Effects of Education Savings Accounts on Student Engagement: Instrumental Variable Analysis

As interest in youth financial inclusion continues to grow substantially, emerging research points to positive associations between students’savings and their educational outcomes. However, there is no definitive data on how assets alter student engagement, particularly in resource-limited settings. This study contributes knowledge by assessing the causal effects of education savings accounts on student engagement. We evaluate causal effects by using instrumental variable methods and data from a pilot study that assessed the viability of different education funding mechanisms for junior high-school students in Ghana. Results show that the offering of an education savings account to young people with an opt-out option has great promise for improving education account ownership. Results also show that simply having an account is not strongly predictive of school engagement. Instead, it is when people begin to save into the account that it positively shapes their school engagement. The finding speaks to the value of policies that support young people to cultivate a savings habit and to build their financial knowledge and skills. Efforts should be made to understand better how social workers and teachers could be adequately trained to provide financial counseling and financial education assistance to students within the community or school settings

Policy Recommendations for Meeting the Grand Challenge to Build Financial Capability and Assets for All

This brief was created forSocial Innovation for America’s Renewal, a policy conference organized by the Center for Social Development in collaboration with the American Academy of Social Work & Social Welfare, which is leading theGrand Challenges for Social Work initiative to champion social progress. The conference site includes links to speeches, presentations, and a full list of the policy briefs

Cavour /

Translation of Un grand realiste, Cavour.Mode of access: Internet.

Financial Capability and Asset Building in the Curricula: Student Perceptions

Although social work education competencies include economic justice, and practice includes addressing client finances and assets, social work curricula lack an emphasis on these topics. Little is known about students’ perceptions of the relevancy of this information or how well their program is preparing them for contemporary practice. This study explores the perceptions of 643 BSW and MSW students and finds a general consensus that social workers have an important role in addressing client economic issues. However, respondents perceive limited use of client financial information in practice and limited coverage of the topic in curriculum areas. Results indicate respondents’ perceptions may significantly differ based on their preferred fields of practice, level, and student program status. Curricula implications are discusse