New funding to help families achieve financial aims
The Department of Housing and Urban Development (HUD) has announced $44 million in funding for two initiatives to equip families in HUD-assisted housing with the tools to achieve financial independence.
The funds will be distributed through two key programs: the Family Self-Sufficiency (FSS) Program and the Resident Opportunity and Self-Sufficiency (ROSS) Service Coordinator Program.
“At HUD, part of our work includes empowering people to navigate everyday challenges,” HUD acting secretary Adrianne Todman said in a media release. “The funding announced today provides a foundation for personal and financial growth that will help families achieve their families’ goals and attain economic justice.”
The FSS program is a voluntary initiative that offers coaching and resources to families, helping them increase their earned income and reduce their reliance on welfare assistance. The ROSS Service Coordinator program, on the other hand, provides funding for service coordinators who assess residents in public or Indian housing and coordinate available community resources to meet those needs.
Richard Monocchio, principal deputy assistant secretary for Public and Indian Housing, emphasized the importance of these programs, stating: “There’s nothing more inspiring than seeing individuals and families building for their future and the future of their children when they’re given the opportunity to achieve their dreams with help from programs like FSS and ROSS.”
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In addition to the $44 million in funding, HUD also announced a $40 million Notice of Funding Opportunity (NOFO) for the ROSS program in FY 2024. The three-year grant will support the hiring of service coordinators at eligible housing developments.
“ROSS and FSS funding play a pivotal role in helping families achieve economic independence and enhance their quality of life,” HUD’s release stated. “By offering comprehensive support services such as job training, financial literacy education, and health and wellness programs, these initiatives provide families with the tools they need to overcome barriers and pursue their goals.”
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