New strategies for offering education IDAs

1. New strategies for offering education IDAs Adrianna Kezar University of Southern California

2. Partnership principles • Identify the right savers • Match education to the needs of the region or state • Invite educational partners to join your advisory board • Identify the right postsecondary partner(s) • Develop a compelling message and educate your potential partner

3. Partnership principles • Recognize that nonprofits and educational institutions often have different cultures • Start at the top • Encourage top-level leaders to brainstorm with key offices • Develop personal contacts and a champion • Understand the financial aid implications of IDAs

4. Partnership principles • Create a partnership around existing services or strengths of the postsecondary institution • Brainstorm the overall design together • Formalize the partnership in a memorandum of understanding • Build a network or collaborative

5. Design Principles • Design with postsecondary partner – develop campus team • Recruiting clients • Youth versus adult model • Access versus retention model • Needs are more complicated to identify – books, equipment, when tuition is needed • Different match rate • Bundling services

6. Design Principles • Marketing and outreach may be more of a challenge • Use postsecondary partner for asset specific training Also see our asset specific training resources at http://www.usc.edu/dept/chepa/accounts/resources2.shtml • Timing of disbursements might differ • Understand financial aid process • Apply IDA before Pell

7. Design Principles • Multiple payments • Financial education specific to schooling – summer work, scholarships, etc. • Integrate financial education into schooling with youth • Working with parents • Distance education for adults, particularly in rural areas • Extend the time of the IDA

8. For more information • See our website: http://www.usc.edu/dept/chepa/accounts/ • Design paper in draft – soon to be published! • Many thanks!