CAP's Experience with Child Savings Accounts
In 2005 CAP was selected to work with the Corporation for Enterprise Development (CFED) as a state policy partner in the Savings for Education, Enterprise and Downpayment (SEED) Initiative. SEED is a six-year national policy, practice and research endeavor to develop, test, inform and promote matched savings accounts and financial education for children and youth. The primary purpose of SEED is to set the stage for a large-scale, universal, progressive policy for asset-building among American children, youth and families.
In connection with this project, the objectives of our state policy work include:
- Engaging in sustained, inclusive and strategic policy development efforts to design innovative state policies that provide universal, progressive children's savings accounts.
- Building/expanding state coalitions in support of children's savings accounts.
- Enacting significant policies to support universal, progressive children's savings policy at the state level.
CAP will continue to receive CFED support for this project until June 30, 2010.