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Delta Dollars Individual Development Account (IDA) Program

Mission
To help low-income students improve their economic situation by providing strategies for long-term savings behavior and helping pay for post-secondary education expenses.Program Description
Delta Dollars is an 8:1 matched savings Individual Development Account (IDA) program that helps Delta State University students build the financial assets they need to pursue a college education.
• Octuple your money! Save $500 and we will match it with $4,000
• Learn about finances through financial literacy training
• Keeps you on track so you can graduate with minimal educational debt

How it Works
Deposit $25 of earned income each month over 6-18 months into a Renasant Bank Individual Development Account (IDA).We will match it at an 8:1 rate in your student account to meet the goal of securing the funding for your post-secondary education.

Once you complete the requirements, you can use your savings money plus the match to pay for tuition and fees (fall, spring, or summer) including undergraduate or graduate school at Delta State University.

Eligibility Requirements
• Must be a current student
• Must be a U.S. citizen
• Current household income must be at or below 200% of the Federal Income Guideline based on family size (see chart)

2015 Matched College Savings Income Guideline
Number of household members           Annual Income
1                                                                   $23,540
2                                                                   $31,860
3                                                                   $40,180
4                                                                   $48,500
5                                                                   $56,820
6                                                                   $65,140
7                                                                   $73,460
8                                                                  $81,780
*For households with more than 8 people, add $4,160 for each additional person.

Contact Information
David Tanner
dtanner@deltastate.edu
Phone: (662) 846-4808

Funders
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. For more information about Assets for Independence, visit http://idaresources.acf.hhs.gov/.

Partners and Contributors
Delta State University Foundation
Renasant Bank