OP - Here are some benefits that would be available to your niece if she did go for emancipation in terms of financial supports to help her complete her high school degree and then go onto college. It is not without its issues, however, so here is also a pretty good article to weigh the pros and cons at
http://www.coyotecommunications.com/stuff/emancipate.shtml
It is information that may be important for you and your husband to have if despite your best intentions things do not work out for niece and her child to remain in our home. And, of course, perhaps if her folks can see she is doing well, they will consider reconnecting with her. You two are awesome for taking her in, but just be wise enough to learn of the supports that are there because this teen will need structure and a routine to keep her going. And as you know, the day-to-day routine of a newborn is going to be a real awakening for her.
Here is some specific information on the financial supports which you can find in more detail with a Google search under Emancipated Minor and benefits
If I get welfare, will I have to go to school?
If you are between 16 and 19, unmarried and have not graduated from high school, you will probably have to return to school or enter a GED program in
order to receive public assistance.
I
f I get welfare, will I have to work?
Yes, unless one of these exceptions applies to you:
• You are under age 19 and in secondary, vocational
or technical school full time
• You are ill or disabled
• You have a child under 3 months old
• You are a caretaker of an ill or disabled member of
the household
• You have no available childcare
• You are more than 8 months pregnant
Will welfare support me if I go to college?
Generally, you may count up to 15 hours a week in an approved school program, such as a two-year college or vocational school, toward the work
requirement. Work /study and internships may satisfy the rest of your 35-hour work requirement. As a result of a recent lawsuit, it is now easier for single parents
on welfare to attend college.
attend college
What if I can’t afford to pay for childcare or transportation to attend school or work?
When welfare assigns you to work and school activities, you are entitled to money for transportation to comply with work assignments,
including transportation to and from childcare. You will also be given options for appropriate childcare if you cannot find your own.