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Assets and educational achievement: Theory and evidence

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  • Elliott, William
  • Sherraden, Michael

Abstract

This special issue of Economics of Education Review explores the role of savings and asset holding in post-secondary educational achievement. Most college success research has focused on income rather than assets as a predictor, and most college financing policy has focused on tuition support and educational debt, rather than asset accumulation. Nevertheless, there is compelling evidence that household asset holdings, especially savings for education, may have a pronounced positive influence, independent from income, in post-secondary educational success. Moreover, the fundamental reality is that savings plays a role, even though sometimes small, in college financing for most households. For these empirical and practical reasons, it may be important to pay greater attention to savings and asset holding for education in the future than we have in the past. The articles in this volume contribute empirical evidence, theoretical understanding, and potential policy directions regarding saving, asset holding, and educational achievement.

Suggested Citation

  • Elliott, William & Sherraden, Michael, 2013. "Assets and educational achievement: Theory and evidence," Economics of Education Review, Elsevier, vol. 33(C), pages 1-7.
  • Handle: RePEc:eee:ecoedu:v:33:y:2013:i:c:p:1-7
    DOI: 10.1016/j.econedurev.2013.01.004
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    References listed on IDEAS

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    1. Kim, Youngmi & Sherraden, Michael & Clancy, Margaret, 2013. "Do mothers’ educational expectations differ by race and ethnicity, or socioeconomic status?," Economics of Education Review, Elsevier, vol. 33(C), pages 82-94.
    2. Loke, Vernon, 2013. "Parental asset accumulation trajectories and children's college outcomes," Economics of Education Review, Elsevier, vol. 33(C), pages 124-133.
    3. Webley, Paul & Nyhus, Ellen K., 2013. "Economic socialization, saving and assets in European young adults," Economics of Education Review, Elsevier, vol. 33(C), pages 19-30.
    4. Grinstein-Weiss, Michal & Sherraden, Michael & Gale, William G. & Rohe, William M. & Schreiner, Mark & Key, Clinton, 2013. "Long-term effects of Individual Development Accounts on postsecondary education: Follow-up evidence from a randomized experiment," Economics of Education Review, Elsevier, vol. 33(C), pages 58-68.
    5. Hertz Tom & Jayasundera Tamara & Piraino Patrizio & Selcuk Sibel & Smith Nicole & Verashchagina Alina, 2008. "The Inheritance of Educational Inequality: International Comparisons and Fifty-Year Trends," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 7(2), pages 1-48, January.
    6. Sherraden, Margaret & Peters, Clark & Wagner, Kristen & Guo, Baorong & Clancy, Margaret, 2013. "Contributions of qualitative research to understanding savings for children and youth," Economics of Education Review, Elsevier, vol. 32(C), pages 66-77.
    7. Elliott, William & Destin, Mesmin & Friedline, Terri, 2011. "Taking stock of ten years of research on the relationship between assets and children's educational outcomes: Implications for theory, policy and intervention," Children and Youth Services Review, Elsevier, vol. 33(11), pages 2312-2328.
    8. Oyserman, Daphna, 2013. "Not just any path: Implications of identity-based motivation for disparities in school outcomes," Economics of Education Review, Elsevier, vol. 33(C), pages 179-190.
    9. John R. Reynolds & Jennifer Pemberton, 2001. "Rising College Expectations among Youth in the United States: A Comparison of the 1979 and 1997 NLSY," Journal of Human Resources, University of Wisconsin Press, vol. 36(4), pages 703-726.
    10. Friedline, Terri & Elliott, William & Chowa, Gina A.N., 2013. "Testing an asset-building approach for young people: Early access to savings predicts later savings," Economics of Education Review, Elsevier, vol. 33(C), pages 31-51.
    11. Chowa, Gina A.N. & Masa, Rainier D. & Wretman, Christopher J. & Ansong, David, 2013. "The impact of household possessions on youth's academic achievement in the Ghana Youthsave experiment: A propensity score analysis," Economics of Education Review, Elsevier, vol. 33(C), pages 69-81.
    12. Huang, Jin, 2013. "Intergenerational transmission of educational attainment: The role of household assets," Economics of Education Review, Elsevier, vol. 33(C), pages 112-123.
    13. Williams Shanks, Trina R. & Robinson, Christine, 2013. "Assets, economic opportunity and toxic stress: A framework for understanding child and educational outcomes," Economics of Education Review, Elsevier, vol. 33(C), pages 154-170.
    14. Beverly, Sondra G., 2013. "Asset building for and by young people," Economics of Education Review, Elsevier, vol. 33(C), pages 52-57.
    15. Otto, Annette, 2013. "Saving in childhood and adolescence: Insights from developmental psychology," Economics of Education Review, Elsevier, vol. 33(C), pages 8-18.
    16. Destin, Mesmin, 2013. "Integrating resource-based and person-based approaches to understanding wealth effects on school achievement," Economics of Education Review, Elsevier, vol. 33(C), pages 171-178.
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    2. repec:eee:cysrev:v:96:y:2019:i:c:p:409-419 is not listed on IDEAS
    3. Kafle, Kashi & Jolliffe, Dean & Winter-Nelson, Alex, 2018. "Do different types of assets have differential effects on child education? Evidence from Tanzania," World Development, Elsevier, vol. 109(C), pages 14-28.
    4. Azzolini, Davide & Martini, Alberto & Rettore, Enrico & Romano, Barbara & Schizzerotto, Antonio & Vergolini, Loris, 2018. "Testing a Social Innovation in Financial Aid for Low-Income Students: Experimental Evidence from Italy," IZA Discussion Papers 11625, Institute of Labor Economics (IZA).
    5. repec:eee:cysrev:v:87:y:2018:i:c:p:60-68 is not listed on IDEAS
    6. repec:spr:soinre:v:134:y:2017:i:1:d:10.1007_s11205-016-1421-3 is not listed on IDEAS
    7. Kafle, Kashi R. & Dean, Jolliffe, 2015. "Effects of asset ownership on child health indicators and educational performance in Tanzania," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205687, Agricultural and Applied Economics Association.
    8. Beverly, Sondra G. & Kim, Youngmi & Sherraden, Michael & Nam, Yunju & Clancy, Margaret, 2015. "Can Child Development Accounts be inclusive? Early evidence from a statewide experiment," Children and Youth Services Review, Elsevier, vol. 53(C), pages 92-104.
    9. repec:spr:chinre:v:11:y:2018:i:6:d:10.1007_s12187-017-9525-0 is not listed on IDEAS
    10. repec:eee:cysrev:v:100:y:2019:i:c:p:136-146 is not listed on IDEAS
    11. Kafle, Kashi & Jolliffe, Dean & Winter-Nelson, Alex, 2016. "Effects of household asset holdings on child educational performance: Evidence from Tanzania," 2016 Fifth International Conference, September 23-26, 2016, Addis Ababa, Ethiopia 249273, African Association of Agricultural Economists (AAAE).
    12. Ansong, David & Wu, Shiyou & Chowa, Gina A.N., 2015. "The role of child and parent savings in promoting expectations for university education among middle school students in Ghana: A propensity score analysis," Children and Youth Services Review, Elsevier, vol. 58(C), pages 265-273.
    13. Rauscher, Emily & Elliott, William & O'Brien, Megan & Callahan, Jason & Steensma, Joe, 2017. "Examining the relationship between parental educational expectations and a community-based children's savings account program," Children and Youth Services Review, Elsevier, vol. 74(C), pages 96-107.
    14. Ray Boshara & William R. Emmons, 2015. "A Balance Sheet Perspective on Financial Success: Why Starting Early Matters," Journal of Consumer Affairs, Wiley Blackwell, vol. 49(1), pages 267-298, March.

    More about this item

    Keywords

    Assets; College enrollment; College graduation; College debt; Saving;

    JEL classification:

    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education

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