ERIC Number: EJ1288788
Record Type: Journal
Publication Date: 2021
Pages: 7
Abstractor: As Provided
ISBN: N/A
ISSN: ISSN-1066-8926
EISSN: N/A
For When It Rains: How One Community College Established an Incentivized Student Savings Account
Serna, Karen L.; Eguiluz, Linda; Taylor, Z. W.
Community College Journal of Research and Practice, v45 n4 p238-244 2021
This practice brief addresses the financial insecurity faced by many community college students and provides recommendations for community college practitioners on how to use incentivized savings accounts to teach financial literacy and prepare students for financial challenges that may impact their educational future. Despite reactive attempts at creating on-campus food pantries, financial emergency funds, and financial literacy interventions, little research has addressed how community colleges can be proactive and help students avoid a financial crisis before it begins. This paper details how a large, urban community college took a proactive approach to these concerns and developed and implemented an incentivized student savings account program. The savings program encourages students to complete financial literacy tasks in exchange for account deposits, which could be used for future unanticipated expenses. Implications for program development, financial services practice, and future research are addressed.
Descriptors: Community Colleges, Two Year College Students, Money Management, Banking, Urban Schools, Program Implementation, Literacy, Financial Services, Low Income Students
Routledge. Available from: Taylor & Francis, Ltd. 530 Walnut Street Suite 850, Philadelphia, PA 19106. Tel: 800-354-1420; Tel: 215-625-8900; Fax: 215-207-0050; Web site: http://www.tandf.co.uk/journals
Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education; Postsecondary Education; Two Year Colleges
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: Texas (Austin)
Grant or Contract Numbers: N/A