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One of the most important assets is education.
From 2001, SEDI has offered over 3,609 low-income earners the chance
to boost their savings so that they could go back to school, obtain skills
training, or start a new small business. is
the largest project of its kind in the world and is delivered in partnership
with the Social Research and Demonstration Corporation (SRDC) and is funded
by Human Resources and Skills Development Canada (HRSDC).
The idea is simple. matches
the savings each participant puts aside in an Individual Development Account
(IDA), usually at a rate of $3 matched for every $1 saved to a maximum
of $1,500. The matched contribution puts low-income Canadians on
an equal footing with higher income Canadians who can afford to put away
more of their own money. As of May 2006, participants have saved
over $3.7 million and leveraged over $10 million in matched contributions.
For the goal of education, skills training, and education support,
participants have used over $6 million in matched credits. Recruitment
for the program is now complete.
To learn more about the success of the
project, access the recent report “Design
and Implementation of a Program to Help the Poor Save” which outlines
the detailed implementation of
and the lessons learned so far. Other information about ,
such as research reports and information kits, is also available under the
Resources and Publications part of the website.
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