This evaluation examined the Assets for Independence (AFI), the largest individual development account program administered by the Administration for Children and Families. Individual development accounts are personal savings accounts targeted to low-income persons that encourage participants to save for types of asset building, typically home purchase, post-secondary education, or small business start-up. Savings is encouraged by matching the deposits of participants, providing them with financial education, and other forms of support.
Preliminary evidence indicated that AFI participants were more likely to purchase a home, advance their education, or start a business than they would have been, absent the program.
Report Title: Assets for Independence Act Evaluation, Impact Study: Final Report http://www.acf.hhs.gov/programs/ocs/afi/AFI_Final_Impact_Report.pdf
Agency Sponsor: ACF-OCS, Office of Community Services
Federal Contact: James Gatz, 202-401-5284
Performer: Abt Associates Inc, Bethesda; Bethesda, MD
PIC ID: 8914