Kids, Money and College Factoid

May, 2011
Kids with savings accounts in their name six times more likely to attend college

“In a study forthcoming in the Journal of Children and Poverty, CSD researchers found that among youth who expected to graduate from a four-year college, those with a savings account in their name were approximately six times more likely to attend college than those with no account.”

“Another study forthcoming in Children & Youth Services Review, finds that also controlling for family income and other factors, both financial assets — such as savings accounts, IRAs, or CDs — and non-financial assets — such as equity in a home, vehicle or business — are positively related to children’s college completion. In other words, it is assets, and not income, that is associated with college success.”

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