Why MYOI is important
For most of people, complete independence by age eighteen is a myth. Studies show that most young adults are financially dependent on their parents until their late 20’s. In addition, most young adults rely on their family for emotional support through out their life. Imagine if you were eighteen years old and had to independently navigate the world of adulthood including finding a place to live, paying bills, understanding banking and credit, understanding medical care and health insurance, trying to finish high school or learning the college application process. How would you have managed without the safety net of family or a supportive adult?
Based on recent data we know:
Read about the real life experiences, testimonials and written expressions of older youth from foster care all over Michigan in our Expressions Magazine. (include cover image)
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MYOI Quick Facts
Since its start, the Michigan Youth Opportunities Initiative (MYOI) has enrolled over 1,500 young people from foster care. The program has provided a combined total of 12,000 hours of financial literacy training to the participants. Currently, over 800 youth are enrolled in the program and comprise almost one-third of all Opportunity Passport ™ participants nationwide.
MYOI is one of 17 Jim Casey partner locations and is active in 34 sites comprised of 64 counties making it the largest expansion of any Jim Casey partner site.
MYOI has been able to give approximately 3,600 hours of training to youth aging out of foster care to help them attain skills for success. Since MYOI started enrolling youth in 2003, over 1,000 active participants have purchased 1,528 assets matching over $1.6 million dollars in matched asset purchases around the state of Michigan. Those asset purchases include deposit/rent for housing, transportation, education, medical expenses and more. The generous support of compassionate people and organizations has allowed MYOI to provide dollar for dollar matches to youth who participate.
Listen to MYOI’s Public Service Announcement: MYOI PSA, 2013