Transportation is often a significant hurdle for young adults striving for independence and success. In Nebraska, several programs are dedicated to helping young people achieve their goals, and owning a reliable vehicle can be a game-changer. If you’re a young adult in Nebraska looking for assistance to purchase a car, you’re in the right place. This guide outlines key programs designed to provide financial support and resources to help you get on the road.
The Connected Youth Initiative (CYI) in Nebraska is a fantastic resource hub offering various programs aimed at boosting the financial well-being of young people. These initiatives recognize that stable transportation is crucial for education, employment, and stable housing. Let’s explore some programs that can directly assist you in getting a car.
Financial Assistance Programs for Vehicle Purchase
For young adults in Nebraska needing a vehicle, financial assistance programs can make car ownership a reality. Here are some notable options:
Opportunity Passport Program: Your Stepping Stone to Car Ownership
Dreaming of owning your own car? The Opportunity Passport Program, a key component of the Connected Youth Initiative and in partnership with the Jim Casey Youth Opportunities Initiative, is designed to turn those dreams into reality. This program offers financial education and asset development, specifically to help young people, known as Connected Youth, achieve significant goals like purchasing a vehicle.
The program starts with financial literacy training. Upon completing this course, you’ll receive an initial $100 to jumpstart your savings. As you save towards your car or other goals, the Opportunity Passport Program offers matched funds, potentially up to $6,000! This matched savings can significantly accelerate your car-buying journey.
Key Benefits for Aspiring Car Owners:
- Financial Education: Learn essential money management skills.
- Matched Savings: Receive up to $6,000 in matching funds to boost your car savings.
- Statewide Access: The program operates in every county across Nebraska.
How to Get Started: Connect with your community’s Central Navigator, your CYI Coach, or your caseworker to learn more and enroll in the Opportunity Passport Program.
Low Interest Youth Loan Program: Affordable Car Loans
Need a loan to buy a car but worried about high interest rates? The Low Interest Youth Loan Program in Nebraska provides an excellent solution. Financial partners throughout the state offer low-interest, low-risk loans—below 4%—specifically for young people receiving financial case management or CYI Coaching.
This program is not just about getting a loan; it’s about building a strong financial future. It provides an opportunity to:
- Build or Repair Credit: Responsible loan repayment helps improve your credit score.
- Learn Positive Financial Behaviors: Gain practical experience managing debt.
- Establish Financial Relationships: Connect with local financial institutions.
You can potentially secure a loan of up to $2,000 with a repayment term of up to 24 months. While these loans can be used for various needs, vehicle purchase and repair are explicitly included, making it a valuable resource for getting a car.
Eligibility and Access: Work with your CYI Coach to determine if this loan program is right for you. Your coach will provide support throughout the loan term, ensuring you have the guidance needed for successful repayment and financial growth.
Support Services Funds: Addressing Immediate Needs
While not directly for car purchase, Support Services Funds (formerly known as “Needs Based Funds”) can address immediate financial pressures that might hinder your ability to save for a car or maintain one. If unexpected expenses are derailing your budget, these funds offer unconditional emergency cash assistance.
How it Can Help with Car Ownership:
- Prevent Financial Emergencies: Funds can help with urgent needs like rent or utility bills, freeing up your budget for car savings or repairs.
- Work-Related Needs: If you need work boots or other job-related items to maintain employment that supports your car goal, these funds can assist.
Available to young people ages 14-26 through Central Navigation, Support Services Funds can be accessed quickly by contacting your local Central Navigator or CYI Coach.
Additional Resources and Support
Beyond these specific financial programs, remember that the Central Navigator and CYI Coaches are your primary points of contact for accessing all these services and more. They can provide personalized guidance, connect you with the right resources, and support you through the process of getting a car and achieving your broader goals.
To connect with a Central Navigator, simply text “HELP” to 402-226-5842 or 308-280-8383.
Getting a car can significantly improve your opportunities and independence. Nebraska’s Connected Youth Initiative offers a range of programs to support young adults in achieving this crucial step. Explore these programs, reach out to the resources available, and take the driver’s seat in your journey to success.
