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Initial elementary education findings from Promise Indiana's Children's savings account program

Author

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  • Elliott, William
  • Kite, Benjamin
  • O'Brien, Megan
  • Lewis, Melinda
  • Palmer, Ashley

Abstract

The study conducts an initial examination of the associations between participation and saving in the Promise Indiana Children's Savings Account (CSA) program and school administrative data on attendance and standardized math and reading scores. The primary research questions guiding this analysis are whether or not having a CSA is associated with lower absenteeism and/or higher reading and math scores and, for those who have a CSA, whether being a saver or the amount saved in the account is associated with better academic outcomes. Given the importance of family income to savings behaviors and academic achievement, analyses were conducted for the full sample as well as for the subsample of low-income students, defined by free/reduced lunch status. Among the low-income subsample, having a CSA is positively associated with both reading and math scores; this association is not found in the aggregate sample. The amount contributed to the CSA has a positive association with math and reading scores in the overall sample, but not with the scores of children receiving free/reduced lunch. Being a saver is associated with reading scores for both the overall and free/reduced lunch samples. Student attendance was not associated with any account variables. While more research is needed before policy conclusions can be drawn, these findings suggest that CSA programs may complement schools' academic objectives. Further, this study adds to the literature on children's assets by finding some differences in academic outcomes associated with different engagement with the CSA (e.g. account ownership and saving).

Suggested Citation

  • Elliott, William & Kite, Benjamin & O'Brien, Megan & Lewis, Melinda & Palmer, Ashley, 2018. "Initial elementary education findings from Promise Indiana's Children's savings account program," Children and Youth Services Review, Elsevier, vol. 85(C), pages 295-306.
    • Handle: RePEc:eee:cysrev:v:85:y:2018:i:c:p:295-306
    DOI: 10.1016/j.childyouth.2018.01.004
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    References listed on IDEAS

    as
    1. Joshua Goodman, 2014. "Flaking Out: Student Absences and Snow Days as Disruptions of Instructional Time," NBER Working Papers 20221, National Bureau of Economic Research, Inc.
    2. William Elliott & Hyunzee Jung & Terri Friedline, 2010. "Math Achievement and Children’s Savings: Implications for Child Development Accounts," Journal of Family and Economic Issues, Springer, vol. 31(2), pages 171-184, June.
    3. Elliott III, William, 2009. "Children's college aspirations and expectations: The potential role of children's development accounts (CDAs)," Children and Youth Services Review, Elsevier, vol. 31(2), pages 274-283, February.
    4. Oyserman, Daphna, 2013. "Not just any path: Implications of identity-based motivation for disparities in school outcomes," Economics of Education Review, Elsevier, vol. 33(C), pages 179-190.
    5. Greg J. Duncan & Aaron J. Sojourner, 2013. "Can Intensive Early Childhood Intervention Programs Eliminate Income-Based Cognitive and Achievement Gaps?," Journal of Human Resources, University of Wisconsin Press, vol. 48(4), pages 945-968.
    6. repec:mpr:mprres:7032 is not listed on IDEAS
    7. William Elliott III & Hyunzee Jung & Terri Friedline, 2011. "Raising Math Scores Among Children in Low-Wealth Households: Potential Benefit of Children's School Savings," Journal of Income Distribution, Ad libros publications inc., vol. 20(2), pages 72-91, June.
    Full references (including those not matched with items on IDEAS)

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