WILMINGTON — The application period for the new ASPIRE529 program, which provides $529 for foster youth aging out of the system to use for expenses related to continuing their education, closes July 31.

“Many young adults face a lot of financial obstacles as they head out into the ‘real world’ for the first time,” said Delaware State Treasurer Colleen Davis. “Those aging out of foster care often face additional struggles related to things like housing and health care. How to pay for education shouldn’t be an extra burden.”

Up to 20 awards of $529 are available on a first-come, first-served basis following review and approval of applications by the Office of the State Treasurer.

To be eligible, a student must:

• Be under age 26, and at least 14 years old and currently in Department of Services for Children, Youth & Their Families custody (foster care); or exited DSCYF custody to adoption or guardianship at the age of 16 or older; or aged out of foster care in Delaware at age 18.

• Complete a current-year Delaware Aspire529 application prior to the deadline of July 31.

• Be a Delaware resident.

• Be a U.S. citizen, permanent resident or approved refugee.

• Be an undergraduate student.

• Show proof of enrollment or attendance at an institution of higher learning or trade school and, if already attending, must be making satisfactory academic or vocational progress toward completion of that program. Proof of enrollment or attendance can be requested through the student’s school registrar or administrative offices.

In addition to the $529, recipients will receive two private financial coaching sessions thanks to a partnership with $Stand By Me.

The online application can be found at de.gov/aspire529.