IDA - Individual Development Account. Matching dollars help at-risk youth move forward.
What is available through the Foster Youth program?
Participating Foster Youth are offered individual support and guidance through a range of activities and classes as they build their plan for achieving their individualized goals. The goal of the program is to provide education and support to stabilize and secure their future as they transition into young adulthood.
Participants are assisted in establishing a specialized savings account called an Individual Development Account (IDA) which helps build that account for obtaining higher education or career-oriented activities. The matching funds may be applied to a variety of areas including education, housing, and transportation expenses that are related to a job or schooling.
What is the Individual Development Account (IDA)?
This is a program for foster youth earning 200% or less of the Federal Poverty Income level. When you save in an IDA, your savings are matched up to a threshold limit. In addition to earning matching dollars, you will learn about budgeting, saving, banking and more when you open an IDA. Participants who open IDAs (account holders) are required to attend financial education classes. Account holders will also receive individual counseling and other training depending on the specifics of their needs.
Am I eligible for IDA?
Foster youth in Amador County;
Foster Youth Services
10590 Hwy 88, Jackson, CA. 95642
(209) 223–1485 Ext. 226