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Budget 2023: Singapore Baby Bonus cash gift to go up by S$3,000, paid paternity leave doubled to help couples start or grow families

Child Development Accounts can spark college savings

Parents of newborns with Child Development Accounts deepen their commitment to the child’s higher education and their own efforts to save for that education, research finds. The findings come from two newly released publications: a research summary of account and savings data from 2008-2019 and a report on analyses of 2020 survey responses. Both publications come from a long-running, randomized social experiment called SEED for Oklahoma Kids (SEED OK). “This new research reinforces the long-term benefits of effective policies to build assets for children automatically from the time of birth,” says Michael Sherraden, professor at Washington University in St. Louis, the founding director of the Center for Social Development at Washington University’s Brown School, and the experiment’s principal investigator.

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