Assets for Independence Program
Note: The Assets for Independence Program is only accepting applications from applicants of Coahoma, Panola, Quitman, and Tallahatchie county until further notice.
AFI works to help low-income families transition into economic self-sufficiency.
Assets for Independence (AFI) is a community-based approach for giving low-income families a hand up out of poverty. Utilizing existing individual and community assets, AFI strengthens communities from within by participants saving earned income through the use of matched savings accounts called Individual Development Accounts (IDAs). A grant from Assets for Independence (AFI), a program of the U.S. Department of Health and Human Services, funds approximately 50% of costs for this program. The remaining 50% is funded through non-Federal sources. The program is designed to assist low to moderate income families who fall under 200 percent of the Federal Poverty Guideline save for their goal of post-secondary education at Delta State University. All eligible participants will complete financial literacy training (FCS 215 – Personal Finance or the online Money Smart curriculum) and save $500 over a period of 6 – 18 months from earned income with a minimum deposit of $25 per month. The IDA program can match a student’s savings with $4,000 in grants and scholarship funds after their fulfillment of the program’s commitments. For more information about Assets for Independence, visit http://idaresources.acf.hhs.gov/.
The FDIC is committed to ensuring that consumers have access to basic banking and other financial services as well as to developing more and better data about unbanked and under banked households and factors that hinder them from fully utilizing the mainstream financial system.
Money Smart is a comprehensive financial education curriculum designed to help low and moderate income individuals outside the financial mainstream enhance their financial skills and create positive banking relationships. The Money Smart modules are: Bank on It, Keep It Safe, Borrowing Basics, Your Credit, Check It Out, Charge It Right, Money Matters, Loan To Own, Pay Yourself First, Your Own Home, and Financial Recovery
Center for Community and Economic Development
U.S. Department of Health and Human Services, Administration for Children and Families
Partners and Contributors