Family self-sufficiency (FSS) is a HUD program which was established in 1990 by Section 554 of National Affordable Housing Act that encourages communities to develop local strategies to help assisted families obtain employment that will lead to economic independence and self-sufficiency. Public housing agencies (PHA's) work with welfare agencies, schools, business, and other local partners to develop a comprehensive program that gives participating FSS family members the skills and experience to enable them to obtain employment that pays a living wage.

 

The Escrow Account

The NBHA will establish an escrow account into which the NBHA will make monthly deposits on behalf of the family. The amount of the monthly escrow credit will be determined based on any increase in rent paid by the family because of increases in earned income. The NBHA will cease making credits to a family escrow account when the family has completed the Contract of Participation. The participant's ability to access FSS escrow funds would be contingent upon meeting FSS Program and Contract goals.

 

The free Family Self-Sufficiency Program will provide a helping hand to make it real. It's a type of savings account. Normally, if your income goes up, so does your rent. But if you're in FSS, there's a difference. You still have to pay the higher rent. But an amount equal to the increase is put into a savings account for you. This money comes from the U.S. Department of Housing and Urban Development. Your savings go into a bank account. You may be surprised how fast it can grow. For example, if you get a job and your rent rises by $75 a month, then $75 a month is put into savings. Five years later, if you complete your Action Plan, you'll have $4,500. You can spend it however you wish. Or keep saving. FSS staff will explain the rest.