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Information Systems Make Children's Savings Programs Work. Here are Three Things You Should Know About Them.
As we note in Investing in Dreams, Prosperity Now’s soup-to-nuts guide to designing effective Children’s Savings Account (CSA) programs, proper management information systems are critical for making CSA programs work.
The cost of education and student debt is on the rise in America, a story told frequently in local and national news. So how does a low-to-moderate income family begin to save money for their child to get a post-secondary education? The key actions are to start saving early and make smart financial decisions.
Prosperity Now’s recent report, The Movement Takes Off: The State of the Children’s Savings Field 2017, highlights that 69% of Children’s Savings Account (CSA) programs’ financial support comes from the philanthropic community. Interestingly, the second highest source of operational and programmatic support comes from individual donors (46%).
Prosperity Now’s Children’s Savings team is excited to announce a new Children’s Savings Accounts (CSA) webinar program for 2018: the Children’s Savings Accounts Learning Series. These webinars are designed to share knowledge and best practices to help organizations develop stronger, more sustainable CSA programs. The series will feature guest speakers sharing concrete examples of CSA programs meeting specific geographic, cultural or place-based needs.
This morning, Prosperity Now published The Movement Takes Off: The State of the Children’s Savings Field 2017, an overview of findings from the Children’s Savings Account (CSA) program survey. Conducted annually, the survey assesses a plethora of aspects of the design and operation of the CSA program respondents, including number of accounts, account incentives, wrap-around services for students and parents, and other critical program features. This field, now well into its second decade, is seeing some important new trends and developments.