For youth, economic well-being means more than just being able to land a job, it is about being securely on track for further opportunity. Consistent early access to education, training, and work experience is important for enabling opportunities and enhancing economic outcomes for young people. Truly achieving economic success also requires being connected to a whole system of supports, including mentors and strong relationships with adults, resources for meeting basic needs, and opportunities for youth to have a voice in framing their own future plans. In addition, we are learning more about what a barrier debt can be to financial stability and are exploring strategies to help young people avoid unnecessary debt and build a positive credit history.
The Maine Youth Transition Collaborative focuses on helping youth achieve economic success in several ways:
Opportunity Passport™ – a matched savings program that provides youth with financial capability training and matches for purchasing specific assets
Support for postsecondary education and training – helping youth enter and graduate from college and training programs
Support for career pathways – providing youth with work readiness training, assistance in securing and maintaining employment, and support for achieving their career goals
Building good credit and managing debt – building knowledge and awareness among adult partners who assist young people with developing financial capabilities