If a wealthy donor came along and was willing to fund the 529s (a type of educational savings programs) of children from low income families, what supports would help those families to open the account?

-what barriers could these families face that supports or services could be given alongside the donation to help the families open the 529 accounts? Food, transportation, etc?

- I'm trying to understand if there are cultural factors, beyond just the lack of $$$ to open a 529 account, that cause some lower income people to not have 529 and other educational savings.

- What barriers would these families face outside of money? Like do they lack basic things like IDs? Do they simply distrust gov't so won't open it?

- Are there any cultural factors (non-monetary) that cause poorer/working class people to not invest in 529 type educational savings programs?

Submitted March 14, 2021 at 10:21AM by White_Mlungu_Capital https://ift.tt/3qLrb1Z