2015 Reinventing Delaware Ideas
Saving Delaware. 62% of Americans have less than $1,000 in their savings. My proposal is to create a financial camp for impoverished kids so they can learn how to save subsequently. Use a model where they teach their parents how to save. This education model has been successful in healthcare.
Create an education savings account where low income families could elect to have some of the state funding for their child’s education deposited. The account could be used for tutoring or for private school tuition.
Social Impact Bonds – The state should encourage social impact bonds that pay when certain milestones are met. This night be attractive to both investors and NGOs