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Using the Family Self‐Sufficiency Program to Help Families with Housing Assistance Improve Earnings, Credit Score, and Debt Levels: A Quasi‐Experimental Analysis

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  • Judy Geyer
  • Lesley Freiman
  • Jeffrey Lubell
  • Micah Villarreal

Abstract

HUD's Family Self‐Sufficiency (FSS) program aims to help housing assistance recipients increase their earnings and build savings to make progress toward economic security. This study examines an asset‐building nonprofit's innovative financial coaching‐based approach to FSS that adds an additional focus on helping clients build assets and financial capability. We use a quasi‐experimental approach to estimate the program's impact on earnings and cash assistance receipt and analyze credit and debt outcomes against a benchmark group. The findings show substantial, significant gains in households' earnings and significant decreases in receipt of some cash benefits. Participants also saw increases in credit score, and success in paying down credit card and derogatory debt. Our results indicate that FSS can be an effective platform for helping participants in subsidized housing make real progress toward economic security and financial health.

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  • Judy Geyer & Lesley Freiman & Jeffrey Lubell & Micah Villarreal, 2019. "Using the Family Self‐Sufficiency Program to Help Families with Housing Assistance Improve Earnings, Credit Score, and Debt Levels: A Quasi‐Experimental Analysis," Journal of Consumer Affairs, Wiley Blackwell, vol. 53(3), pages 796-824, September.
    • Handle: RePEc:bla:jconsa:v:53:y:2019:i:3:p:796-824
    DOI: 10.1111/joca.12246
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    Cited by:

    1. Dang, Chao & Chen, Xinyang & Yu, Shengjie & Chen, Rongda & Yang, Yifan, 2022. "Credit ratings of Chinese households using factor scores and K-means clustering method," International Review of Economics & Finance, Elsevier, vol. 78(C), pages 309-320.

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