Saving for college: perspectives from participants in a universal children's savings program.

As the cost of college education continues climbing, college affordability eludes many low- to moderate-income families. Children's Savings Accounts (CSAs) have been proposed as potential resources to build assets and help save for postsecondary education. While a large body of CSA research consists of testing relationships between program participation and well-being indicators, few endeavors have been dedicated to understanding CSA participants' program experiences. This study analyzes in-depth interviews with parents of children enrolled in a statewide CSA program to gain an understanding of families' experiences of saving for postsecondary education. Specifically, this study aims to understand the implementation of the program related to participant enrollment and the extent to which the program influenced participants and encouraged saving for postsecondary education, if at all. Findings on parents' experiences enrolling in the Harold Alfond College Challenge (HACC), perceived influence of HACC participation, and experiences of saving for postsecondary education offer insights on the design and implementation of future CSA programs. [ABSTRACT FROM AUTHOR]