Working at the Jim Casey Youth Opportunities Initiative she helps foster children make the transition to adulthood.
Courtesy of the Jim Casey Youth Opportunities Initiative
A car is a possession many people probably take for granted.
But for many former foster children, it’s a necessity that’s often out of their reach, says Liz Squibb, the senior associate director for the Jim Casey Youth Opportunities Initiative.
“Our young people are saying to us, 'I needed the car to get to school, I needed the car to get to work,” Ms. Squibb says.
Saving for a big purchase, such as a car, isn't easy for teens and young adults. But as part of the Jim Casey Youth Opportunities Initiative, based in St. Louis, former foster children can sign up for the Opportunity Passport program, which allows them to open a matched savings account. For every dollar the youth deposits, the initiative matches it.
“We'll increase the amount of opportunity a young person has to save – to participate in mainstream banking,” Squibb says of the program.
Though a car was the most popular purchase in the Opportunity Passport program, participants also often use the funds to pay for rent or education costs, according to data published by the initiative in 2009.
While Opportunity Passport is one of its main programs, the Jim Casey Youth Opportunities Initiative addresses many other challenges facing former foster children. Founded in 2001 and named after the founder of United Parcel Service, the initiative has a long-term goal for every former foster child: that as they leave foster care they successfully move into adulthood.