Study: Savings Accounts for Kids Benefit Social and Emotional Development

A new study published by JAMA Pediatrics suggests that kids who grow up with college savings accounts reap developmental advantages.

In a study of 2,704 infant participants, half were provided with state-issued Child Development Accounts (CDAs), additional financial incentives, and information while the other half did not.

Four years later, the mothers of the study participants completed a questionnaire that measured their children’s social and emotional behavior. Interestingly, the savings account group scored better than the non-savings account group on benchmarks of social and emotional development, particularly among disadvantaged families.

But why? [Read more…]