Symposium will explore solutions on college affordability
LAWRENCE — Rising student loan burdens, escalating wealth inequality and a pervasive sense that the American Dream of financial security and economic mobility are slipping beyond the grasp of many Americans have led to questions whether higher education is still "worth it" in today’s economy. An upcoming symposium at the University of Kansas will explore what measures could make higher education more affordable.
"The Role of Children's Savings Accounts in the Economic, Social and Political Context" will take place Nov. 9-11 at the Oread Hotel. It will bring together leading Children's Savings Accounts (CSA) practitioners, policymakers, advocates and scholars, as well as those whose work in economic mobility, financial aid, financial services or higher education intersects with CSA scholarship.
“Americans need more from our financial aid system than just a way to confront the immediate task of paying the tuition bill,” said Willie Elliott, director of KU's Center of Assets, Education and Inclusion. “When we insist on financial aid policies that equip children for success, create the conditions for equitable outcomes and facilitate lifelong economic well-being — the true motivation of most college-goers — asset approaches such as CSAs perform far better than reliance on student debt. Growing recognition of this calculus, from many quarters of society, makes changes to U.S. financial aid policy likely. This is a crucial moment, then, in which revolutionizing our approach could pave a path to prosperity for generations to come.”
The symposium will begin Nov. 9 with a keynote address by Michael Sherraden, a thought leader in the field of institutional asset building and one of Time Magazine’s 100 Most Influential People. Panels on Nov. 10 will include Tom Shapiro, a noted expert on racial wealth inequality; Bob Annibale, global director of Citi Community Development; Ray Boshara of the Federal Reserve Bank of St. Louis; and national leaders in efforts to cultivate financial capability through early experiences with financial institutions, including Terri Friedline, KU assistant professor of social welfare and the AEDI faculty director of financial inclusion.
One panel Nov. 9 will highlight new research from AEDI that quantifies student debt’s effects on how long it takes a college graduate to reach the median of the U.S. income and wealth distributions. Moderated by Missouri State Treasurer Clint Zweifel, the discussion will explore new initiatives in Kansas City, Indiana, and the Bay Area to integrate scholarship programs and CSAs.
The symposium also will feature recent research on CSA outcomes from high-profile programs such as San Francisco’s Kindergarten-to-College, SEED for Oklahoma Kids, Maine’s Harold Alfond College Challenge, Promise Indiana and New Mexico’s Prosperity Kids.
Keynote speakers and leading panelists will be available to speak with media by request during the symposium. For more information or to register, visit http://aedi.ku.edu/upcoming-event.