Parental Savings in a Children's Account Program for College Education

Abstract

This article presents sociodemographic characteristics and outreach activities that were associated with parents making early personal deposits in a children's college savings account program designed for lower income families. A sample of 235 parents who joined the savings program was examined, comparing those who had made early deposits into the accounts and those who had not. Parents' level of education and their having attended a program orientation were strongly associated with making deposits in the accounts. Implications for practice, programs, and policies to help lower income families save for their children's college education are discussed.