Preparing Children for Success: Parents' Perspectives on Promoting Savings and Education. (July 2014)

• Record Type: Journal Article
• Authors: Murphy-Erby, Yvette; Hamilton, Leah; Shobe, Marcia; Christy, Kameri; Hampton-Stover, Elena; Jordan, Shikkiah
• Is Part Of: Journal of family issues. Volume 35:Number 9(2014:Sep.)
• Page Start: 1177
• Page End: 1199
• Publication Date: 2014-07
• Subjects: Asset development -- postsecondary education -- savings -- development accounts; Families -- United States -- Periodicals; Family -- Periodicals; 306.8505
• DOI: 10.1177/0192513X13490398
• Languages: English
• ISSNs: 0192-513X

Abstract

Many states are implementing asset development strategies to promote postsecondary education for low- to moderate-income families, realizing that limited education is a powerful predictor of poverty, and poverty mediates the likelihood of obtaining postsecondary education. Using demographic and qualitative data collected from two groups of low- to moderate-income parents ( N = 24), this article highlights two programs that promote savings and increase post-secondary education for these children and families. The 21st Century Scholars Program targets youths, and the complementary Educational Development Accounts program targets their parents. This article also explores perspectives of the participants' experiences, beliefs, and perceptions relative to savings and education and the success of their children in these areas. It concludes with implications for asset-building programs and policy whose aim is to assist low- to moderate-income families in achieving economic and educational mobility and implications for social welfare policy.