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MI HR0479
Resolution
Status
Passed
12/20/2018
Primary Sponsor
Sarah Anthony
Click for details
AI Summary
- Declares December 21, 2018, as Children's Savings Account Awareness Day in Michigan
- Recognizes Children's Savings Accounts (CSAs) as behavior-based savings programs that help families fund higher education expenses at Michigan's 15 public universities and 28 public community colleges
- Notes that approximately 450,000 children nationwide have CSAs, with 6 operational CSA initiatives in Michigan serving at least 12,635 individuals over the past two years
- Highlights disparities in CSA participation by race and income, with 51% of participants white, 27% Latino, and 11% African American, while low-income and immigrant families remain underaware of these programs
- Emphasizes that children with dedicated higher education savings are four times more likely to complete a degree by age 26, with 33% of low-income students with CSAs graduating compared to 7% without
Legislative Description
A resolution to declare December 21, 2018, as Children’s Savings Account Awareness Day in the state of Michigan.
Children's Savings Accounts Awareness Day
Last Action
Adopted
12/20/2018
Full Bill Text
No bill text available