Journal of Family and Economic Issues

, Volume 34, Issue 4, pp 382–399 | Cite as

Improving College Progress among Low- to Moderate-Income (LMI) Young Adults: The Role of Assets

  • William Elliott
  • Monique Constance-Huggins
  • Hyun-a Song
Original Paper

Abstract

Little is known about the impact of assets on low- to -moderate-income (LMI) young adults’ college progress. In this study college progress refers to young adults who were currently enrolled in, or who have a degree from, a 2-year college or a 4-year college. Findings from this study suggest LMI young adults with school savings were more than three times as likely to be on course than LMI young adults without any savings or who had savings but had not designated any of it for school. In regard to net worth, we found no evidence to suggest that higher amounts of negative net worth were statistically significant; however, high positive net worth was associated with LMI young adults college progress. Findings suggest policy instruments designed to assist adolescents to save such as universal Child Development Accounts may be a simple and effective strategy for helping to keep LMI young adults on course.

Keywords

Wealth Assets College attendance College graduation Savings Child Development Accounts (CDAs) College expectations PSID College progress 

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Copyright information

© Springer Science+Business Media New York 2012

Authors and Affiliations

  • William Elliott
    • 1
  • Monique Constance-Huggins
    • 2
  • Hyun-a Song
    • 2
  1. 1.School of Social Welfare, University of KansasLawrenceUSA
  2. 2.School of Social Work, University of PittsburghPittsburghUSA

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