This chapter empirically examines the impact of social safety net participation on family investment in children. Using nationally representative data from the China Education Panel Survey (CEPS) and applying propensity score matching methods, it evaluates how Dibao and education subsidy programs—individually and in combination—affect educational expenditures and children’s time allocation. The results suggest that welfare participation reduces the financial burden of schooling but does not significantly increase supplementary investments such as tutoring or extracurricular activities. Moreover, the positive effects are unevenly distributed between children with urban and rural hukou, underscoring persistent inequalities within the system. The chapter situates these findings within debates on program synergy, showing that welfare tools may reduce hardship but are limited in fostering upward mobility. It concludes that while welfare policies provide short-term relief, their capacity to promote intergenerational human capital development remains constrained without structural reforms to address hukou-based inequalities.