Wednesday, June 29, 2011

Savings Account and College Retention


According to the Center for Social Development at Washington University in St. Louis, students with savings accounts in their name — regardless of the amount saved — are six times more likely to attend and remain in college compared to their peers without savings.

I recently created a series of scenarios for foster care youth (independent living activities) in which unexpected events catapoulted them into "crisis mode" -- and, in each scenario, if they had budgeted ahead of time in order to maintain a savings account, this would have saved them money and stress in the long run.

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