Foster Success empowers Indiana’s older foster youth with basic needs support & financial education

Meeting basic needs & improving financial literacy can lower stress levels for population often facing PTSD

For many of Indiana’s 24,000 teens and young adults with lived experience in foster care, the road to self-sufficiency is filled with obstacles. PTSD and other mental health challenges often intersect with economic instability, making it difficult for young adults to find employment, maintain housing or meet their basic needs.

Foster Success is working tirelessly to change this.

Studies show that 30 percent of foster youth will experience PTSD symptoms, which is double the rate among U.S. war veterans. Financial concerns can exacerbate mental health struggles. The Foster Success Basic Needs program provides immediate assistance for those facing crises such as homelessness, transportation issues, or lack of access to healthcare.

Foster Success also helps young people develop financial literacy, teaching them how to save and manage their money effectively. Studies show that having a financial cushion can significantly improve both physical and mental health. Learning to save and take advantage of tools like compound interest can also set these teens and young adults on a path toward long-term financial stability.

The Opportunity Passport program provides extensive financial education and matches participants’ savings up to $3,500 for approved assets like cars, first month’s rent and deposit, a down payment on a house or creation of a small business.

“Foster Success also offers a Credit Build program that helps participants establish a credit history or improve their credit scores, while helping them save money,” Foster Success Senior Director of Impact and Programming Angel Crone said. “In addition, our Online Financial Modules give young people the chance to earn money while they learn about topics such as the importance of insurance and how to open a bank account, information which many Hoosiers learn from their parents.”

Last year, Foster Success supported more than 1,100 young people – 70 percent of whom reported being at or below the federal poverty level. By providing critical resources and assisting in overcoming financial challenges that lead to more stress, Foster Success is empowering the next generation to lead successful, independent lives.

More information about Foster Success can be found at fostersuccess.org.