The Federal Reserve Bank of Boston’s Children’s Savings Accounts (CSAs) Initiative raises awareness about and promotes research of CSAs for higher education. Since 2013, they have focused on the policy, practice, and research behind CSAs as part of the Bank’s regional and community focus on household financial stability.

To support CSA efforts across the First District, the Boston Fed has organized the New England Children’s Savings Account Consortium in partnership with Maine’s Alfond Scholarship Foundation. All six New England states have adopted or are currently considering adopting automatic, universal CSAs as a mechanism for encouraging families at all income levels to save for post-secondary education. The Consortium works to understand the immediate and long-term effects of CSAs on educational and economic outcomes in these states.

Review this material to learn more about how the Federal Reserve Bank of Boston is identifying longer-term research and engagement opportunities to help New England states gauge the impact and efficacy of CSA programs.