaged youth by helping youth see themselves as “college bound.” This article summarizes findings about the implementation and impacts of universal, progressive CDAs, with emphasis on outcomes for disadvantaged children. Data come from a large randomized experiment. CDAs positively affect ownership of college savings accounts and assets, educational expectations, and other indicators of well-being. Disadvantaged children especially benefit from having a CDA. If CDAs prove to have long-term effects on educational expectations, college preparation, and educational achievement, then a national universal, progressive CDA could reduce educational disparities.
ISSN:0042-0859
1552-8340
DOI:10.1177/0042085916682573