About This Program
Target Population: Young people transitioning from foster care; specifically, young people 14-26 years old who have spent at least one day in foster care after their 14th birthday
For children/adolescents ages: 14 – 25
The Jim Casey Youth Opportunities Initiative’s Opportunity PassportTM helps young people improve their financial capability when transitioning from foster care. The Opportunity PassportTM includes financial education and support with establishing, maintaining, and growing a bank account; and, purchasing developmentally appropriate assets through matched savings opportunities. The financial resources assist young people meet their life goals with asset purchases such as vehicles, education, housing, health care, investment, credit building and microenterprise endeavors. Opportunity PassportTM participants complete a baseline survey at enrollment and a bi-annual survey for the duration of their participation in the program to measure progress.
The goals of the Opportunity PassportTM program are:
- Become financially capable
- Gain experience with the banking system
- Amass assets for education, housing, transportation, and other developmentally appropriate specified purchases
The essential elements of Opportunity PassportTM include:
- Young people are engaged in the design, delivery and continuous improvement of the program, and young people are paid a stipend for their participation in aspects of program implementation.
- Young people are provided financial education.
- Young people are assisted in opening a bank account.
- Upon completion of the first 3 of 7 modules of financial education, young people are provided a stipend as seed money for bank accounts.
- Young people have access to an adult who will support them through the program.
- Young people are provided asset specific training to support effective purchase and use of asset(s).
- Young people may also be provided financial coaching or counseling.
- Implementation and outcome data are collected from staff and young people on regular basis. Data is regularly analyzed by providers and young people in a continuous improvement process. Decisions are guided by these data.
Opportunity Passport directly provides services to children/adolescents and addresses the following:
- Young people between the ages of 14-26 who need financial education, experience with banking system, skills to save money and purchase asset(s), knowledge about maintaining assets, and connections to opportunities for employment, housing, education, social capital, health, permanence, and financial capability
The recommended intensity varies based on how and when financial education and asset training are delivered; whether financial coaching and/or counseling is delivered and other supports and resources young people may need to be connected to in order to effectively participate. There is outreach to young people to take bi-annual survey and attend social events that provide access to computers so young people can take the web-enabled survey.
There is no specified length of participation. Young people may be enrolled up to their 26th birthday. Young people may purchase assets up to the match limit of $3,000 yet reaching this limit does not require young person to exit.
This program is typically conducted in a(n):
- Community Daily Living Setting
- Community-based Agency / Organization / Provider
This program does not include a homework component.
Opportunity Passport has materials available in a language other than English:
For information on which materials are available in this language, please check on the program's website or contact the program representative (contact information is listed at the bottom of this page).
Resources Needed to Run Program
The typical resources for implementing the program are:
- Personnel-outreach to young people, establish relationships with bank(s), recruit financial coachers, teach financial education and asset trainings, and perform data management and analysis
- Space to run classes/training, meetings for young people, and social events where laptops are available to encourage young people to take surveys
Education and Training
Prerequisite/Minimum Provider Qualifications
There are no standard minimum qualifications.
Education and Training Resources
There is a manual that describes how to implement this program , and there is training available for this program.
- Leslie Gross
Training is obtained:
Informal telephone consultation and a variety of publications supporting young people transitioning from foster care are available.
Number of days/hours:
Informal telephone consultation available.
Relevant Published, Peer-Reviewed Research
Currently, there are no published, peer-reviewed research studies for Opportunity Passport.
Annie E. Casey Foundation. (2017). The economic well-being of youth transitioning from foster care. Opportunity Passport participant survey results show employment helps many thrive. Retrieved from https://www.aecf.org/m/resourcedoc/aecf-theeconomicwellbeingofyouth-2017.pdf
Jim Casey Youth Opportunities Initiative. (2014). Building financial capability for young people in foster care. Retrieved from http://www.aecf.org/m/resourcedoc/JCYOI-BuildingFinancialCapability-2014.pdf.
Peters, C, Sherraden, M., Kuchinski, AM (2012). Enduring assets: Findings from a study on the financial lives of young people transitioning from foster care. Retrieved from http://www.aecf.org/resources/enduring-assets
- Leslie Gross, JD
- Agency/Affiliation: Jim Casey Youth Opportunities Initiative
- Department: Annie E. Casey Foundation
- Website: www.aecf.org/work/child-welfare/jim-casey-youth-opportunities-initiative/areas-of-expertise/opportunity-passport
- Phone: (410) 547-3696
Date Research Evidence Last Reviewed by CEBC: June 2016
Date Program Content Last Reviewed by Program Staff: May 2018
Date Program Originally Loaded onto CEBC: June 2016