The U.S. Department of Housing and Urban Development (HUD) has announced that it will allocate over $128 million in funds to assist families in their journey towards economic independence. The 2023 Renewal and New Family Self Sufficiency (FSS) Program grants will be distributed among 835 Public Housing Agencies (PHAs) and Project Based Rental Assistance (PBRA) owners.

"Financial literacy, job training and educational opportunities are some of the resources the FSS program connects HUD-assisted families to so that they have the chance to find employment and build assets," said HUD Secretary Marcia L. Fudge. "HUD remains committed to working with our local partners to empower residents and promote economic justice for all Americans."

According to a news release from HUD, the FSS program is voluntarily offered to families who are receiving assistance from HUD. Participating families will receive guidance, referrals to services, and assistance in creating a family escrow savings account through the help of FSS program coordinators. The primary goal is to enhance financial stability among these families and reduce reliance on welfare assistance. Currently, the FSS program serves over 69,000 residents in public housing.

"Regardless of how much money one might make, where they live, whether or not they receive assistance, every person in this country deserves to have the sense of security for their families that comes with consistent saving," said Principal Deputy Assistant Secretary Richard Monocchio. Monocchio made the announcement about the HUD grants in Chicago, adding: "We are thrilled to offer the benefits of the FSS program to more participants than ever before."