26913.01-Asset building servi

Study Name

Asset-Building Services—Budgeting and Financial Education Services

Study Sharepoint ID

26913.01

Evaluation name

Evaluation of asset building services

This study received a low study quality rating because it is a quasi-experimental design that does not adjust estimated impacts for potentially important differences between the intervention and comparison groups.

This study received a low study quality rating because it is a quasi-experimental design that does not adjust estimated impacts for potentially important differences between the intervention and comparison groups.

Design

Quasi-experimental design

Services

Financial education

Populations targeted

Young adults (aged 16-24)

Settings in which the intervention was studied

Tested in multiple settings

Demographics

Count age

Count Young Adults

Count Hard-to-employ

Count Disability

Count chronically ill

Count mentally ill

Count substance dependent

Count formerly incarcerated

Count Justice involved

Count limited work history

Count homeless

Count immigrants

Count refugees

Count veterans

Count female

Count Male

Count Any postsecondary education

Count With a high school diploma or GED

Count No high school diploma or GED

Count Married

Count Parents

Count Single Parents

Count Non-Custodial Parents

Count Employed

Count Self employed

Count Unemployed

Count Disconnected/discouraged workers

Count general low-income population

Count Very low income (as classified by the authors)

Count welfare population

Count long-term welfare recipients

Count Asian

Count Black or African American

Count Hispanic or Latino of any race

Count American Indian or Alaska Native

Count Pacific islander

Count White

Count More than one race

Count Unknown race

Count another race

Percent Young Adults

100.00

Percent homeless

29.00

Percent female

50.30

Percent Male

49.70

Percent Any postsecondary education

14.60

Percent Asian

1.10

Percent Black or African American

31.70

Percent Hispanic or Latino of any race

18.20

Percent American Indian or Alaska Native

2.30

Percent Pacific islander

0.20

Percent White

52.80

Percent More than one race

5.40

Percent Unknown or not reported

6.50

Study Characteristics

Group formation formatted

This study used a quasi-experimental design and propensity score matching to construct a comparison group. The study author used data on all youth in foster care who turned 17 in 2011 and received any services under Chafee Foster Care Independence Program (CFCIP). Intervention group members were youth in foster care who received budgeting and financial education services under CFCIP. Youth who received other CFCIP services but did not receive budgeting or financial education services were eligible to be selected for the comparison group. Using a set of observed covariates including sex, age, race and ethnicity, state, highest education level, foster care status, and receipt of other CFCIP services, the propensity score matching method predicted the probability of receiving postsecondary education services. The evaluator constructed the comparison group by selecting people who did not receive budgeting or financial education services yet had similar probabilities as those in the intervention group of receiving those services.

Study timing formatted

People in the sample could receive services at any point between March 2011 and September 2015.

Implementing organization formatted

State and local foster care agencies

Treatment condition formatted

Intervention group members were youth in foster care who turned 17 in 2011 and received budgeting and financial education services under the CFCIP. Budgeting and financial education services typically included information about financial assets and asset building, such as how to open a savings account, as well as information about taxes and assistance with tax filing. Service provision and implementation varied across states, but typically services were provided directly by caseworkers or through referrals to partner agencies or nonprofits.

Comparison condition formatted

Participants in the comparison condition were youth in foster care who turned 17 in 2011 and received any services through the CFCIP other than budgeting and financial education services. These alternative services could fall into any of 13 service categories, including career services, employment services, postsecondary education, and housing education.

Mandatory services formatted

None

Setting details formatted

People received services through the CFCIP throughout the United States.

Delivered by public or private entity?

Public

Secondary domains examined

Housing; financial aid

Citations/manuscripts

Earliest publication year

2020

Most recent publication year

2020

Manuscripts

26913

SRG File Path

https://nam12.safelinks.protection.outlook.com/?url=https%3A//mathematica.share…

Check edits flag

Primary Service

Financial education