Matching Grant Survey Results
Center for Social Development at Washington University in St. Louis, Missouri conducted a case study of the NextGen Matching Grant Program:
350 surveys mailed
137 responded (39%)
10 personal interviews conducted
137 responded (39%)
10 personal interviews conducted
The Survey asked 3 primary research questions:
Who is saving in NextGen?
What factors led to account opening?
What factors are associated with successful savings?
Findings:
83% of respondees indicated that the Matching Grant Program was an important factor in their decision to open a NextGen account.
75% of respondees had not saved in anyway for college prior to enrolling in NextGen.
80% of respondees are active savers (not one-time depositors). "… the results affirm that matching grant receipt is associated with additional savings."
The Case Study concluded
"…The grants attached them to NextGen, helped them feel like they were making savings progress, or kept them saving when they otherwise might have stopped. In addition, the match limit ($200 in 2005) created a savings expectation from some account owners, who viewed the limit in terms of how much they must save to receive the maximum award."
Download a copy of the NextGen Matching Grant Case Study
