By Tiffany Davis, marketing intern, Personal Money Management Center
The Personal Money Management Center at the University of Utah wants to help you get a $4,500 grant to pay for school, start a business or buy your first home. Learn more on March 21 at 12 p.m. in the Union Ballroom.
More than 400 U students have entered into the program, and several will be available at the information session to discuss their experiences with the program. Those interested will be able to learn more and find out if they qualify.
These grants, called IDA grants, come from a program run by the Utah Individual Development Account Network, a community nonprofit organization that aims to empower individuals and families in financial management and help them build assets.
To qualify for an IDA grant, participants must take a free two-day financial education course, taught by the U’s Personal Money Management Center. The course teaches people about managing credit and debt, banking, budgeting and finding resources and tools to sustain financial well-being.
Once enrolled in the program, participants are required to save between $15 and $62.50 each month. The IDA grant matches your savings three-to-one for up to three years — a 300 percent return on investment. That money can then be used to purchase a home, invest in a business or to pay for school or disability technology used to obtain a job.
Those who are unable to attend the information session on March 21 can see if they qualify by completing a short quiz at faircredit.org.
The Personal Money Management Center will hold its free two-day financial education training course for the IDA program March 13-14 from 8 a.m.-12 p.m. To enter the IDA grant program, participants must attend both sessions. RSVP is required for the financial education course.