Majoring in Debt: Why Student Loan Debt is Growing the Racial Wealth Gap and How Philanthropy Can Help
More than 44 million people in America have taken on student debt to pursue a post-secondary education. These borrowers collectively owe around $1.6 trillion in student loan debt. Borrowers exist in every community, but some are particularly vulnerable to its impact. Women hold two-thirds of all outstanding student debt and Black and Latinx borrowers disproportionately struggle with repayment. This webinar discussed the disparate impact of student loan debt on black and Latinx students and the following topics:
Prosperity Now Scorecard
The Prosperity Now Scorecard is a comprehensive resource featuring data on family financial health and policy recommendations to help put all U.S. households on a path to prosperity. The Scorecard equips advocates, policymakers and practitioners with national, state, and local data to jump-start a conversation about solutions and policies that put households on stronger financial footing across five issue areas: Financial Assets & Income, Businesses & Jobs, Homeownership & Housing, Health Care and Education.
When a Job Is Not Enough: Employee Financial Wellness and the Role of Philanthropy
This report sheds light on the role employers and philanthropy can play in best promoting financial well-being for workers through the offering of Employee Financial Wellness Programs (EFWPs). Data suggests that EFWPs improve employees financial stability and help create a more productive work enviroment.
Better Borrowing: How State-Mandated Financial Education Drives College Financing Behaviour
As student loan reform continues to dominate national discourse, a NEFE-funded study shows that financial education in states with state-mandated personal finance graduation requirements causes students to make better decisions about how to pay for college. It increases applications for aid, federal aid taken, and grants — all while decreasing credit card balances. Put simply, financial education makes better borrowers. This study examines positive effects of state-mandated financial education graduation requirements. As of 2017, 25 states have implemented mandates for personal finance education prior to graduation.
