The Family Self-Sufficiency Program (FSS) is a voluntary five-year employment and savings incentive program for Housing Assistance’s Section 8 housing voucher families who wish to become financially self-sufficient. If participants are seeking to enhance their education, career, or financial stability, this program could be a great fit!
How It Works
The FSS program will match our Section 8 housing voucher families with a case manager dedicated to assisting them in moving toward the life they want.
- Case management
- Detailed plan to reach goals – education, employment, financial
- Escrow savings account up to $25,000
- First time home-buyer bonus of $5,000 or the Savings Match Program, where for every $1 saved you can earn up to $3, if you purchase a home within two years of graduation.
The FSS Program assists families in saving by establishing an escrow account. As a household’s earned income and rent payments to the landlord increase, a portion of the increase will be saved in the escrow account. FSS is designed to help families reach personal and professional goals.
I would recommend this program to just about any living soul who is interested in bettering their knowledge about finances and budgeting, setting personal goals that will better their lives, and wants to put some serious thought into the dream of owning their own home.
Who is eligible?
Current Section 8 program participants.
What happens when you join FSS?
A case manager will develop a detailed plan to reach your education, employment, and financial goals. We’ll help you get the advice and referrals you need to achieve those goals. Coaching, resources, and workshops are provided to set you on a path toward increasing your family’s financial stability.
What kind of commitment do you need to make?
This varies with each client. We’ll give you the tools you need to take steps on the way to achieving your individual goals.
Can I keep my rental voucher while enrolled in this program?
Yes. You will not lose your rental voucher due to participation in the FSS program unless you choose to buy a house and give up your voucher.
What am I allowed to do with the escrow money when I graduate?
When you graduate from the FSS program, the money is yours to use however you choose.
Are there incentives if I buy a house?
Yes. In addition to receiving your escrow, you may also receive a savings match and an additional $5,000 homeownership bonus. Our Homeownership Track in the FSS program is for families who want to focus on home-buying. In addition to the basic FSS resources, this track offers homeownership workshops, presentations by real estate agents, community tours, and help with credit rebuilding to prepare you for qualifying for a high-quality mortgage.
What if I need to recertify my voucher during the program?
FSS participants are allowed unlimited recertifications so you can request rent adjustments as many times as you need while enrolled in the program.
Are there penalties if I don’t complete the program?
If a participant is unable to complete the program, there are no penalties.