WASHINGTON – Sen. Chuck Grassley of Iowa today welcomed an Iowan and others who shared their experiences on the critical need to help foster youth learn financial literacy.
Eddye Vanderkwaak of Ankeny, a Jim Casey Young Fellow, spoke at a roundtable sponsored by the Senate Caucus on Foster Youth and the Senate Caucus on Financial and Economic Literacy. She described what worked and didn’t work for her while in foster care and what could be done to improve financial literacy for foster youth going forward. More on her experience is available here.
Grassley is a founder and co-chairman of the Senate Caucus on Foster Youth, which has a special focus on drawing on experiences from foster youth to improve the system.
Grassley’s remarks at the roundtable follow.
Remarks of Sen. Chuck Grassley
Roundtable Discussion on Financial Literacy for Foster Youth
June 16, 2014
It’s nice to be with you today. It’s also nice to have people from all walks of life in this room -- from credit bureaus and other financial experts to executive branch officials to child welfare advocates who have been working hard to reform the system for children.
The idea for this roundtable came about after hearing from child welfare advocates about the need to include other groups in protecting foster youth. I’m reminded of Casey Family Program’s mission -- “to forge a nation where supportive communities nurture the safety, success and hope of every child.”
Child welfare advocates have to take their message beyond those who care for abused and neglected children. There are many challenges facing youth in the foster care system. Financial security is just one obstacle they face in having a healthy and successful future.
Many people are lost in today’s world of credit cards, credit scores, and credit reports. Everyday Americans struggle to keep up, to pay their bills on time and to make sure they take actions to safeguard their identity.
Many of us have learned good financial planning or decision making from family members. So, imagine the challenges foster youth face when they don’t have those support systems.
While I missed hearing the personal experiences presented by Eddye and Kaylia today, I’ve read their stories. I’m glad they’re with us today to shed light on the situation and make us understand a little bit about what foster youth are facing.
As Kaylia mentioned, repairing one’s identity is no small chore. Without good credit, it’s hard to find a job or an apartment. Without a job or housing, youth cannot climb the economic ladder or build a life of their own.
It’s unfortunate that youth like Kaylia also have to make hard decisions about filing police reports against their parents in order to clear their name and repair their credit. Children shouldn’t have to make such a decision.
I’m also glad that Eddye is here today. Eddye is from Iowa, and like many children, she entered the foster care system and then aged out without a forever family. Eddye has worked hard to build a good life for herself, and she’s giving back to the community and to children in Iowa. I commend her and appreciate her being here today.
When Senator Landrieu and I formed the Caucus on Foster Youth, we said we wanted youth to be a major part of it. We wanted to hear and learn from them because they are the true experts on the policies and practices that are in place.
Our caucus was also created to help foster better ideas and best practices. We want people to learn from youth and learn from experts. And, we want these ideas to be put into practice.
I hope today’s event will foster creative solutions. And, I hope it will forge relationships between two distinct groups -- the financial services industry and child welfare advocates. The expertise and capabilities in these fields should come together to help solve a key challenge that foster youth face.
So, thank you again for participating. A special thanks to the panelists for sharing their perspectives. Thank you for allowing me to say a few words, and thanks again for being here.
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