James November-December 2024 web - Flipbook - Page 67
Each year in Georgia nearly 700
young adults age out of the state’s foster care system. Many have struggled
to earn a high school diploma or GED.
They lack critical skills to pursue
a career or secondary education. But
those who do want to attend college
also have limited parental support.
There is no one to help them choose a
college or university, assist in covering
expenses or even navigate the application and financial aid process.
That’s why thanks to House Bill
424, Georgia’s newest tax credit
program is transforming the lives of
former foster youth including Georgia
Tech sophomore Jackyln Harris.
Harris, a biochemistry student
from Blue Ridge, is receiving support
to pay for her cellphone, textbooks,
transportation and some meals from
Fostering Success Act, Inc. (FSA)— the
largest non-profit working to direct tax
credit dollars to youth who have aged
out of foster care.
FSA grants make it possible for
Harris to pursue her dream of a career
in forensics. “Since I am a former foster
kid, I don’t have a lot of financial support. With this tax credit and help from
FSA, I am able to focus on school,” she
said. “Everything is just so expensive,
so this tax credit is crucial to helping
me stay in school.”
Launched in 2023, the foster care
tax credit program has already helped
hundreds of former foster youth take a
step forward toward completing their
studies. FSA is the largest non-profit
that educates taxpayers on how to
contribute and earn the dollar-for-dollar tax credit which provides grants to
former foster youth and organizations
that support them.
During FSA’s initial year in 2023, it
raised nearly $10 million in donations
to help young adults who age out of the
state foster care system so they could
continue their education and work
towards a worthwhile career path.
An FSA report on the impact of
the tax credit program through June
of 2024 found that FSA funds provided life coaches for 236 former foster
youth. They estimate at the current
enrollment rate, they will provide
approximately 411 by the end of this
year. Life coaches enable these former
foster youth to talk out their challenges including relationships, apply for
school, learn how to pay bills, navigate
financial and emotional setbacks and
learn other essential life skills.
In addition, the report found that
111 Georgia foster youth were enrolled
in post-secondary educational programs with that number expected to increase to 145 by year’s end. FSA provided total financial support of $563,000.
That number will rise to an estimated
$1,263,000 by the end of December.
FSA monies raised through the
foster care tax credit pay for school
tuition balances, healthcare, housing, school supplies, computers, and
transportation including rides, gas,
car repairs and automobile insurance.
This support removes barriers that
otherwise would prevent these young
people from completing their postsecondary education.
These are the types of costs that a
parent would usually incur. But former
foster youth rarely have supportive
and reliable adults in their lives as
they were removed from their parents’
homes due to neglect or abuse. The
tax credit— funded by Georgia taxpayers who in exchange get to reduce
their state income taxes—fills that
financial gap.
Data from numerous national
studies show that an estimated 55,000
young adults— especially former foster
kids— become homeless annually, costing society an estimated $89 billion
each year to pay for everything from
food stamps to prison costs. They have
no adults to guide them so they can
make wise decisions about their future
including pursuing an education.
Georgia’s foster care tax credit and
FSA are in their infancy. We are working hard to inform taxpayers about
this wonderful opportunity to reduce
their state income taxes while helping
others. It can be just as successful as
other well-intentioned tax credits such
as the Georgia education tax credit
that funds scholarships for children to
attend private schools or the hospital
tax credit that aids local communities
in funding rural hospitals.
What makes this tax credit unique
is that it can help stop the cycle of
poverty as former foster kids can forego
homelessness for a career path and
important job skills. We encourage all
Georgia taxpayers to take advantage
of this chance to reduce their state
income taxes while at the same time
making a difference in the lives of thousands of former Georgia foster kids.
To start the process to apply for
the tax credit go to: fosteringsuccessact.org/start-the-process/tax-credit.
Heidi Carr is the executive director of the Fostering
Success Act, Inc., a non-profit devoted to assisting
foster care youth who age out of foster care.
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