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What's new with SEED?The SEED Initiative welcomes two new state policy partners for 2007-08: Action for Children North Carolina and the Center for Public Policy Priorities (CPPP) in Texas. Action for Children North Carolina, the preeminent organization working on child welfare in the state, will work toward the establishment of a private system of accounts in the state by 2010. CPPP, with support from the Texas Asset Building Coalition, will work to ensure progressive implementation of the Texas Match and Save Program, the newly authorized matching grant program for the state’s revived prepaid tuition program. The SEED team is thrilled to be working with these partners in two states that show much promise for policy change around children’s savings accounts. Policy Developments. Mayor Michael Bloomberg announced a new pilot program for youth aging out of foster care in New York City. Youth Financial Empowerment will provide financial education and matching funds for contributions made to IDAs for 450 youth in foster care. Participants in the program will receive 2-to-1 matches on deposits into an IDA, up to a maximum match of $2,000. The savings can be used to secure or maintain stable housing and pursue educational opportunities, including vocational training. The mayor’s new program is closely modeled on the Opportunity Passport concept that is being implemented by the Jim Casey Youth Opportunities Initiative (JCYOI) at several sites across the country, including at SEED community partner Mile High United Way in Denver. JCYOI and Mile High United Way provided extensive advice and guidance to the mayor’s office in the development of this initiative. Click here to read the press release from Mayor Bloomberg’s office. **** Events. CFED will host the 2007 Assets and Opportunity Institute on September 24-25 in San Francisco. The Institute will bring together more than 100 state-level policymakers, advocates, and others for a two-day forum to learn, share and explore ways to advance policy together. The Institute will feature small-group sessions on each of the 12 core policies highlighted in the 2007-08 Assets and Opportunity Scorecard, including one on Incentives for College Savings. Don Baylor of the Center for Public Policy Priorities and Margaret Clancy of the Center for Social Development will serve as faculty for the session. Click here to learn more about the Institute and to register. |
Asset-building strategies give families a leg up Why is it so hard to save for college in Texas? The Working Poor and College Access Teach the Children |
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This bulletin is designed primarily for CFED's Partners in the SEED Initiative; however, other policymakers, advocates and practitioners may also find it useful. Please feel free to share it either by forwarding this e-mail or by sending us suggested additions to our mailing list. We welcome your feedback and suggestions. |
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