Individual Development Account
Matched-Savings Program

An Individual Development Account (IDA) is a matched savings account from which funds may be withdrawn only for a specified purpose.
Initiatives In Action Watch DSS and Southern University Representatives discuss the IDA program on Louisiana Public Broadcasting's "Louisiana: The State We're In" on July 24, 2009.                                                  << View Video	Initiatives In Action Lakeshia Robertson (far right) and her three children pose outside their East Baton Rouge Parish home. Mrs. Robertson was able to purchase the home with  help from the Individual Development Account (IDA) Program.          << Read more about the Robertsons
Louisiana’s statewide IDA program provides a $4 match for every $1 that a participant saves up to $1,000 in contributions by the participant. For example, if a participant saves $1,000, the program matches these funds with $4,000, for a total of $5,000. Louisiana IDA participants may withdraw funds only for the purchase of a first home. Eligibility for the Louisiana IDA program is limited to persons who are employed, have at least one minor child, and meet the following income criteria: Household Size Annual Income Cannot Exceed  2  $29,140  3 $36,620  4 $44,100  5  $51,580  More than 5 $51,580 + $7,480 for each additional person
For more information on Louisiana’s IDA program, including instructions for enrolling, please visit the program's web site.