Helping kids in foster care possible through tax returns
Michigan residents have an opportunity to support young people in need and do it with only modest financial commitment.
The Fostering Futures Scholarship Fund is tied to state income tax returns, according to a Michigan Department of Treasury poress release. Residents filing their Michigan return can set aside $5, $10 or whatever amount to be placed in a fund for scholarships for kids who have been in foster care
The amount would be deducted from the return.
“A donation to the Fostering Futures Scholarship Trust Fund helps provide scholarships to young adults who have experienced foster care,” said Robin Lott, executive director of the Michigan Education Trust. “This scholarship assists with paying college expenses when no other assistance may be available.”
Scholarship awards are paid to Michigan degree-granting colleges or universities where eligible students are enrolled to assist with tuition, fees, room, board, books and supplies.
Approximately 13,500 children are in the Michigan foster care system at any given time. A growing number of our youth are reaching adult age while in foster care and have no resources to attend college when they age out of the system.
Through e-filing or paper filing, taxpayers must complete a Voluntary Contributions Schedule Form 4642 to participate.
To learn more about Michigan’s state income tax or to download forms — and we sincerely hope readers investigate — go to www.michigan.gov/incometax. The state Treasury Department is also on Twitter at @MITreasury.