The Office of Community Services (OCS) within the Administration for Children and Families (ACF) announces that competing applications will be accepted for grants to administer projects for the national Assets for Independence (AFI) of Individual Development Accounts (IDAs). The projects will provide IDAs and related services to individuals and families with low incomes.
A primary feature of each AFI project is that participants save earned income in an IDA to purchase a home, capitalize or expand a business for self-employment, or attend postsecondary education or training. Projects also ensure that participants have access to financial education training and coaching, including family budgeting, debt and credit counseling, using mainstream financial products, and accessing refundable tax credits.
As a condition of their federal AFI grant, grantees must provide non-federal funds to support their AFI project in an amount at least equal to the Federal AFI grant amount.
This is a standing announcement. For the next three Fiscal Years (2014, 2015, 2016), there will be multiple application due dates during each year.