United Way of Central Alabama’s Financial Stability Partnership initiative focuses on increasing financial stability and long-term economic independence for hard-working Alabama families. This program is part of the Assets for Independence, a federal grant program that enables qualifying participants to receive matched funds to apply towards a first time home, college expense, or expanding a small business.
UWCA is working with UAB to help students afford higher education. When qualifying college students participate in the Financial Stability Partnership program they open an Individual Development Account, a no-fee savings account, and begin to save their income each month which is matched 2:1. This earned money is then used for college-related expenses. For example, a student saving $500 each semester can turn his $500 savings into $1,500 to be used for tuition, books, fees, or the purchase of a computer.
To find out more information on the Financial Stability Program or to determine if you qualify, please visit www.uwca.org or contact DeForrest Brown at (205) 458-2056.