Professors William Elliott III and Trina Shanks were quoted in a New York Times article about children’s savings accounts (CSA) in light of the new legislation that creates “Trump accounts” and the recently announced philanthropic donation of Susan and Michael Dell.
Elliott explains that even a small amount of money seeded in CSAs can create hope and give students a “college-bound identity.”
This change in perspective can affect the whole family and change the conversation about finances and the future. Parents, says Shanks, are “talking to their child about college — ‘What are you going to use this money for? What are you going to do to prepare in high school and middle school?’” It changes the narrative to one of possibility and opportunity.
