Eligible Students: For every $40 you save, we will match your savings with $120!
Family Assets for Independence in MN – FAIM is an asset development program where households earning less than 200% of poverty, may enroll in a Financial Literacy class series at no cost and begin saving towards post-secondary education, small business start-up, or to become a first-time homebuyer. Enrollees may save $960 in a “dedicated” savings account, and their savings are matched at a 3:1 rate The 3:1 combined savings, ($2,880+$960) equals $3,840 which can be used towards approved purchases within your asset track. Participants may save their $960 over a 12-24 month period. If a participant reaches their first asset goal and is still income-eligible for the FAIM program, they may enroll to save towards a second goal.
For every $40 you save, we will match your savings with $120. You must have verifiable earned income to apply. Income limits at the time of application/enrollment are:
| Persons in Household | Max. Annual Gross (before tax) Income |
| 1 | $19,600 |
| 2 | $26,400 |
| 3 | $33,200 |
| 4 | $40,000 |
| 5 | $46,800 |
| 6 | $53,600 |
| 7 | $60,400 |
| 8 | $67,200 |
Any students interested, see Kerry Lurken in the Office of Scholarships and Financial Aid.
