Partnering to Ensure Student Financial Stability

Colleges and universities frequently find that students cite financial pressures as a significant obstacle in their progress toward college completion. This can particularly be a challenge for first-time-in-college (FTIC) students, students from traditionally underserved populations, and students of color. To help address this issue, many institutions invest in efforts to provide financial education training that is designed to help students complete their degree or college-level training, get jobs, improve their personal financial credit record, and make sound financial decisions in the future. In that context, and recognizing the critical role that a student’s financial stability plays in academic and career achievement, Achieving the Dream and OneMain Financial partnered in 2015 to create the Student Financial Empowerment Project (SFEP). Under the program, five community colleges—Alamo Colleges (TX), Bakersfield College (CA), Greenville Technical College (SC), St. Petersburg College (FL), and Triton College (IL)—received grants to help
them provide financial coaching, integrate financial literacy into student success courses, and deliver financial planning and debt management workshops. Initiatives under the SFEP were designed to help students from participating colleges become more financially secure and enhance their capacity to persist in college.

This brief highlights outcomes under the SFEP at three institutions—Alamo Colleges, Greenville Technical College, and St. Petersburg College—including data and analysis about the impact that the SFEP has had at each institution and how the institution plans to scale their program to reach more students.

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