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Upon enrolling in an IDA program, a refugee commits to and signs a savings plan agreement which specifies the savings goal, the match rate, and the amount the refugee will save each month. Basic financial training is provided by the grantee.
One type of matched savings program is an Individual Development Account (IDA). If you qualify, you’ll work with an assigned counselor to deposit funds into an IDA over a set period of time.
The 105th Congress appropriated $105 million to fund IDAs over the course of 5 years. AFI is the "largest federal funder of IDA programs" awarding grants to more than 400 non-profits and government programs. More than 84,000 families received some sort of assistance from AFI through the IDA and financial education programs.
Savings should be used to build financial aspirations, knowledge, and skills: Age-appropriate financial education should be delivered by a variety of sources (e.g. financial institutions, nonprofit organizations, youth development organizations, schools, and families).
The good news is that there are many first-time homebuyer grants available that can help you bridge the savings gap to get into a home. ... has a matching program for Black and Latino first-time ...
The federal government will start matching 50% of retirement account contributions up to $2,000 per year through the new Saver’s Match program. This money injects funds directly into savers ...
OCS administers six programs which provide funding for community development and poverty alleviation for private and public agencies: [1]: 79 [3]: 346 The Assets for Independence program, which provides matching contributions to Individual Development Accounts for those eligible for the Temporary Assistance for Needy Families program. [4]
A 529 college savings plan can be a great way to help your future student cut down on student loan costs. Plus, these special savings plans provide some valuable tax benefits, making them ...