HUD and Treasury Build on First Lady Melania Trump’s Fostering the Future Initiative

Agencies Commit to Equipping Foster Youth with Strong Financial Literacy Foundation

WASHINGTON – In accordance with President Donald J. Trump’s Executive Order (EO) on “Fostering the Future for American Children and Families,” First Lady Melania Trump today announced the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Treasury (Treasury) will hold roundtables with foster youth nationwide to inform new programs that strengthen financial literacy and stability.

President Trump Signs Executive Order on Foster Care System

“This Executive Order, ‘Fostering the Future for American Children and Families,’ gives me tremendous pride. It is both, empathetic and strategic. It will certainly be impactful. It aims to establish a comprehensive network connecting federal departments and agencies, private sector businesses, higher-learning institutions, and charitable organizations. This will create new educational and employment opportunities countrywide. Our faith-based organizations will continue playing a vital and consequential role,” said First Lady Melania Trump.

“Ensuring the economic prosperity of America’s future begins with our youth. I commend the First Lady for her vision to empower the foster care community. The President’s Executive Order is a nationwide commitment to uplift youth exiting foster care – from housing stability to career development,” said HUD Secretary Scott Turner. “Together, Treasury and HUD will diligently listen and forge new paths to help ensure America’s foster youth enter adulthood with a strong financial literacy foundation.”

“Treasury is focused on strengthening the financial foundation young Americans need to become independent and self-sufficient. Foster youth often face barriers that limit access to safe financial tools and reliable guidance. In support of the President’s Executive Order and the First Lady’s leadership on the issue, Treasury will work with HUD and our federal partners to expand opportunities that help foster youth navigate their journey to adulthood,” said Treasury Secretary Scott Bessent.

In accordance with the EO on “Fostering the Future for American Children and Families,” HUD and Treasury commit to hosting a series of roundtables across the country to learn from youth transitioning from foster care about unique obstacles to financial literacy and opportunities to support them on a pathway to sustained financial well-being. An initial statement of findings from the roundtables will be made available in Spring 2026. HUD and Treasury will then establish policies and programs to help ensure that the transition process from foster care includes a strong financial literacy foundation.

HUD’s Foster Youth to Independence (FYI) program offers housing vouchers to local public housing authorities (PHAs) for young adults under the age of 25 who are in, or have recently left, the foster care system. Participants are also provided with supportive services to help them work toward their educational and career goals.

The U.S. Department of Health and Human Services (HHS) estimates that more than 20,000 young people age out of foster care each year. The National Center for Housing and Child Welfare (NCHCW) estimates that approximately 25 percent of these young people experience homelessness within four years of leaving foster care and an even higher share are precariously housed.