Youth 17+ in MN, USA can sign up for Family Assets for Independence in Minnesota (FAIM) Program

Asian Media Access is qualified to sign youth up for the below FAIM program, so the youth (17 years old and up) who work, their earnings can be matched by State Funding and can triple their earnings.

If you are interested, please send an e-mail to amamedia@amamedia.org for more information, or check out the FAIM website – http://minnesotafaim.com for other agencies near you that offering the FAIM services.

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The Family Assets for Independence in Minnesota (FAIM) Program is a matched savings project to help Minnesota low wage earners build assets through;

 purchase of a home

 pursuit of a higher education

 or launching of a small business.

This is accomplished by FAIM participants placing up to $40 monthly savings from their earned income into Family Asset Accounts (savings accounts), which will be matched 3-1 upon completion of asset contracts.

Example:

Saving $40/month for 2 years = $ 960 (maximum allowable for matching)

Match of 3-1 = 2,880 (maximum allowable matching)

Total Asset Funds Available = $3,840  

The State Matching can not pay to individual, but paid to a school for tuition or educational related expenses, or business related expenses, or down payment for the house.

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