Advancing Hope at the Local Level: Children's Savings Accounts
Type
Policy Brief or Report
Year
2023
Level
City or Town, National
State(s)
California, Georgia, Massachusetts, Michigan, Minnesota
Policy Areas
Community Development, Economic Justice, Education
The cost of higher education is rising and communities depend on an educated workforce. Children's Savings Accounts (CSAs) help young children save for postsecondary education and are linked to financial stability, closing the racial wealth divide, and improving literacy. Best practices for CSA programs include automatic enrollment, starting at birth, universal eligibility, and progressive contributions.