The Financial Self-Sufficiency program is a HUD program implemented to help provide families currently enrolled in the housing voucher program with the resources, tools, skills, opportunities and support that will lead to economic independence and self-sufficiency.
Participants are offered a financial incentive through the establishment of an escrow account into which monies are deposited each month from a portion of their rent contribution. Upon successful completion of the FSS Program, all funds accumulated in the participant’s escrow account are released to the participant.
It is not uncommon for a participant’s escrow account to accumulate a sizable amount of money that can then be used as the participant chooses, to purchase a new automobile, down payment of a home, establishing a college fund, etc.
Stella Salas entered the FSS program as a single parent with three children with a desire to achieve financial self-sufficiency but lacking the skills or education to change her circumstances. Her commitment to improving the lives of her children motivated her to enroll in college. After completing a one-year medical assistant program, she is now employed at a local urgent care clinic.
“My two older children now have an interest in college after high school,” Salas said.
LaShae Scott came to the program as a single parent lacking job skills. She also choose a path of college.
After graduating from Weatherford College and Texas Christian University, Ms. Scott was offered a full-time job with the company she interned for while at TCU and has now moved to Austin to assume her new employment roll, with the company covering the moving expenses.
During participation in FSS program, both single mothers faced serious challenges and were able to successfully overcome without becoming discouraged, by utilizing the referrals given to them.