Assets for Independence (AFI), a Federal program administered by the Department of Health and Human Services (HHS) enables nonprofits and government agencies to implement and demonstrate an assets-based approach that improves the economic status of working individuals and families.
AFI projects help participants save earned income in special, matched savings accounts called Individual Development Accounts (IDAs). Every dollar in savings deposited into an IDA by participants is matched (from $1 to $8) by the AFI project. AFI project participant/families can use their IDA savings, including the matching funds, to achieve any of three objectives, one of which is paying some of the costs associated with higher education.
The following financial education services are examples of services provided by AFI-funded community organizations:
- Goal Setting;
- Managing and Paying Down Debt;
- Understanding Your Credit Score;
- Consumer Protection; and
- Banking and other Financial Services.
How to Receive Services/Assistance
To locate an AFI IDA program near you, please go to AFI Project Locator.
The AFI program does not award IDAs/matched savings directly to individuals.