Association between Children’s Saving Account and Parent Rated Children’s Health: A Preliminary Study

Abstract

Children’s Savings Accounts (CSAs) are interventions designed to build educational assets for school-age children. The positive effects of having a CSA has been established for mental health and developmental outcomes, yet no studies to date have examined how CSAs affect children’s physical health. This study uses data from Harold Alfond College Challenge, the oldest and one of the most well-known CSA programs in the United States, to evaluate the association between a CSA and children’s physical health status measured by parent-rated children’s health. Results indicate CSA ownership is associated with a greater chance of reporting excellent or very good health than those families who did not receive a CSA. Implications on research and CSA programs are discussed.