CORE RISE

 

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How It Works

 

CORE RISE (Rewarding Increased Savings for Education) is a need-based savings program, which offers students and parents up to $4,000 in scholarship money in exchange for saving $500 of income. Each RISE award recipient will receive a minimum of $2,000 for college tuition and expenses.

RISE participants also receive invaluable financial literacy training throughout the duration of their savings commitment through financial literacy classes. Your savings and our matching funds are delivered directly to the institution where you are enrolled full-time.

CORE RISE is one of many IDA (Individual Development Account) programs throughout the country. Our program is funded through a federal grant from the Assets for Independence (AFI) program, which is administered through the U.S. Department of Health and Human Services. 

RISE is part of a national effort to help families help themselves. According to recent research, a quarter of American households are "asset-poor," meaning the individuals and families have insufficient financial resources to support them at the poverty level for three months (during a suspension of income).

Applicants' household must be at or below 200% of the Federal Poverty Guidelines and have at least one source of earned income.

Assets For Independence (AFI) is a federal program that provides grants to organization such as CORE Scholars to implement and demonstrate an asset-based approach to poverty reduction in our communities. This strategy is rooted in the belief the accumulation of savings and long-term assets (e.g. education, home ownership or capitalization of a small business) allows for greater self-sufficiency as well as a more sustainability escape from poverty.

As a CORE RISE saver, your path towards rewarding increased savings for education consists of four steps:

1. Submit the RISE application and $25 application fee.

2.Enroll in a CORE Scholars sponsored Individual Development Account (IDA) through Wells Fargo.

3. Reach your savings goal of $500 over at least six months time, and receive an 8:1 match worth up to $4,000.

4. RISE and shine! Your savings + matching funds are delivered directly to your university/institution student account following 8 hours of financial literacy training.


That's $4,500 made payable to the student for post-secondary education tuition and expenses!

CLICK HERE TO APPLY

 

2016 Poverty Guidelines

U.S. Federal Poverty Guidelines Used to Determine Financial Eligibility for Certain Federal Programs

 

2016 POVERTY GUIDELINES FOR THE 48 CONTIGUOUS STATES
AND THE DISTRICT OF COLUMBIA

Persons in family/household

Poverty guideline

200% Poverty guideline

1

$11,880

$23,760

2

$16,020

$32,040

3

$20,160

$40,320

4

$24,300

$48,600

5

$28,440

$56,880

6

$32,580

$65,160

7

$36,730

$73,460

8

$40,890

$81,780

For families/households with more than 8 persons, add $4,140 for each additional person.

 

Source: Calculations by Families USA based on data from the U.S. Department of Health and Human Services 

The poverty guidelines may be formally referenced as “the poverty guidelines updated periodically in the Federal Register by the U.S. Department of Health and Human Services under the authority of 42 U.S.C. 9902(2).”


 

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To print a copy of this brochure: CORE_RISE_BROCHURE.pdf

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