ASPIRE Savings Account
The ASPIRE program helps young people - impacted by foster care - get on the path of financial independence.
Many young people want (or need) to buy a car, save for college, pay down health related debt, or invest in technology for further education (like laptops), but have no idea where to start.
ASPIRE combines financial education, financial planning support, and the actual “seeding” of a personal savings account to get youth on their way to making these types of investments, known as assets.
Participants in the program receive:
Nine hours of classroom based financial education, tailored to the unique needs and realities of young people in foster care.
Financial coaching, including assistance with setting goals to save money.
$100 towards the opening of an Individual Development Account (IDA), and a dollar for dollar match (up to $1000 per year) towards an asset purchase.
Access to additional financial education and resources related to transportation, housing, saving and investing, and education/training.
How do youth access ASPIRE?
Participants must be between the ages of 16-26, and have spent at least one day after their 14th birthday in an out-of-home DCYF placement.
Youth will need to have a valid State Identification Card, a Driver’s License, or a Passport to begin the financial literacy portion of the program.
Youth must be able to open a savings account (a valid government issued I.D. is required to open a bank account).
And, youth need to be committed to save money towards their financial goals.
ASPIRE stands for: Aligning Savings, Permanency, Information, Resources, and Empowerment, and is possible with funding from the Jim Casey Youth Opportunities Initiative at the Annie E. Casey Foundation.
Enroll in ASPIRE Today!
To enroll in ASPIRE, please complete this form. If you have any questions, contact (401) 438-3900 x105.