126 research outputs found
College Savings Plan Accounts at Birth: Maine\u27s Statewide Program
The Harold Alfond College Challenge offers $500 to every child in the state enrolled in Maine’s NextGen college savings plan within 1 year from birth. As the first U.S. example of a statewide Child Development Account, the Alfond Challenge is a laboratory to study and learn from Maine’s experience. This CSD policy brief provides an overview of the Alfond Challenge, examines administrative and enrollment challenges, and offers recommendations and federal and state policy directions
Low-Cost State Innovations to Help Families Save for College
While 529 plans are defined in the federal tax code, individual states have considerable latitude to innovate and make their plans more inclusive. Some states have undertaken large-scale initiatives, such as matching contributions or establishing accounts at birth. Other states have been exploring a number of smaller, lower- cost innovations to remove disincentives and increase savings. States are often the testing ground for future federal policies, and several of these initiatives could also be enacted at the federal level
SEED Universal Policy Model and Research Request for Proposal
SEED Universal Policy Model and Research Request for Proposa
Five Low-Cost Ideas to Help Families Save for College
Improvements to the 529 platform could increase the number of low- and moderate-income families saving in 529s and make it easier for these families to build assets for education. These reforms include large initiatives, such as coordinating existing higher education tax credits and financial aid with 529s, as well as small initiatives to increase savings. This document contains several low-cost, simple reforms for 529s at the federal level. These would be important first steps for enabling more low- and moderate-income students to complete higher education
SEED for Oklahoma Kids: Demonstrating Child Development Accounts for All Newborns
SEED for Oklahoma Kids: Demonstrating Child Development Accounts for All Newborn
SEED for Oklahoma Kids: Summary of Project, Research, and Policy Implications
SEED for Oklahoma Kids: Summary of Project, Research, and Policy Implication
The Universal Model in SEED
The Universal Model in SEE
Automatic Deposits for All at Birth: Maine\u27s Harold Alfond College Challenge
The first statewide Child Development Account (CDA) in the United States announced a major change in strategy to automatically enroll all newborns. Evidence from CDA research has contributed to the decision by the College Challenge to remove its original opt-in requirement—in which parents must enroll their newborns in the state’s 529 college savings plan to receive a 500 grant
College Savings Plans: Investment Options, Safety, and Policy Implications
With recent stock market decline, balances in many college savings (529) plans have also declined. Investment options such as money market funds or FDIC-insured CDs are gaining attention, and questions are being raised about the safety of 529 savings plan investments. This brief provides information on 529 savings plan investment options and safety as well as policy implications
Asset Limits for Means-Tested Public Assistance: Considerations for Child Development Account Proponents
If low-income families believe that having savings will jeopardize their public assistance benefits, they are unlikely to participate in Child Development Account (CDA) programs. This policy brief (1) documents the impact of CDA savings on five public assistance programs (Medicaid, CHIP, SNAP, LIHEAP, and TANF) and (2) identifies opportunities for policy change at the state level. CDA savings held in agency-owned accounts do not affect public assistance because students and families do not own the savings. Personal deposits held in individually-owned CDAs may affect assistance, but our review shows that they often do not, especially when held in 529 college savings plans. Yet, most states have at least one asset limit, and the perception that assets reduce assistance probably still exists. Thus, an important goal remains to abolish asset limits in means-tested assistance programs
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