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Community and Shelter Assistance Corporation: Develop affordable housing and facilities Manufactured...
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Transcript of Community and Shelter Assistance Corporation: Develop affordable housing and facilities Manufactured...
![Page 1: Community and Shelter Assistance Corporation: Develop affordable housing and facilities Manufactured housing cooperative developments Community Development.](https://reader035.fdocuments.net/reader035/viewer/2022080922/56649e115503460f94afcc5b/html5/thumbnails/1.jpg)
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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?
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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)
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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)
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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!
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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)
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Uses of MCSP Funds
Acceptable:o Tuitiono Fees
Not acceptable:o Room & Boardo Student loanso Electronics
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Eligibility• Oregon residency required
• Household income within program limits
• Household Net worth less than $20,000
• Household capacity to save
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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
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Next Steps…
Contact Colleen Young to see if you qualify and ask for an
application!
Thank you!