Legal Definitions - aging-out

Definition: When a foster child or minor ward reaches the age at which they are no longer legally entitled to care.

Usually, this happens when the child reaches the age of majority and becomes ineligible for foster care. However, some states allow an extension of eligibility up to age 21 if the child is still in school or cannot live independently, or if it is otherwise in the child's best interests to remain in foster care and the child consents.

For example, if a foster child turns 18 and is no longer eligible for foster care, they may have to leave their foster home and live on their own. However, if they are still in high school and need support, they may be able to stay in foster care until they graduate.

Related term:INDEPENDENT-LIVING PROGRAM

Example: AGIO

Definition: The premium paid for exchanging one type of money for another.

For example, if you exchange US dollars for Euros, you may have to pay a small fee or premium for the exchange. This fee is called an agio.