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Improving College Progress among Low- to Moderate-Income (LMI) Young Adults: The Role of Assets

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  • William Elliott

    ()

  • Monique Constance-Huggins

    ()

  • Hyun-a Song

    ()

Abstract

Little is known about the impact of assets on low- to -moderate-income (LMI) young adults’ college progress. In this study college progress refers to young adults who were currently enrolled in, or who have a degree from, a 2-year college or a 4-year college. Findings from this study suggest LMI young adults with school savings were more than three times as likely to be on course than LMI young adults without any savings or who had savings but had not designated any of it for school. In regard to net worth, we found no evidence to suggest that higher amounts of negative net worth were statistically significant; however, high positive net worth was associated with LMI young adults college progress. Findings suggest policy instruments designed to assist adolescents to save such as universal Child Development Accounts may be a simple and effective strategy for helping to keep LMI young adults on course. Copyright Springer Science+Business Media New York 2013

Suggested Citation

  • William Elliott & Monique Constance-Huggins & Hyun-a Song, 2013. "Improving College Progress among Low- to Moderate-Income (LMI) Young Adults: The Role of Assets," Journal of Family and Economic Issues, Springer, vol. 34(4), pages 382-399, December.
  • Handle: RePEc:kap:jfamec:v:34:y:2013:i:4:p:382-399
    DOI: 10.1007/s10834-012-9341-0
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    File URL: http://hdl.handle.net/10.1007/s10834-012-9341-0
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    References listed on IDEAS

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    13. repec:ags:stataj:119254 is not listed on IDEAS
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    Cited by:

    1. David Yaskewich, 2015. "Dependent Health Insurance Laws and College Enrollment: Is There Evidence of College Lock?," Journal of Family and Economic Issues, Springer, vol. 36(4), pages 557-569, December.
    2. Bryce L. Jorgensen & Damon L. Rappleyea & John T. Schweichler & Xiangming Fang & Mary E. Moran, 2017. "The Financial Behavior of Emerging Adults: A Family Financial Socialization Approach," Journal of Family and Economic Issues, Springer, vol. 38(1), pages 57-69, March.
    3. Terri Friedline & Ilsung Nam & Vernon Loke, 2014. "Households’ Net Worth Accumulation Patterns and Young Adults’ Financial Health: Ripple Effects of the Great Recession?," Journal of Family and Economic Issues, Springer, vol. 35(3), pages 390-410, September.

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