Social IMPACT Research Center Publications

The Social IMPACT Research Center has an extensive portfolio of needs assessment and evaluation research on issues facing poor and low-income populations. Our user-friendly work equips nonprofits, foundations, and governments to advance real-world solutions to poverty.
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Building Brighter Futures: Children's Savings Accounts in Illinois

August 22, 2017

In 2009, the Illinois General Assembly created a bipartisan task force to explore a CSA program in the state. The task force recommended that a savings account should be opened automatically at birth for every child born in Illinois, using the Bright Start Direct College Savings Program as the savings vehicle.This report examines what it will take to make these recommendations a reality. To better understand the Bright Start program and how to make it an effective savings tool for all families, we look at how Illinoisans are currently using Bright Start, and explore the challenges low-income families and families of color face in using Bright Start to save for college. We also examine how a CSA program could impact the racial wealth gap in Illinois. Finally, we make policy recommendations for the design and implementation of a CSA program to help Illinois families save for higher education.

Asset Building & Financial Security; Education; Poverty

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