Education Asset

Education expenses for courses of instruction at an accredited post-secondary institution may include tuition, some fees, or required books obtained from the college bookstore.  Courses must be credited and receive a grade upon completion.  FAIM participants must complete 10 hours of career planning activities provided by a FAIM coach or through college admissions/counselors.

To be eligible for FAIM, participants must:

  • Be at least 18 years of age

  • Be a resident of Minnesota (at time of enrollment and exit from FAIM)

  • Be a US citizen or eligible non-citizen

  • Have earned income to deposit into savings monthly

  • Have total assets of less than $10,000

  • Have combined gross household income at or below 200% of poverty (see below)

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

2020 Federal Poverty Guideline