Children Savings Accounts are an example of the role that government can play in fostering saving.
Children Savings Accounts (CSA) are an example of government taking action to encourage savings. In the last decade, they have emerged as a promising tool that both fosters a college-going culture and a savings vehicle through which college funds can accumulate. Research shows that low- and moderate-income children that have as little as $500 saved for college are three times more likely to enroll in college and four times more likely to graduate than children without any college savings.
Commonwealth is engaged with increasing the success of CSA programs by doing research and consulting with initiatives to increase participation rates and on-going engagement. For example, Commonwealth worked with the City of Boston by doing consumer research to understand the needs and wants of families with children in the Boston school system, designed marketing and enrollment materials and made recommendations on the features of the CSA product on offer based on this research.