An Individual Development Account , or IDA, assists Hoosiers with savings towards a major asset purchase. Qualified participants set savings goals and make regular savings deposits over the course of a three-year program. Once completed, the savings are used to make a major asset purchase. How does it work? For each dollar saved, up to $1,500 in three years or less, the State of Indiana matches with three dollars. This means that if a participant successfully saves $1,500, then the State will match it with $4,500, totaling a combined savings of $6,000. IDA participants may use their IDA personal savings and match funds for qualified asset purchases toward education and job training. Funds may pay for costs associated with attending: Accredited institution of higher education Vocational school Accredited or a licensed training program that may lead to employment for the IDA participant or his/her dependent Qualified expenses may include tuition (including registration fees), labora
Formerly Family Voices IN/About Special Kids. We provide answers and resources to families and professionals who are involved in the upbringing of children with complex medical conditions, mental health diagnoses and physical/intellectual disabilities.