The Job Foundation supports students in the program by providing monetary rewards for good grades while requiring their attendance at four yearly meetings. During these meetings, attitudes and behaviors about money are discussed in depth. The students are challenged and educated in four areas that we believe are necessary for their eventual financial independence: setting priorities (taking care of needs before purchasing wants), avoiding financial snares (such as payday loans, rent-to-own furniture, drugs, and gambling), writing and living on a personal budget, and conflict resolution skills for the work place. If the students do not attend these meetings, they are required to make the lessons up through writing an approved essay. Students who do not learn the material forfeit payment for that quarter’s grades.
Frequently Asked Questions
How are the children selected? Any child enrolled in the Waterloo Public School System and living in the Cunningham District may apply for the program. Selection is based upon financial need and past academic achievement. Parents and students are responsible for providing copies of report cards to The Job Foundation.
What are the children to do with their reward money? At the end of each quarter, when grades are given, money is awarded for their academic success. The students are required to save 50% of this money in a savings account that is held as a sub-account of The Job Foundation. The 50% that is saved is kept in the bank and cannot be withdrawn for any reason until the child’s graduation date from High School. In the event the youngster does not complete High School, the funds will return to The Job Foundation.
Can a child be kicked out of the program? Yes. Any child who is convicted of a crime will automatically be removed from the program. We suggest that children who want to participate in the program stay clear from all substances and activities that might make them look suspicious or fall into crime.
Why give money to kids? We believe that kids must have some of their own money to learn how to properly manage it. It is our hope that these students will make their mistakes while they are young and under our care. In short, we doubt they can learn to spend and save properly if they do not have any money to learn with. It also seems that the money provides the bait for getting these kids to the meetings. We believe the education and challenging of their beliefs is what really makes the program work. We believe that poverty is not so much a matter of lacking resources as it is its mismanagement. In this way, we hope to assist the students in their desire to live as financially independent adults.
Reward Schedule*
Grades 2-5:
