Society for Social Work and Research

Asset building programs, such as individual development accounts (IDAs), are first and foremost, intended to help people increase their financial security through building long-term assets. Just as importantly, however, they have been touted for their potential to give people more control over their lives by supplying them with a source of empowerment and by fostering a more future-oriented attitude. In some programs, the assets accumulated are specifically directed towards enhancing human capital through investment in education. The monetary assets they build in the program are, ideally, translated into credentials and skills that will bring higher earnings and greater financial stability in the future. This panel presents evidence from three randomized control trials (RCTs) testing the impact of matched savings programs on human capital outcomes. The first paper provides new findings from the American Dream Demonstration on the long-term impact of IDAs on entry into education and degree attainment over a ten-year study period. The second paper presents final results from the learn$ave demonstration in Canada, testing whether matched saving credits and supportive services such as financial training and case management encourage education enrollment among adults. The third paper highlights savings for children in 529 (college savings) accounts through the SEED OK experiment, exploring whether early SEED OK savings amounts vary by socioeconomic status. This panel contributes to our understanding of how assets can shape the opportunity structure of participants, particularly the impact asset building programs can have on educational outcomes. These findings suggest potential intersections between policies focused on building assets and policies focused on expanding the educational attainment and human capital of lower-income people.