Scholarlink

Purpose <p>This paper reports financial outcomes from a social policy experiment that has tested universal, at-birth Child Development Accounts (CDAs) in Oklahoma. The experiment follows a representative cohort of Oklahoma children drawn from infants born in the state in 2007. The study randomly selected 7,328 children, and the mothers of 2,704 of those children agreed to participate. They were then randomly assigned into the treatment (n = 1,358) or control group (n = 1,346). The focal aspects of the CDA policy treatment were the opening of state-owned accounts in the Oklahoma 529 College Savings Plan (OK 529) and the initial deposit of $1,000. Compared with control children, treatment children were 22 times more likely to have any OK 529 assets, and their average balance across all OK 529 accounts was about $2,300 larger after 12&#xa0;years of the experiment. The intervention led to a more than fivefold increase in the number of OK 529 accounts opened by parents for the child beneficiary. The CDA impacts were generally larger for more disadvantaged children. If a state or country implemented a similar policy, the average amount of 529 savings for postsecondary education for a 12-year-old would more than triple.</p>

错误：搜索内容不能为空，请输入英文关键词
错误：关键词超出字数限制，请精简
高级检索

Asset Building for Education: Financial Outcomes in a Child Development Account Policy Experiment

  • 期刊论文

  • 发表日期：

    2025年7月22日

查看全文
  • Jin Huang,
  • Sondra Beverly,
  • Mark Schreiner,
  • Margaret Clancy,
  • Michael Sherraden

摘要

Purpose

This paper reports financial outcomes from a social policy experiment that has tested universal, at-birth Child Development Accounts (CDAs) in Oklahoma. The experiment follows a representative cohort of Oklahoma children drawn from infants born in the state in 2007. The study randomly selected 7,328 children, and the mothers of 2,704 of those children agreed to participate. They were then randomly assigned into the treatment (n = 1,358) or control group (n = 1,346). The focal aspects of the CDA policy treatment were the opening of state-owned accounts in the Oklahoma 529 College Savings Plan (OK 529) and the initial deposit of $1,000. Compared with control children, treatment children were 22 times more likely to have any OK 529 assets, and their average balance across all OK 529 accounts was about $2,300 larger after 12 years of the experiment. The intervention led to a more than fivefold increase in the number of OK 529 accounts opened by parents for the child beneficiary. The CDA impacts were generally larger for more disadvantaged children. If a state or country implemented a similar policy, the average amount of 529 savings for postsecondary education for a 12-year-old would more than triple.