Crawford-Sebastian Community Development Council, Inc.

Cash for College:

Individual Development Account (IDA)

C-SCDC Individual Development Account encourages residents of Crawford or Sebastian County to become a “saver”. This program helps by teaching the client how to manage money and the importance of saving. By saving $500 we will match a college student with an additional $2,000. The student must interview with our IDA Specialist at C-SCDC, open a savings account at a member bank and attend one 8-hour Financial Fitness class (unless the student has already attended a finance class at the University). IDA savings are not counted as income, resources or assets for any State, Municipal or Federal programs that base eligibility on need. DEADLINE TO APPLY IS JANUARY 30, 2016

What is required?

To be eligible the student household must be below 200% poverty level as shown below:

# of people in household Income Limit
1 $23,340
2 $31,460
3 $39,580
4 $47,700
5 $55,820
6 $63,940
7 $72,060
8 $80,180

Must live in Sebastian or Crawford Counties.
Student must not have more than $10,000 in assets.
Student must receive non-federal scholarship funds equivalent to the match dollars. (AR Challenge or other) Pell grants are not eligible sources.
Have already spoken with a Financial Aid Advisor.
Must attend one Financial Fitness Class with CSCDC or equivalent course at the University.
To apply, call 479-785-2303 to make an appointment and fill out application.
After meeting with IDA Case Manager must have IDA bank account opened within 14 days of appointment.
Must save monthly from time of account opening until goal savings amount is met.

IDA Q&A

How much do I have to save?

How much will I receive if I complete my savings goal?

When should I start my IDA to pay for fall or spring semester?

How can I spend my money?

How many times can I use the IDA to pay for my college education?

How will I receive the money to pay for what I need?

How do I get started?

What do I need to bring for appointment?