USA flag Tuesday, December 7, 2021

Assets for Independence Demonstration Program

$46,245,921

Total Assistance, FY 2008 to Present
Agency: ADMINISTRATION FOR CHILDREN AND FAMILIES, HEALTH AND HUMAN SERVICES, DEPARTMENT OF
Assistance Type: PROJECT GRANTS
Popular Name: AFI Program
CFDA Number
93.602

Objectives: No funds were appropriated for the Assets for Independence (AFI) program since federal fiscal year 2017, therefore, the Administration of Children and Families (ACF) will not be making new grant awards for the AFI program. The statutory purposes for the AFI program, as stated in Section 403 of the AFI Act, are to provide for the establishment of demonstration projects designed to determine: (1) the social, civic, psychological, and economic effects of providing to individuals and families with limited means an incentive to accumulate assets by saving a portion of their earned income; (2) the extent to which an asset-based policy that promotes saving for post-secondary education, homeownership, and microenterprise development may be used to enable individuals and families with limited means to increase their economic self-sufficiency; and (3) the extent to which an asset-based policy stabilizes and improves families and the community in which the families live.

 
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