OPPORTUNITY PASSPORT®
Opening doors to independence.
What is Opportunity Passport®?
Opportunity Passport® is a financial education and matched savings program that:
- Teaches you skills to manage your money.
- Helps you start saving toward your goals
- Matches your money dollar-for-dollar on approved purchases that move you toward success.
Who is Opportunity Passport® for?
The program is specifically designed for young people who have been in foster care.
So if you live in Mississippi, are between the ages of 16 and 25, and have been in foster care in Mississippi for even one day after you turned 14, you can apply to join!
How do I join the program?
- First, complete the Keys to Your Financial Future training.
- Then, open a checking or savings account.
- Finally, submit your completed Opportunity Passport® application
Will you really match my money?
Absolutely! We’ll also help you get started saving with $150 of “seed money” when your application is approved.
Once you’re ready to make a qualifying purchase, Opportunity Passport® will cover half the cost—up to $3,000. You’re eligible for match dollars until you turn 26, and you can request several small matches or one big one.
What is a “qualifying purchase”?
To receive match dollars, your purchase has to support your education, employment, health, and/or long-term stability.
Some examples of qualifying purchases are: vehicles, college tuition and textbooks, housing deposits and first month’s rent, health care, and expenses related to starting a business.
I’m ready! Let’s get started.
Congratulations! We’re excited to help you on the path to long-term financial stability and success.
To find out when Keys to Your Financial Future trainings are available in your area, contact the program coordinator:
Cotina Brown
Opportunity Passport Coordinator
opp@firstplaceforyouth.org
601.460.4436
Jim Casey Youth Opportunities Initiative created the Opportunity Passport® and supports its implementation in Mississippi and other sites across the country.
We will begin enrolling new Opportunity Passport participants soon! Read on for more details.
FREQUENTLY ASKED QUESTIONS
To be eligible to participate in Opportunity Passport, you must:
- Be at least sixteen, but have not yet turned 26
- Have spent at least one day in foster care after your 14th birthday
- Live in Mississippi
- Commit to completing a 20-minute online survey twice per year, in April and October
An asset is something that you own that has value. The Opportunity Passport program has a set list of approved assets toward which we can contribute matching funds. Some examples include the purchase of a car, tuition for college, or a security deposit for an apartment.
Some examples of the types of expenses that Opportunity Passport does NOT provide matching funds for are month-to-month rent, clothing, cell phone and utility bills, or other types of recurring costs.
The Opportunity Passport program provides a dollar-for-dollar match on the money that you save toward the purchase of an asset. Here’s an example:
You’ve been saving up to to buy a car and now you have $2,500 in your savings or checking account that you want to use toward a down payment. The Opportunity Passport program will “match” your money and provide you with another $2,500, giving you a total of $5,000 to use on the down payment.
The Guide to Opportunity Passport lists all of the types of assets that we match for in each of the following categories: Vehicles, Credit Building, Housing, Health, Micro-Enterprise, and Education. It also provides some examples of things that we do not match toward and the documentation we will require to match you for each of the different types of assets.
No. You must have either a checking or savings account at a bank or credit union in order to participate in the Opportunity Passport program. If you don’t have an account already, you will learn more about how to open one at the Opportunity Passport training.
Note: If you were already a participant in Opportunity Passport before 2018, you may still be able to participate in the program without a bank account. Please get in touch with the program coordinator.
The Guide to Opportunity Passport lists all of the types of assets that we match for in each of the following categories: Vehicles, Credit Building, Housing, Health, Micro-Enterprise, and Education. It also provides some examples of things that we do not match toward and the documentation we will require to match you for each of the different types of assets.
No. You can match multiple times up to a total of $3,000 while you’re in the program. There is no amount too small to match. As an example, you could match $300 toward the security deposit on an apartment, then you could continue to save for a couple years and match $2,000 toward the down payment on a car. Then, later, you could match the remaining $700 toward tuition.
Yes! You are welcome to match more than once for an asset from the same category. For example, sometimes young people match for multiple semesters of tuition, different medical expenses, or new apartment deposits if they move.
Step 1
Double-Check that Your Purchase Qualifies for MatchingContact the Opportunity Passport Coordinator to make sure that the item you want to purchase is on the list of approved assets. We cannot match for purchases that are not on the list of approved assets.
Step 2
Gather Required DocumentsThe Opportunity Passport Coordinator will let you know what documents you will need to submit in order to have your money matched for the type of asset you want to purchase. For example, before we match your money toward a security deposit on an apartment, we would need a copy of a completed lease agreement and a copy of your bank statement.
Step 3
Submit Documentation and Purchase RequestSubmit all of the required documentation to the program coordinator by email or text. The program coordinator will let you know within 3 business days whether your request has been approved or if additional information is needed. After your request has been approved, it will take 7-10 business days to receive the matching check. The check will be made out to the “vendor,” which is the company or person that is selling you the asset.
Step 4
Make your purchase!Provide the vendor with the match check plus your half of the purchase amount.
Enjoy your purchase!
After you submit the required documentation, the program coordinator will let you know within 3 business days whether your request has been approved.
Then, it will take 7-10 days to receive the check for the match money. We can mail the check directly to you or to the vendor. The check will always be made out to the vendor.
You will take the survey as part of the process of enrolling in the Opportunity Passport program. Then, you will complete the survey every April and October as long as you continue to be active in the program.
The purpose of this survey is to learn more about participants, like you, who are using the Opportunity Passport™. The information will be used to see if the Opportunity Passport™ has made a difference to participants in the areas of permanence, education, employment, financial capability, housing, physical and mental health, youth engagement, and social capital. These results will help your community decide how to create opportunities for young people who have been involved in the foster care system.
Your information will be used by the Jim Casey Youth Opportunities Initiative to see if the Opportunity Passport™ program has made a difference in the lives of participants and to help create opportunities for other young people leaving foster care.
Every time you take the Opportunity Passport Survey, you will receive a $40 stipend. We can either deposit the funds directly into your savings or checking account or mail you a check. If you wish to receive a check by mail, confirm your current address with the Opportunity Passport Coordinator. You will receive your stipend within 2 weeks of completing the survey.
PARTNERS
