$75,000 NeighborWorks Western PA: Fund My Future Expansion:
PROGRAM: 2016 Catalytic
GRANTEE: NeighborWorks Western PA
In partnership with the Housing Authority of the City of Pittsburgh (HACP), NeighborWorks will expand the college savings account program- Fund My Future (FMF) outside of the Propel Charter School System to serve youth and families living within the Bedford Dwellings community of the Hill District. FMF is an incentive-based program, encouraging family savings through monthly and annual raffles of gift cards and cash prizes. According to a 2013 report by the Assets and Education Initiative, children who have just $500 or less saved for college are three times more like to enroll in college. A savings account- particularly in a child’s name- is associated with better academic performance. Beverly Jewel Wall Lovelace (BJWL) Out-of-School Time Program is also a key partner and will provide staff time and resources to help with the implementation of this initiative. In addition to the FMF program, NeighborWorks’ existing financial education and counseling services will be made available to adults living in the Bedford Dwellings community. Within the first 12 months of the program, at least 64 youth are expected to participate in the FMF program and 65 adults are to be served through financial education coaching and workshops.