FYIT (Foster Youth in Transition) Funds in Michigan are a crucial financial support system for youth aging out of the foster care system (ages 14-23), helping them cover essential independent living expenses like housing deposits, car purchases, transportation, job training, and everyday costs not covered by other aid, focusing on self-sufficiency before they turn 23. These federal Chafee funds supplement other resources and help youth build life skills through financial literacy and Individual Development Accounts (IDAs) for asset building.
What FYIT Funds Cover
- Housing: Security deposits, first month's rent, utilities.
- Transportation: Car purchases, insurance, public transit passes, driver's education.
- Education/Career: SAT/ACT fees, test prep, graduation expenses, computers/laptops (up to $1500 lifetime), work-related tools, uniforms.
- Daily Living: Money management training, cooking, laundry, community resources.
- IDAs: Dollar-for-dollar match for savings to buy assets like a car or pay for rent/deposits.
Who is Eligible?
- Youth who were in Michigan foster care after their 14th birthday.
- Currently aged 14-20 (can receive support until 23).
- Youth who are transitioning out of care and need help becoming self-sufficient.
How it Works
- Contact: Reach out to your local county Department of Health and Human Services (DHHS) or a local coordinator for the Michigan Youth Opportunities Initiative (MYOI).
- Training: Requires attending orientation and financial literacy training.
- Usage: Funds cover needs not met by other sources, supplementing services to build independence.
