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WHAT'S HAPPENING IN YOUR COMMUNITY
Someone in your family going to college or technical school?
Washington College Bound Scholarship
The legislature passed a bill (SB 5098) during the 2007 session that creates the Washington College Bound Scholarship.
Eligible students for the WA College Bound Scholarship are students eligible for free or reduced-price lunches. These students are notified of their eligibility for the scholarship in 7th grade -- to be awarded the scholarship, students must pledge they will:
- Graduate from high school with a C average, and have no felony convictions.
- Family income at HS graduation below 65% of the state median, and must be a resident student.
The scholarship max award is four years. Plus, each recipient will receive $500 for books and materials. The first scholarships are to be awarded to students graduating in 2012. Contact your local school districts or the Higher Education Coordinating Board for more information.
Students taking less than 6 credits per quarter eligible for State Need Grants
The legislature passed a bill (HB1179) during the 2007 session that gives students taking 3 to 5 credits per quarter, or the semester equivalent, eligibility for the State Need Grant program.
When financial need is calculated for less than half-time students, child support payments will be excluded from the calculation of the students’ income. Institutions are encouraged to provide students attending less than half-time with the same access to institutional financial assistance as is offered to students taking 6 or more credits.
Educational Opportunity Grant program
The Educational Opportunity Grant program provides $2,500 grants to encourage students in financial need to complete a bachelor’s degree. Students must be Washington residents, have already earned an associate of arts or sciences degree or junior class standing, and be “placebound.” To be considered placebound, students must be unable to continue their education – without the assistance of this grant – because of family or work commitments, health concerns, financial need or other similar factors.
Medical Coverage for all low-income children
The legislature provided eligibility for health-care coverage to an additional 38,000 uninsured children this session. Under this most recent addition, all children under age 19 in families with an annual household income up to about $50,000 for a family of four will qualify for government-subsidized health care.
Coverage is free for those under 200% of the federal poverty level. Families making 200 to 250 percent would pay a fee based on a sliding scale. This will make it easier for parents to enroll their children in existing health programs funded by state and federal money.
To learn more about eligibility and getting started – click here (sponsored by parenthelp123)
Or you may contact your local DSHS Children’s Administration Office for more information.
Interested in starting your own business?
BuRSST partners with the JumpStart Fund who provides micro-loans and business technical assistance to help refugees and other eligible newcomers start, strengthen or expand their micro-business.
Washington CASH provides business training courses, microcredit lending services from $500-$5,000, technical business assistance and peer support to enable low-income women, people with disabilities and new immigrants/refugees to start or expand self-employment ventures.
Build your assets!
Individual Development Accounts (IDAs) are matched savings accounts that enable low-income American families to save, build assets, and enter the financial mainstream. IDAs reward the monthly savings of working-poor families who are building towards purchasing an asset - most commonly buying their first home, paying for post-secondary education, or starting a small business. IDAs make it possible for low-income families to build the financial assets they need to achieve the American Dream.
The match incentive - similar to an employer match for 401(k) contributions - is provided through a variety of government and private sector sources. Organizations that operate IDA programs often couple the match incentive with financial literacy education, training to purchase their asset, and case management.
Click here for IDA Programs in Washington State
More questions about IDA’s? Click Here for an overview.
How much money is needed to cover family expenses and what public assistance are you eligible for?
To answer this question, click on the following link to go to the Self-Sufficiency Calculator courtesy of Workforce Development Council of King County.
Here are several ways the self-sufficiency calculator can help you:
- Determine what wage you need to earn to cover your expenses
- Test if a job you are considering will pay enough to meet your family's needs
- Determine if you are eligible for public benefits that can help with expenses like health care and food stamps
Learn about your MONEY!
If you need a loan from a payday lender, click on this link below before you go –
Thinking about a PayDay Loan? / ¿PENSANDO EN UN PRÉSTAMO DE DÍA DE PAGO?
Financial Literacy programs:
Jump Start
www.jumpstart.org/
Washington State Department of financial institutions
www.dfi.wa.gov/consumers/publications.htm
Students Financial Literacy programs:
Washington Mutual WaMOO for life
Washington Mutual Homebuyer Education
Junior Achievement
www.ja.org
National Endowment for Financial Literacy
www.nefe.org
National Council on Economic Education
www.ncee.net
Buying a new home or re-financing?
Here are some helpful websites to learn about how to buy a home, obtain and understand your credit report, and shop for a good loan:
HomeSight: www.homesightwa.org/
US Department of Housing & Development: www.hud.gov/buying/
Washington Home Ownership Center: www.choc-wa.org/
Washington State Department of Financial Institutions:
www.dfi.wa.gov/consumers/guide_home_loans.htm
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