Community and Shelter Assistance Corporation: Develop affordable housing and facilities Manufactured housing cooperative developments Community Development Financial Institution MCSP and VIDA IDA Programs Who is CASA of Oregon?

What is the IDA Program? Matched Savings Earn money to help pay for college tuition! Get $5 match for every $1 you save! Learn about saving, money and how to plan for the future! Funding for MCSP comes from Oregon tax credits and the Assets for Independence Act (AFIA)

Grow your savings In three years, what does a 5:1 match look like? $25 -$45/mo. up to $1600 in saved = $4500-$8000 match Example: $25/month x 36 months = $900 individual savings $900 x $5 match =$4,500 matched savings Total $5,400 Earn up to $8000 in match funds to use towards tuition & fees (in addition to $1,600 of individual savings)

Savings Custodial savings accounts monitored by CASA of Oregon Make monthly deposits into your MCSP account Minimum of $25/month savings Save for up to 3 years Students participate and make deposits…not parents!

MCSP Requirements Commit to savings money monthly Meet with your IDA Specialist regularly Complete hours of financial education Develop a career and education plan and participate in 6- 8 hours of asset training Spend all funds within 6 months-1 year of high school completion (or reaching savings goal)

Uses of MCSP Funds Acceptable: o Tuition o Fees Not acceptable: o Room & Board o Student loans o Electronics

Eligibility Oregon residency required Household income within program limits Household Net worth less than $20,000 Household capacity to save

Number of People in Family/Household Yearly 1$34,000 2$38,850 3$43,700 4$48,550 5$55,820 6$63,940 7$72,060 8$80,180 For households/families with more than 8 members, add $8,040 for each additional person Income Limits

Next Steps… Contact Colleen Young to see if you qualify and ask for an application! Thank you!