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Matched Savings Account (or IDA Program)
In collaboration with the Washington State Department of Community, Trade & Economic Development and United Way of King County, Washington Access Fund offers a Matched Savings Account, or Individual Development Account (IDA), program that allows participants to save up to $4,000 towards the purchase of assistive technology and receive 1:1 matching funds. The following table illustrates how participants can use this program to save towards their goals.
The assistive technology purchased through this program must be used for work-related activities or education/training intended to lead to work-related activities. This assistive technology can include but is not limited to the following: hearing aids, speech augmentation devices, modified vehicles, computers, or Braille devices. If you have questions about the eligibility of certain assistive devices for this program, email us at info@washingtonaccessfund.org. Participants in this program must be from low-income households and have net assets of less than $10,000 (not counting the values of their homes and one vehicle). Low-income households are defined as having less than 80% of the median family income for their county. To find these income guidelines, click on the following link: Income Guidelines (also available in downloadable Word and PDF formats). Current participants have until June of 2011 to save and receive matching funds. As an example, a deaf-blind person wants to save for the new Deaf-Blind Communicator, which costs around $8,000. Using the IDA program, he sets aside $100 each month beginning beginning in June 2008. By the completion of this program, he will have saved nearly $7,200 to use for the purchase of the Deaf-Blind Communicator! At this time, all slots are filled! However, we are building a waiting list. The waiting list will be used to fill new slots as they become available on a first come, first servd basis. It also will be used to demonstrate the need for this program to potential funders. To join the waiting list, please fill out a waitlist application. For more information on this program, please follow this link to our FAQ. If you have additional questions about this program or would like assistance in filling out an application, please do not hesitate to call or email us. Thank you and we look forward to working with you! |
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