Aspire529 money addresses education related expenses

Delaware Treasurer Colleen Davis announced that Aspire 529, a program for youth in or aging out of the foster care system to help them pay for expenses related to college or vocational training, has made its 2023 awards.

This year, five individuals received $529 after applying for the program and completing personal financial coaching from trained, skilled professionals through a partnership with $tand By Me®.

“Providing financial help in these situations is only half of the solution,” Treasurer Davis said. “Helping these young men and women learn the proper way to handle the money is what gives it extra value.”

This year’s awardees, two from New Castle County and three from Kent, plan to use the money for expenses including transportation to school, supplies, housing, and childcare.

The Office of the State Treasurer, along with the Delaware Plans Management Board, created Aspire 529 in 2022 after considering the obstacles faced by many youths aging out of the foster care system. Statistics show that only approximately 20% of foster youth who graduate high school hope to attend college, and just 3% earn a college degree.

“I am grateful to the Plans Management Board for authorizing the funds for the program,” Davis said. “Anything we can do to make higher education more accessible is important to do. Providing a bit of relief with paying for things like books, transportation, or even childcare could be the deciding factor for many considering continuing their schooling.”

The Aspire 529 Program will open its next round of funding in June of 2024.

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