Early savings for children's higher education: A comparison between savers and non-savers in a Child Development Account program

David Okech, Todd D. Little, Trina Williams-Shanks

Research output: Contribution to journalArticlepeer-review

Abstract

This study examined economic pressure, parenting stress, and personal mastery factors among N = 235 lower income parents who had the opportunity to save for their children's future higher education in a children's development account program. Bivariate analyses and structural equation modeling (SEM) were used to test the differences between early savers and non-savers. There were some sociodemographic differences between the groups; however, the overall SEM was invariant between the groups. Data suggest that specific case management services may be critical to help lower-income parents save for their children. Further research needs to identify institutional aspects and household characteristics that explain saving among this poorer households.

Original languageEnglish
Pages (from-to)1592-1598
Number of pages7
JournalChildren and Youth Services Review
Volume33
Issue number9
DOIs
StatePublished - Sep 2011

Keywords

  • Accounts
  • Children
  • Development
  • Savings
  • Services

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