First State Times

State Treasurer Colleen Davis has announced the distribution of the inaugural Aspire529 awards. Aspire 529 provides $529 for foster youth aging out of the system to use for expenses related to continuing their education.

“Aging out of foster care presents many obstacles for young adults, with financial concerns often topping the list,” said Treasurer Davis. “Aspire529 will help them break through some of those barriers.”

This year’s eight award winners, four from New Castle County, three from Kent County, and one from Sussex County said they would put the money toward the cost of tuition, books, transportation, supplies, and child care.

In addition to the money, winners also received education on how to handle it. Each recipient was required to complete two personal financial coaching sessions from trained, skilled professionals at $tand By Me®.

“Having money to spend is just half of the equation,” Treasurer Davis said, “the other part is knowing the best way to manage it. Our office, along with the Plans Management Board, which endorsed the program, wanted to make sure Aspire529 wasn’t merely a handout, but included the knowledge and skills to build responsible financial behavior.”

The collaborative effort that went into the creation and implementation of the Aspire529 program shows how Delaware can rally together to help those who need it most.

“Positive outcomes for young adults are achieved through collaboration with community partners, affordable education, and development of self-sufficiency skills,” said Sophia Elliott,Transitional & Independent Living Program Manager with the Division of Family Services. “The Department of Services for Children, Youth, and Their Families is happy to partner with Treasurer Davis to pave the way for bright futures for youth who have experienced foster care in Delaware.”

“Kind to Kids Foundation believes that every child deserves a bright future,” said President and founder Caroline Jones. “While we provide education, advocacy, and guidance to children in foster care, we are thrilled to know the State Treasurer is helping these children we assist today have a brighter tomorrow.”

“The Aspire529 program is great for our youth who experience financial barriers that may cause issues or disruption with continuing their education,” said Aisha Stanford, Life Line’s Program Manager at West End Neighborhood House Inc., “both the money and the guidance will be integral parts of their financial future.”

More information can be found at de.gov/aspire529. Questions about the program can be sent to Treasury_Aspire529@delaware.gov.

Original source can be found here.