Investment management organization BNY Mellon has announced that its Powering Potential Pathways Program is making progress in helping youth who are aging out of foster care transition into adulthood.
Launched in 2010, the five-year, $6 million global workforce development initiative has seen a 42 percent increase in the number of young people enrolled in college; a 10 percent and 15 percent increase in employment among high school graduates and non-graduates; and a 13 percent drop in involvement in the juvenile justice system. To date, BNY Mellon has awarded more than $2 million in grants to its partner organizations.
These and other outcomes will be discussed this week at a summit in Pittsburgh designed to highlight the challenges that youth aging out of foster care face as well as best practices for providing them with educational and employment opportunities.
"Young people aging out of the child welfare system are more likely than their peers to face challenges in attaining education and securing employment and housing," said Leonard Burton, COO of Jim Casey Youth Opportunities Initiative. "Supporting programs to help these youth carries a cost, but not supporting them carries a greater cost, especially when one examines incarceration rates and welfare assistance. Investing in this population, as BNY Mellon has done through its Pathways Program, can and does create lasting impact and change lives."