Innovation Profile: Matched Education Savings Account
Innovative Idea Champion
Next Generation Innovator
Selected in 2010
Email Maggie | Visit Maggie’s Web site
About the Innovation
The Matched Education Savings Account (MESA) College Initiative is an innovative approach to financing higher education and college access for low-income and underrepresented students. The MESA program uses colleges and universities themselves as the students’ portal to matched savings accounts. The accounts leverage student savings by a rate of five to one and provide withdrawals timed to tuition payment dates. This model can be brought to scale by the nonprofit managing the Assets for Independence matched savings accounts by allowing that organization to concentrate on managing larger numbers of accounts and more funds while the schools and local partners interface with student savers. This innovation has the potential to change the financial aid landscape by enlisting colleges and universities to consider matched savings accounts as a financial asset to help college-bound students of all ages pay for post-secondary education expenses.
About the Innovator
Maggie is an asset development practitioner with more than nine years of community development and corporate experience from domestic and international work. In her current capacity at CASA of Oregon, she oversees the Matched Education Savings Accounts College Initiative and provides operational and technical support to the organization’s Individual Development Account (IDA) program called VIDA, a collaborative of over forty non-profit and housing authority partners that deliver IDAs in the region.