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Conference Program

Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).

Daily Overview

Session

D.03. Economic Constraints in Educational Participation and the Design of New Policies (2/2)
Location: Aule di Botanica (CU028): Aula Blu5

Convenor(s): Raffaella Dispenza (Acli – Associazioni Cristiane Lavoratori Italiani); Luca Andrea Fanelli (ActionAid International Italia Ets); William Revello (Fondazione Ufficio Pio Ente Filantropico)

Presentation 2

Effects of a Matched Savings Program to Tackle School Dropout in Italy

Davide Azzolini¹, Antonina Mazara¹, Loris Vergolini^1,2

1: FBK - IRVAPP, Italy; 2: Università di Bologna

Italy has historically experienced high levels of school dropouts, with significant social disparities persisting to this day. According to Istat (2025), in 2024 the upper secondary non-completion rate among children of low-educated parents was nearly twenty times that of children of university graduates (22.8% vs. 1.2%).

This study evaluates the effectiveness of WILL, a savings-based financial aid program for high school education. Implemented by philanthropic organizations, the program ran in four areas (Torino, Firenze, Teramo, South Sardinia) from 2019 to 2023. Inspired by Children’s Savings Accounts (CSA) and Child Development Accounts (CDA), the program drew on asset-building theory, which posits that even modest savings can foster expectations, planning, and long-term investment in education (Elliot 2024).

It targeted first-year lower-secondary school students from low-income families, offering a digital savings wallet for educational expenses, with deposits (up to €1,000) multiplied by four. Beneficiaries also received financial education, guidance, and educational support.

We run a randomized controlled trial which included 576 students (293 treated, 283 control). Outcomes were collected with survey data collected 20, 36 and 60 months after randomization. The program increased family savings without leading to greater material deprivation. On average, households saved €718 and spent €3,080 on educational expenses. Although savings and spending were lower among families with lower incomes, the program had a significant impact on these families in terms of increased educational aspirations and expectations, as well on students’ middle school final grade. Additionally, the program positively influenced students’ regular school attendance by reducing instances of skipping school days, missing classes, or arriving late. It also increased the likelihood of students being enrolled in the expected grade and not falling behind 60 months after randomization. The findings show the potential of matched savings accounts to enhance financial aid policies. However, the financial mechanism’s regressivity could be addressed through targeted program adjustments.