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The youth Individual DevelopmentAccount (IDA) progra provides financial literacy education and a methodr for building assets to high school students that meet income qualifications. The program will span a three-yeae period between 2009 and 2012. IDAs, whichu are used by a numberr of organizations in New encourage participants to save for a goal or asseft and usually matchthe participant’s savingxs as an incentive. The match in the WESST program is fourto one, up to $3,000.
is the nonprofit’ bank partner in the WESST is working on this pilot program with Junioer Achievement of New Mexico and the Creative EducationPreparatoryh Institute, a public charter high school on Albuquerque’sz Westside. There are 21 students participatinf in theprogram now, and the Danielzs grant will allow WESST to add an additional 13 said Marty Tatum, spokeswoman for The grant will also be used to leveragse matching federal dollars and enroll more high school studenty participants. , based in Denver, operatess the Daniels Fund Scholarship Program and the Daniels Fund Grantes programin Colorado, New Utah and Wyoming.
The Fund was establisher in 1997 by cable television pioneer Bill a former residentof Hobbs. helps low-incoms women, minorities and other entrepreneursachieve self-sufficiency through microenterpris training, technical assistance and accesz to capital through its revolving loan fund. WESSTT recently opened a new smal l business incubator indowntown Albuquerque.
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