Clark County Extension Highlights Saving for Secondary Education During Amercia Saves Week 2019
Saturday, February 16th, 2019 -- 8:23 AM
As part of America Saves Week 2019, scheduled for February 25 ??" March 2, Clark Country Extension is busy spreading the saving message.“America Saves Week is a great opportunity to highlight the importance of starting early to save for children’s/grandchildren’s educational expenses.”, said Nancy Vance, Extension Family Living Educator. The importance of saving for secondary education is being promoted throughout the month to both employers and employees. Incentives are being offered to those that open a new Wisconsin Edvest College Savings Account through a grant received from America Saves. Research on college savings accounts for young children suggests that children are four times more likely to enroll in college and about five times more likely to graduate from college than a child with no savings account. Higher enrollment and graduation rates were found even in families with less than $500 saved for their child’s future education. Having this special savings account contributes to a ‘college-bound identity’ when children know they are expected to continue studying for their future profession after high school.
Children with a ‘college-bound identity’ are found to do better in high school, are more engaged in school, and even get higher grades. Having a designated college savings account is also linked to more interaction between parents and children about finances and conversations about the future. Parents also feel good investing in their child’s future and report higher levels of self-esteem and self-confidence when they are able to set money aside.
To find resources and tools to help with saving for college, visit the UW-Extension website: [url=http://fyi.uwex.edu/collegesavings]http://fyi.uwex.edu/collegesavings[/url] . For more ideas and strategies about household budgeting, contact Nancy Vance - Family Living Educator for Clark County at 715-743-5121.
Feel free to contact us with questions and/or comments.