FAIM - Family Assets for Independence in Minnesota

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Minnesota

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Applications

Eligibility for FAIM

Participants must:

  • Be at least 18 years of age
  • Have earned income at the time of enrollment
  • Be a resident of Minnesota at time of participation in FAIM
  • Have assets of $10,000 or less
  • Deposit savings from earned income
  • Have combined income at or below 200% of poverty (see table below)

Participant’s income and assets may increase after entrance into the FAIM program.

Annual Income at 200% of Poverty
 

Family Size

Annual Income

1

$20,420

2

$27,380

3

$34,340

4

$41,300

5

$48,260

6

$55,220

7

$62,180

8

$69,140

 

Total Hourly Wage Needed at 40 Hours Per Week,
52 Weeks Per Year

Family Size

Hourly Wage = 200% of Poverty

1

$  9.82

2

$13.16

3

$16.51

4

$19.86

5

$23.20

6

$26.55

7

$29.89

8

$33.24

 

 
 

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