News Summary
The recent expansion of Georgia’s foster care tax credit program is providing essential support to former foster youth pursuing higher education. The program now allows for increased taxpayer donations to organizations that assist young adults who have aged out of the foster care system, thus helping them overcome challenges in securing employment and accessing necessary resources. With a cap set at $20 million, this initiative aims to enhance the educational and career opportunities available to these individuals, bridging the gap caused by financial barriers.
Savannah, Georgia – The expansion of Georgia’s foster care tax credit program this spring is providing crucial support to former foster youth like Sydney Scott, who is pursuing a master’s degree in social work at Savannah State University. This legislative change allows for increased taxpayer donations to organizations that aid young adults who have aged out of the foster care system, enabling them to achieve their educational and career goals.
Each year, over 700 young adults age out of Georgia’s foster care system, often facing significant challenges in securing stable employment and support. The expansion of the tax credit aims to improve the situation for these individuals by increasing funding for essential services such as healthcare, housing, school supplies, and other necessities. The Georgia Legislature has set the cap on this tax credit at $20 million, allowing for unlimited donations after July 1, with plans to increase the cap to $30 million starting in 2026.
The foster care tax credit program is vital for young people like Sydney, who aged out of the state’s foster care system two years ago. With the heightened funding made available through taxpayer donations, organizations such as Fostering Success Act, Inc. (FSA) can assist youth like her in navigating the challenges of higher education. Many former foster youth face financial barriers that make it difficult for them to afford a college education. Nationally, studies indicate that approximately 55,000 young adults, including former foster youths, experience homelessness annually, contributing to an estimated societal cost of $89 billion.
As Sydney aims for her graduate degree, she highlights the importance of grants provided by these organizations. They have been a tremendous help, allowing her to concentrate on her academics without the added pressure of needing to work extensively to support herself during her studies. This support is significant as it bridges the gap between her educational ambitions and the financial realities faced by many young adults who lack the traditional family support systems.
The revenue generated through the foster care tax credit is allocated to state-approved organizations that provide these essential services to individuals aged 18-26 who have been in foster care. The intent of the program is not merely financial assistance but to help break the cycle of poverty that often ensnares former foster youth. It aims to level the playing field, giving them opportunities similar to those enjoyed by peers from supportive family backgrounds.
Recognizing the pressing needs of this vulnerable population, FSA urges Georgia residents and businesses of all income levels to utilize the foster care tax credit program to make a difference in the lives of these young adults. Contributions offer a dual benefit: supporting a worthy cause while also receiving a credit on state income taxes.
For Georgia residents interested in supporting the program and helping young adults like Sydney achieve their academic and career goals, more information about how to apply for the tax credit can be found on the FSA’s official website. This initiative represents a meaningful step towards better futures for former foster youth in Georgia, ensuring they have the resources they need to succeed in life.
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Additional Resources
- CBS News: Savannah Bananas Celebrate Foster Families
- Wikipedia: Foster Care
- 11Alive: Georgia Foster Care Housing Vouchers Investigation
- Google Search: Georgia Foster Care
- Savannah Now: Savannah CASA and Foster Care
- Encyclopedia Britannica: Foster Care
- WTOC: Bright House Opens in Savannah for Foster Care
- Google News: Foster Care
