Poverty

Event Summary: Saving Financial Aid

July 15, 2013
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Today, the Asset Building Program co-hosted an event with the Assets and Education Initiative (AEDI) at the University of Kansas. The event focused on new research on the issue of children's savings for college and how policy can better help low- and middle-income students both get to college and stay enrolled. The research from the field is clear: having a savings account in a child's own name has a positive impact that is sustained even when controlling for family income, educational background and other important factors. A new AEDI report Building Assets, Delivering Results: Asset-based Financial aid and The Future of Higher Education was released at the event and is available now for download. We've done something new for this event and summarized the conversation in a Storify. Check it out here, or scroll to the bottom of this post to read it.

Upcoming Event: Saving Financial Aid

July 11, 2013
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The Asset Building Program is looking forward to hosting an event this coming Monday morning in collaboration with the Assets and Education Initiative (AEDI) at the University of Kansas. Join us on Monday, July 15th at 9:30 am here at our office in D.C. or live online. The event, Saving Financial Aid: Expanding Educational Opportunity and Reimagining the Way We Pay for College by Promoting Children’s Savings, will explore the relationship between savings and educational outcomes, the potential for policy to support the savings of lower-income Americans, and the importance of including an assets-perspective in the higher education financial aid conversation.

Asset Limits in Public Assistance Programs

  • By
  • Rachel Black,
  • New America Foundation
July 11, 2013

For many low-income families, slight changes in their financial circumstances can have dramatic consequences on their wellbeing. Missing a rent payment when hours at work are cut, missing meals when winter comes to pay for heat instead, or missing an opportunity to move to a safer neighborhood because there isn’t money for a security deposit. In these situations, even a small amount of additional resources can make the difference between getting by, falling behind, or getting ahead.

Asset Limits in the Supplemental Nutrition Assistance Program

  • By
  • Rachel Black,
  • New America Foundation
July 11, 2013

Savings, even in modest amounts, have been shown to create a protective buffer within a family’s budget that minimizes these negative outcomes and promotes the positive.Ideally, savings would play a complementary role to the system of safety-net supports that are designed to provide temporary assistance to families for purchasing basic goods and services.

Asset Building News Week, June 17-21

June 21, 2013
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The Asset Building News Week is a weekly Friday feature on The Ladder, the Asset Building Program blog, designed to help readers keep up with news and developments in the asset building field. This week's topics include housing, public benefits, racial and economic equality.

Asset Building News Week, June 4-7

June 7, 2013
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The Asset Building News Week is a weekly Friday feature on The Ladder, the Asset Building Program blog, designed to help readers keep up with news and developments in the asset building field. This week's topics include housing, health and wealth, financial services, and unemployment.

Financial Inclusion and Access within the Latino Immigrant Community

June 4, 2013

The National Council of La Raza (NCLR) hosted an event today to release “Latino Financial Access and Inclusion," a new report that examines the relationship between comprehensive immigration reform and household financial stability for U.S. Latinos. At the event, experts from NCLR, Citi, the American Bankers Association, and a Chicago-based organization, The Resurrection Project, explored the report's findings on financial inclusion within the Latino immigrant community. The report analyzes data from a survey of roughly 1,000 low-income Latino-identified individuals across California during 2012.

Janet Murguía, President of NCLR, began the event by discussing the historical exclusion Latino immigrants have faced in the mainstream financial services marketplace. Despite myriad barriers to accessing financial services and some significant economic challenges, this report found that Latino consumers were actively prioritizing saving, utilizing a range of financial products to meet their needs, and displaying savvy engagement with financial service providers.

The report also builds the case for comprehensive immigration reform and ensuring a path to citizenship by demonstrating the variance in financial stability and engagement by citizenship status. For example, among immigrants who had been in the U.S. the same amount of time, naturalized citizens were more likely to be engaged in the mainstream financial services sector than their non-citizen counterparts. As Murguía put it, U.S. citizenship opens the doors to not only better job opportunities and education, but also greater financial inclusion. When combined, these resources create a path to upward economic and social mobility. Thus, the report explicitly frames citizenship status as an asset and calls for the current immigration reform conversation to better reflect the economic needs and opportunities of the Latino immigrant community.

An Assets Agenda for the States

  • By Karen Harris, Illinois Asset Building Group
May 31, 2013

"An Assets Agenda for the States" examines current state asset building efforts with an eye toward examining those policies and priorities that are emerging as trends in this challenging economic environment. This appendix serves as a resource accompanying the paper, which can be viewed here.

Asset Building News Week, May 27-31

May 31, 2013
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The Asset Building News Week is a weekly Friday feature on The Ladder, the Asset Building Program blog, designed to help readers keep up with news and developments in the asset building field. This week's topics include the economy, inequality, government assistance, and financial services.

Asset Building News Week, May 20-24

May 24, 2013
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The Asset Building News Week is a weekly Friday feature on The Ladder, the Asset Building Program blog, designed to help readers keep up with news and developments in the asset building field. This week's topics include public benefits, poverty, housing, and unemployment.

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