Abstract
Today, more than half of families with children
(52%) are asset-poor, meaning they do not have
enough savings to live at the federal poverty
level for three months without an income [1],
let alone pay for higher education. Children’s
Savings Account (CSA) programs provide savings
or investment accounts and financial incentives
to children for the specific purpose of funding
postsecondary education or other asset-building.1
Beyond their financial role, CSAs are associated
with beneficial effects on parents and children
across a range of domains, including educational
aspirations, socioemotional development, college
access, academic success, and equity. Numerous
states, cities, localities, and organizations across
the United States have begun sponsoring CSAs
in recent years. However, no consensus has been
reached on the optimal structure for CSA programs