Funds Awarded to Former Foster Youth

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.


Program to Help Foster Youth Pursue Higher Education Returns

After a successful launch in 2022, State Treasurer Colleen Davis, with the endorsement of the Delaware Plans Management Board, extended the ASPIRE529 pilot program and will once again offer financial assistance to youth in or aging out of the foster care system seeking higher education.

Awarded on a first-come first-served basis to qualified individuals, ASPIRE529 funds may be used towards costs associated with higher education including books and supplies, materials required for skills training, transportation, and child care.

“Individuals aging out of the foster care system face a number of obstacles as they begin their ‘adult lives,’ and furthering education shouldn’t be one of them,” Treasurer Davis said. “I am proud to offer ASPIRE529 awards in order to help these people take their next steps towards success.”

A total of up to 20 qualified applicants will be eligible to receive an award of $529. To be eligible for an award, a student must:

  • Be under age 26, and:
    • At least 14 years old and currently in Department of Services for Children, Youth, & Their Families (DSCYF) Custody (foster care); or
    • Exited DSCYF Custody to adoption or guardianship at the age of 16 years or older; or
    • Aged out of foster care in Delaware at age 18.
  • Complete a current-year Delaware Aspire529 application prior to the deadline. (June 30th)
  • Be a Delaware resident.
  • Be a U.S. citizen, permanent resident, or approved refugee.
  • Be an undergraduate student.
  • Show proof of enrollment or attendance at an institution of higher learning or trade school, AND if already attending, must be making satisfactory academic or vocational progress toward completion of that program. Proof of enrollment or attendance can be requested through your school’s registrar or administrative offices.

The application period runs from June 1, 2023, until June 30, 2023. Winners will be notified by September 1, 2023. The online application can be found at de.gov/aspire529.

“The Aspire529 helps youth transitioning out of foster care in Delaware overcome financial barriers while achieving their education goals,” said Tamara Myles, Transitional & Independent Living Program Manager with DSCYF’s Division of Family Services. “This award will help many pay for education expenses and will afford them the opportunity to acquire less debt during their post-secondary education journey.”

“After serving them during their years in foster care, the youth need our support now more than ever,” said Caroline Jones, President, and Founder of Kind to Kids Foundation. “We need to work hard to break down any barriers that can stand in the way of the success of these vulnerable young adults.”

In addition to $529, awardees will also receive valuable financial literacy education from $tand By Me®, a financial coaching program partnership of the State of Delaware and the United Way.

“Becoming educated on how to handle money is just as valuable as the education this money will help provide,” said Valerie Cannon, Senior Social Service Administrator in the Division of Social Services. “We commend Treasurer Davis and the Plans Management Board for including a financial literacy component to ASPIRE529 and are proud they chose Stand By Me to provide the lessons.”


Former Foster Youth Get Help to Further Education

Aspire529 provides money and financial training

State Treasurer Colleen Davis has announced the distribution of the inaugural Aspire529 awards. Aspire 529 provides $529 for foster youth aging out of the system to use for expenses related to continuing their education.

“Aging out of foster care presents many obstacles for young adults, with financial concerns often topping the list,” said Treasurer Davis. “Aspire529 will help them break through some of those barriers.”

This year’s eight award winners, four from New Castle County, three from Kent County, and one from Sussex County said they would put the money toward the cost of tuition, books, transportation, supplies, and child care.

In addition to the money, winners also received education on how to handle it. Each recipient was required to complete two personal financial coaching sessions from trained, skilled professionals at $tand By Me®.

“Having money to spend is just half of the equation,” Treasurer Davis said, “the other part is knowing the best way to manage it. Our office, along with the Plans Management Board, which endorsed the program, wanted to make sure Aspire529 wasn’t merely a handout, but included the knowledge and skills to build responsible financial behavior.”

The collaborative effort that went into the creation and implementation of the Aspire529 program shows how Delaware can rally together to help those who need it most.

“Positive outcomes for young adults are achieved through collaboration with community partners, affordable education, and development of self-sufficiency skills,” said Sophia Elliott,
Transitional & Independent Living Program Manager with the Division of Family Services. “The Department of Services for Children, Youth, and Their Families is happy to partner with Treasurer Davis to pave the way for bright futures for youth who have experienced foster care in Delaware.”

“Kind to Kids Foundation believes that every child deserves a bright future,” said President and founder Caroline Jones. “While we provide education, advocacy, and guidance to children in foster care, we are thrilled to know the State Treasurer is helping these children we assist today have a brighter tomorrow.”

“The Aspire529 program is great for our youth who experience financial barriers that may cause issues or disruption with continuing their education,” said Aisha Stanford, Life Line’s Program Manager at West End Neighborhood House Inc., “both the money and the guidance will be integral parts of their financial future.”

More information can be found at de.gov/aspire529. Questions about the program can be sent to Treasury_Aspire529@delaware.gov


Money Still Available for Foster Youth to Pursue Higher Education

Ten days remain before application deadline

The application period for the new ASPIRE529 program, which provides $529 for foster youth aging out of the system to use for expenses related to continuing their education, closes July 31, 2022.

“Many young adults face a lot of financial obstacles as they head out into the ‘real world’ for the first time,” said Delaware State Treasurer Colleen Davis. “Those aging out of foster care often face additional struggles related to things like housing and health care. How to pay for education shouldn’t be an extra burden.”

Up to 20 awards of $529 are available on a first-come, first-served basis following review and approval of applications by the Office of the State Treasurer.

To be eligible for an award, a student must:

  • Be under age 26, and:
    • At least 14 years old and currently in Department of Services for Children, Youth, & Their Families (DSCYF) Custody (foster care); or
    • Exited DSCYF Custody to adoption or guardianship at the age of 16 years or older; or
    • Aged out of foster care in Delaware at age 18.
  • Complete a current-year Delaware Aspire529 application prior to the deadline. (July 31st)
  • Be a Delaware resident.
  • Be a U.S. citizen, permanent resident, or approved refugee.
  • Be an undergraduate student.
  • Show proof of enrollment or attendance at an institution of higher learning or trade school, AND if already attending, must be making satisfactory academic or vocational progress toward completion of that program. Proof of enrollment or attendance can be requested through your school’s registrar or administrative offices.

In addition to the $529, recipients will receive two private financial coaching sessions thanks to a partnership with $tand By Me®.

The online application can be found at de.gov/aspire529.


Program to Help Foster Youth Pursue Higher Education

$529 payments available to qualified applicants

Citing information showing nationwide, only about half of youth raised in foster care end up finishing high school, and less than 3% graduate from a four-year college, Delaware State Treasurer Colleen Davis announces the Aspire529 program. Aspire529 is a pilot program for youth in or aging out of the foster care system to help them pay for expenses related to college or vocational training.

“Fewer than one-third of those aging out of foster care last year with a high school diploma or GED in Delaware went on to enroll in college or trade school,” said Treasurer Davis. “With many facing financial obstacles like the cost of transportation and child care, the option of pursuing higher education is too often overlooked.”

The annual awards are available on a first-come, first-served basis with youth able to submit one application per academic year. Upon application submission, review, and approval by the Office of the State Treasurer, a total of up to 20 qualified applicants will be eligible to receive an award of $529. The money may be used towards accompanying costs associated with obtaining a degree in higher education such as paying for books and supplies, materials required for skills training, transportation costs and child care.

The application period runs from June 1, 2022, until July 31, 2022. Winners will be notified by September 1, 2022. The online application can be found here.

To be eligible for an award, a student must:

  • Be under age 26, and:
    • At least 14 years old and currently in Department of Services for Children, Youth, & Their Families (DSCYF) Custody (foster care); or
    • Exited DSCYF Custody to adoption or guardianship at the age of 16 years or older; or
    • Aged out of foster care in Delaware at age 18.
  • Complete a current-year Delaware Aspire529 application prior to the deadline. (July 31st)
  • Be a Delaware resident.
  • Be a U.S. citizen, permanent resident, or approved refugee.
  • Be an undergraduate student.
  • Show proof of enrollment or attendance at an institution of higher learning or trade school, AND if already attending, must be making satisfactory academic or vocational progress toward completion of that program. Proof of enrollment or attendance can be requested through your school’s registrar or administrative offices.

“Young adults aging out of foster care are met with many financial and logistical challenges when it comes to attending college and/or trade schools,” said Sophia Elliott, Transitional & Independent Living Program Manager with DSCYF’s Division of Family Services. “This award will help break down barriers and open up doors for youth to begin their post-secondary education journey. The Aspire529 award will help pave the way for youth to successfully achieve their education goals!”

The Office of the State Treasurer joined with $tand By Me® to provide a practical financial literacy course to complement the award. Each recipient will participate in two free, private, one-on-one financial coaching sessions from trained, skilled professionals.

“Stand By Me has partnered with several local organizations looking for ways to tackle the challenges of financial literacy to youth transitioning into adulthood,” said Shayne Lewis, Stand By Me Program Supervisor. “We are especially committed to improving financial literacy among youth facing increased financial challenges in the wake of the COVID-19 pandemic and resulting economic crisis.”

“The dollar amount of the award becomes much more valuable when paired with the financial education that winners will receive along with it,” Treasurer Davis said. “With the support of Aspire529, state agencies, and advocacy groups, we can help build a brighter future for foster youth as they set out on their own.”

Aspire529 provides support to youth in foster care who have overcome tremendous obstacles to obtain an education,” said Caroline Jones, President and Founder of Kind to Kids Foundation. “These awards will help our community’s most vulnerable youth achieve advanced education and become productive and successful members of our society. Thank you to State Treasurer Colleen Davis for providing this funding and making a positive impact in their lives.”

Questions about the Aspire529 program can be sent to Treasury_Aspire529@delaware.gov.