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ERIC Number: EJ861165
Record Type: Journal
Publication Date: 2009
Pages: 6
Abstractor: ERIC
Reference Count: 3
ISSN: ISSN-0024-1822
Increasing Access for Low-Income Students and Making Financial Education a Priority for Higher Education
Kezar, Adrianna
Liberal Education, v95 n3 p38-43 Sum 2009
While widespread financial illiteracy and reduced opportunities for low-income students to participate in higher education may seem unrelated, both challenges can be addressed through Individual Development Accounts (IDAs), an existing but widely underutilized tool. IDAs have the potential both to increase access and retention of low-income students and to fulfill higher education's commitment to offer financial education. This article describes IDA, a financial tool designed to encourage low-income families to save toward and acquire an appreciating asset. IDAs offer not only matched funds, but also the opportunity to foster critical new life skills and behaviors with respect to financial management, credit, and debt. The author discusses how IDAs work for students, and presents a three-year study of education IDAs that aims to examine the potential for increasing IDA use for educational purposes, to explore higher education's involvement with IDAs, and to examine the potential for greater participation. The research suggests that postsecondary institutions can engage in a set of practices that would make them better partners with the community agencies that currently offer IDAs. (Contains 1 note.)
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Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A