D., further discusses the social implications of foster care on the overall financial education and life-skill ability of aged out foster care children. According to his research, the average income of an aging-out youth is less than $6,000, which is drastically less than the federal poverty amount of $7,890. This author proposes that the only means of ending the cycle and allowing foster care children the opportunity to gain the necessary financial knowledge is through government funded job and life-skills programs that prepare these children to enter the real world.
Unfulfilled Promise: The Dimensions and Characterics of Philadelphia's Dropout Crises
This report by Ruth Neild and Robert Balfanz further emphasizes the need for high school retention rates among foster care children. According to this report, it can be predicted whether a student will drop out of high school, the primary institution where financial education is given, by their 8th grade year. The most common factor is receiving a failing grade in either math or English. With this knowledge, it is clear that those in the foster care system must be closely studied and interventions utilized to ensure they remain in school where this education can be achieved.
Preparing Our Kids for Education, Work and Life
According to this report by the Boston Foundation, the single most advantageous way to provide financial education for aging out children is through economic opportunities during their high school years. Specifically, a high school job provides the children with a taste of independence and a self-motivating means of learning responsibility and wise economic planning. The primary discouraging economic factors for aging out youth and the primary reason that many do not transition to college, is their need for transportation and housing, both of which can be unattainable without responsible financial planning on the part of the foster care home during high school.
Life After Foster Care
This article by Finessa Ferrell discusses government attempts to improve...
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