The Youth IDA is designed to be a challenging and financially rewarding program for metro Atlanta youth ages 14-18 that promotes financial literacy, give students the experience of saving, learning about money, banking, how money impacts one's goals and quality of life and to be rewarded for saving money by matching their savings upon completion of the program. Students have a savings goal of a $1,000 and it is matched 2:1. They are given up to four years to save. At the end of the savings period they can use their savings and the match funds to pay for post-secondary education.
IDA funds can be used for: tuition, fees, books, computer for school, or to go to technical school, uniforms, tools or instruments.
Can you tell me more about how the Youth IDA works?
United Way partners with these youth-serving organizations: Boys and Girls Clubs of Metro Atlanta, Covenant House, RRC-Youth Work Program, Atlanta Public Schools, YearUp and Operation Hope. These partners provide quality asset-building and financial literacy support to youth. United Way provides partners with match funds, ongoing training and technical assistance around IDA services delivery.
The Youth IDA model builds upon demonstrated experience and research from the field that shows youth succeed in saving and achieve the life-changing outcomes possible through acquisition of an educational asset when asset-building is part of a range of support services that work towards reinforcing accountability, long-term planning, and encouraging goals such as post-secondary education. Youth IDA partners were selected through a competitive process that identified organizations with the capacity to provide youth with a strength-based and comprehensive youth development experience. Partners provide their youth participants with a whole range of supportive services which include employment, job training, tutoring, college bound services, career exploration, after school activities, life skills training, and case management.
What if I am not in one of these programs?
You can still participate in the Youth IDA even if you are not engaged with one the community partners listed above. Interested youth and their families can click here to request an application packet, or email us if you have questions.
To qualify:
-
The families’ total household income (adjusted gross income, after taxes) cannot exceed 200% of the Federal Poverty Level (FPL). Your household includes all adults and children who live together and share expenses — related or unrelated.
-
Must be a current resident of the 13-county United Way service area (refer to map)
-
Youth must be currently in school or working