Children’s Savings Account: Survey of Private and Public Funding 2019

Children’s Savings Account (CSA) programs offer a promising strategy to build a college-bound identity and make post-secondary education an achievable goal for more low- and moderate-income children. CSAs provide children (starting in elementary school or younger) with savings accounts and financial incentives for the purpose of education after high school. Beyond their financial value, CSAs are associated with beneficial effects for children and parents, including improved early child development. child health, maternal mental health, educational expectations, and academic performance. Many of these benefits are strongest for children from low-income families.

This report shares a snapshot of the scale and makeup of the funding for the CSA field in 2019. It follows similar AFN reports on CSA funding in 2014-2015 and 2017 and captures the following data on CSA programs’ financial support in calendar year 2019:

  • Private and public financial investments.
  • Private and public in-kind contributions.
  • Intended uses of funds.



Expanding Educational Opportunity Through Savings

This brief discusses the benefits that Children's Savings Accounts (CSAs) bring to help more families save for their children's education. Recommendations to federal policies in the United States are made for the purpose of helping families to start saving early to build greater savings and impact.



Examining the Canadian Education Savings Program and its Implications for US Child Savings Account (CSA) Policy

This report analyzes the Canadian experience with education savings programs, as the US moves towards more comprehensive Children's Savings Account policy.



“We’re Going to Do This Together”: Examining the Relationship between Parental Educational Expectations and a Community-Based Children’s Savings Account Program

This paper presents quantitative and qualitative evidence of the relationship between exposure to a community-based Children’s Savings Account (CSA) program and parents’ educational expectations for their children. First, we examine survey data collected as part of the rollout and implementation of The Promise Indiana CSA program. Second, we augment these findings with qualitative data gathered from interviews with parents whose children have Promise Indiana accounts.

Though results differ by parental income and education, the quantitative results using the full sample suggest that parents are more likely to expect their elementary-school children to attend college if they have a 529 account or were exposed to the additional aspects of The Promise Indiana program (i.e., the marketing campaign, college and career classroom activities, information about engaging champions, trip to a University, and the opportunity to enroll into The Promise).