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 10-12 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 Tuitiono Fees

Not acceptable:o Room & Boardo Student loanso Electronics

Eligibility• Oregon residency required

• Household income within program limits

• Household Net worth less than $20,000

• Household capacity to save

Number of Peoplein 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.

2014 Income Limits

Next Steps…

Contact Colleen Young to see if you qualify and ask for an

application!

Thank you!