Children’s Savings Accounts (CSAs) most often refers to a savings account opened for a very young child—at birth or by kindergarten age—into which a third party, such as a city, a nonprofit, a foundation, a parent, or others can deposit funds that are to be disbursed for postsecondary education expenses. The child is the named beneficiary on the account. Some CSAs target older children and youth.
CSAs have two general goals:
- To build savings for the child, thus creating expectations for postsecondary education, and
- To encourage the family to develop savings habits.
Click through these materials to understand more about Children’s Savings Accounts.