View in EDS

Child Savings Accounts: Overview and Analysis. CRS Report R48554, Version 2

Saved in:
Bibliographic Details
Title: Child Savings Accounts: Overview and Analysis. CRS Report R48554, Version 2
Language: English
Authors: Brendan McDermott, Library of Congress, Congressional Research Service (CRS)
Source: Congressional Research Service. 2025.
Availability: Congressional Research Service. Web site: https://crsreports.congress.gov/
Peer Reviewed: N
Page Count: 30
Publication Date: 2025
Intended Audience: Policymakers
Document Type: Reports - Descriptive
Education Level: Higher Education
Postsecondary Education
Descriptors: Money Management, Children, Banking, Parent Child Relationship, Taxes, Federal Legislation, Incentives, Program Descriptions, Program Effectiveness, Parent Student Relationship, Paying for College, Family Income, Caregiver Child Relationship
Abstract: Congress has expressed interest in encouraging households to save more of their own income for future large purchases for children and young adults, such as for higher education. Child savings accounts are one tool that various levels of government, as well as some nonprofit groups, have used to encourage household saving. Many states have established qualified tuition plans--known as "529 plans" in reference to the section of the Internal Revenue Code that governs their tax treatment--that function as a form of child savings account. Savers (usually parents or guardians) contribute to these plans on behalf of a designated child beneficiary using after-tax dollars, but any income such accounts generate is not subject to the federal income tax provided the beneficiary uses withdrawals for qualified expenses. Most child savings account programs in the United States today structure the accounts they provide as a form of 529 account. Congress is considering creating an additional such federal program as part of reconciliation legislation for FY2025. Child savings account programs establish accounts wherein children ("beneficiaries") and their families can save money for future large purchases. Federal lawmakers have also proposed child savings account programs that beneficiaries could use for expenses other than higher education, such as purchasing a first home or starting a business. This report provides an overview of child savings account programs and their interaction with the federal tax and benefit system, as well as analysis of their theoretical and observed impacts on student and family outcomes. It ends with brief descriptions of a nonexhaustive list of child savings account programs in the United States.
Abstractor: ERIC
Entry Date: 2026
Accession Number: ED678594
Database: ERIC
FullText Text:
  Availability: 0
CustomLinks:
  – Url: https://eric.ed.gov/contentdelivery/servlet/ERICServlet?accno=ED678594
    Name: ERIC Full Text
    Category: fullText
    Text: Full Text from ERIC
Header DbId: eric
DbLabel: ERIC
An: ED678594
AccessLevel: 3
PubType: Report
PubTypeId: report
PreciseRelevancyScore: 0
IllustrationInfo
Items – Name: Title
  Label: Title
  Group: Ti
  Data: Child Savings Accounts: Overview and Analysis. CRS Report R48554, Version 2
– Name: Language
  Label: Language
  Group: Lang
  Data: English
– Name: Author
  Label: Authors
  Group: Au
  Data: <searchLink fieldCode="AR" term="%22Brendan+McDermott%22">Brendan McDermott</searchLink><br /><searchLink fieldCode="AR" term="%22Library+of+Congress%2C+Congressional+Research+Service+%28CRS%29%22">Library of Congress, Congressional Research Service (CRS)</searchLink>
– Name: TitleSource
  Label: Source
  Group: Src
  Data: <searchLink fieldCode="SO" term="%22Congressional+Research+Service%22"><i>Congressional Research Service</i></searchLink>. 2025.
– Name: Avail
  Label: Availability
  Group: Avail
  Data: Congressional Research Service. Web site: https://crsreports.congress.gov/
– Name: PeerReviewed
  Label: Peer Reviewed
  Group: SrcInfo
  Data: N
– Name: Pages
  Label: Page Count
  Group: Src
  Data: 30
– Name: DatePubCY
  Label: Publication Date
  Group: Date
  Data: 2025
– Name: Audience
  Label: Intended Audience
  Group: Audnce
  Data: Policymakers
– Name: TypeDocument
  Label: Document Type
  Group: TypDoc
  Data: Reports - Descriptive
– Name: Audience
  Label: Education Level
  Group: Audnce
  Data: <searchLink fieldCode="EL" term="%22Higher+Education%22">Higher Education</searchLink><br /><searchLink fieldCode="EL" term="%22Postsecondary+Education%22">Postsecondary Education</searchLink>
– Name: Subject
  Label: Descriptors
  Group: Su
  Data: <searchLink fieldCode="DE" term="%22Money+Management%22">Money Management</searchLink><br /><searchLink fieldCode="DE" term="%22Children%22">Children</searchLink><br /><searchLink fieldCode="DE" term="%22Banking%22">Banking</searchLink><br /><searchLink fieldCode="DE" term="%22Parent+Child+Relationship%22">Parent Child Relationship</searchLink><br /><searchLink fieldCode="DE" term="%22Taxes%22">Taxes</searchLink><br /><searchLink fieldCode="DE" term="%22Federal+Legislation%22">Federal Legislation</searchLink><br /><searchLink fieldCode="DE" term="%22Incentives%22">Incentives</searchLink><br /><searchLink fieldCode="DE" term="%22Program+Descriptions%22">Program Descriptions</searchLink><br /><searchLink fieldCode="DE" term="%22Program+Effectiveness%22">Program Effectiveness</searchLink><br /><searchLink fieldCode="DE" term="%22Parent+Student+Relationship%22">Parent Student Relationship</searchLink><br /><searchLink fieldCode="DE" term="%22Paying+for+College%22">Paying for College</searchLink><br /><searchLink fieldCode="DE" term="%22Family+Income%22">Family Income</searchLink><br /><searchLink fieldCode="DE" term="%22Caregiver+Child+Relationship%22">Caregiver Child Relationship</searchLink>
– Name: Abstract
  Label: Abstract
  Group: Ab
  Data: Congress has expressed interest in encouraging households to save more of their own income for future large purchases for children and young adults, such as for higher education. Child savings accounts are one tool that various levels of government, as well as some nonprofit groups, have used to encourage household saving. Many states have established qualified tuition plans--known as "529 plans" in reference to the section of the Internal Revenue Code that governs their tax treatment--that function as a form of child savings account. Savers (usually parents or guardians) contribute to these plans on behalf of a designated child beneficiary using after-tax dollars, but any income such accounts generate is not subject to the federal income tax provided the beneficiary uses withdrawals for qualified expenses. Most child savings account programs in the United States today structure the accounts they provide as a form of 529 account. Congress is considering creating an additional such federal program as part of reconciliation legislation for FY2025. Child savings account programs establish accounts wherein children ("beneficiaries") and their families can save money for future large purchases. Federal lawmakers have also proposed child savings account programs that beneficiaries could use for expenses other than higher education, such as purchasing a first home or starting a business. This report provides an overview of child savings account programs and their interaction with the federal tax and benefit system, as well as analysis of their theoretical and observed impacts on student and family outcomes. It ends with brief descriptions of a nonexhaustive list of child savings account programs in the United States.
– Name: AbstractInfo
  Label: Abstractor
  Group: Ab
  Data: ERIC
– Name: DateEntry
  Label: Entry Date
  Group: Date
  Data: 2026
– Name: AN
  Label: Accession Number
  Group: ID
  Data: ED678594
PLink https://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=eric&AN=ED678594
RecordInfo BibRecord:
  BibEntity:
    Languages:
      – Text: English
    PhysicalDescription:
      Pagination:
        PageCount: 30
    Subjects:
      – SubjectFull: Money Management
        Type: general
      – SubjectFull: Children
        Type: general
      – SubjectFull: Banking
        Type: general
      – SubjectFull: Parent Child Relationship
        Type: general
      – SubjectFull: Taxes
        Type: general
      – SubjectFull: Federal Legislation
        Type: general
      – SubjectFull: Incentives
        Type: general
      – SubjectFull: Program Descriptions
        Type: general
      – SubjectFull: Program Effectiveness
        Type: general
      – SubjectFull: Parent Student Relationship
        Type: general
      – SubjectFull: Paying for College
        Type: general
      – SubjectFull: Family Income
        Type: general
      – SubjectFull: Caregiver Child Relationship
        Type: general
    Titles:
      – TitleFull: Child Savings Accounts: Overview and Analysis. CRS Report R48554, Version 2
        Type: main
  BibRelationships:
    HasContributorRelationships:
      – PersonEntity:
          Name:
            NameFull: Library of Congress, Congressional Research Service (CRS)
      – PersonEntity:
          Name:
            NameFull: Brendan McDermott
    IsPartOfRelationships:
      – BibEntity:
          Dates:
            – D: 03
              M: 06
              Type: published
              Y: 2025
          Titles:
            – TitleFull: Congressional Research Service
              Type: main
ResultId 1