MINNESOTA: ‘ Low Income Family Could See $100 Increase in Grants ‘

AceFinanceReport – USA:April.06: A Minnesota low-income family of three receives about $532 a month from the state to help reach financial stability. Democratic Gov.

Mark Dayton and some lawmakers want to increase the grants by $100 to help the nearly 33,000 families in the program deal with rising housing and transportation costs.

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USA FEDERAL RESEARCH; ‘ Children with Small Savings Accounts Seven Times More Likely to Graduate ‘

#AceFinanceNews – USA:April.06: Children who have even small savings accounts for college are seven times more likely to attend and graduate from college than those who have no savings accounts.

The seed amounts tend to be small, but they can make a big difference, researchers say. Children who have even small savings accounts for college are seven times more likely to attend and graduate from college than those who have no savings accounts, reports William Elliott III, an associate professor at the University of Kansas, who has written extensively on children’s savings accounts.

College enrollment among low-income students has risen but significantly lags enrollment by middle- and high-income students.

In 2012, about 51 percent of recent low-income high school graduates and equivalency holders were enrolled in college, while enrollment among middle- and high-income students had risen to nearly 65 percent and 81 percent, respectively, the Pew Research Center, citing federal statistics, reported last year.

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