Children's Savings

CSA Movement in Texas

Children's Savings Accounts for College (CSAs) are long-term savings or investment accounts that help children ages 0-18 and their families save for post-secondary education.

RAISE Texas is currently providing technical assistance on Children's Savings Accounts in North Texas.  Contact us if you are interested in starting a CSA in your area!

Here are a few highlights of our work on CSAs:

    Based on lessons learned from previous pilots and rigorous research into financial vehicles and CSA models, a new Dollars for College Program launched in two school districts in the Dallas area in 2019.  Using the my529 account platform and different incentives, the program is successfully helping families open college savings accounts.
    During the 2015-16 school year, a Dollars for College pilot partnered a savings account for college with the state's financial education curriculum to refine and identify best practices. The pilot offered college savings accounts to kindergartners in Richardson ISD and fourth graders in Pflugerville ISD.
    During the 2012-13 school year, with support from the U.S. Treasury Department and Every Texan (formerly CPPP), RAISE Texas conducted a rigorous pilot in Amarillo elementary schools to test the impact of connecting a savings program to the state's financial education standards.  The pilot found that school savings programs improved student attitudes about savings and financial institutions.
    This initiative aimed to encourage long-term economic success for families in the child support system. Custodial parents who received child support through the Office of Attorney General Child Support Division were encouraged to open a college savings account and given access to financial coaches.  Launched in 2012, this project was the first of its kind in the country.  Click here for more details.