State-Sponsored Child Investment Accounts: "Helping Parents Save for College, Helping Students Avoid Loan Debt." Policy Brief

Autor/inn/en	Clayton, Katy; Backstrom, Brian
Institution	Nelson A. Rockefeller Institute of Government
Titel	State-Sponsored Child Investment Accounts: "Helping Parents Save for College, Helping Students Avoid Loan Debt." Policy Brief
Quelle	(2021), (28 Seiten) PDF als Volltext kostenfreie Datei Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Monographie
Schlagwörter	Tuition; Paying for College; Costs; State Universities; Debt (Financial); Student Financial Aid; Educational Policy; College Attendance; Political Candidates; Incentives; State Programs; State Legislation; Program Evaluation; Best Practices; Money Management; New York + Suchen Sie Ihr Suchwort? Unterweisung; Unterricht; Studienfinanzierung; Cost; Kosten; Staatliche Universität; Finanzielle Beihilfe; Studienförderung; Politics of education; Bildungspolitik; College; Colleges; Attendance; Hochschule; Fachhochschule; Anwesenheit; Anreiz; Regierungsprogramm; Landesrecht; Programme evaluation; Programmevaluation
Abstract	College tuition at public institutions across the country rose by 36.2 percent on average over the decade 2008-09 to 2018-19. The average total cost of college, accounting for all expenses such as room and board, across all institutions public and private grew by 22.4 percent. Students and their families are borrowing an enormous amount of money to pay for these costs: total student loan debt increased by 149.4 percent, from $577 billion to more than $1.4 trillion, over this same time period. Many proposals to forgive existing student loan debt have been proposed and such policies were prominent components of campaign platforms among Democratic candidates for the 2020 presidential nomination. However, one of the surest ways to alleviate the burdens of student loan debt, is to avoid borrowing in the first place. Sponsored Child Investment Accounts (SCIAs), a relatively recent state innovation spreading rapidly across the country with bipartisan support, incentivizes parents to save for college costs with dual goals of stimulating college going and preventing students from incurring untenable levels of loan debt. These state initiatives focus on distinct populations, are supported by assorted funding sources, were created by different legislative approaches, and follow various administrative practices. Examining the programs and their particular strengths offers New York State the opportunity to build on best practices to construct its own successful SCIA initiative. (ERIC).
Anmerkungen	Nelson A. Rockefeller Institute of Government. 411 State Street, Albany, NY 12203-1003. Tel: 518-445-4150; Web site: https://rockinst.org/
Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2024/1/01