Individual Development Accounts (IDAs) : Background on Federal Grant Programs to Help Low-Income Families Save

Author / Creator

Library of Congress. Congressional Research Service

Available as

Online

Summary

Describes individual development account (IDA) programs, which are savings and investment accounts established to help low-income families and individuals save for specified purposes, such as educa...

Describes individual development account (IDA) programs, which are savings and investment accounts established to help low-income families and individuals save for specified purposes, such as education, purchase of a home, or to start a business. Discusses operation of IDAs, as funded by the Assets for Independence Act of 1998 and the Temporary Assistance for Needy Families program, created in the 1996 welfare reform law.

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