Financial Coaching Impact for Students in Oklahoma
GrantID: 15896
Grant Funding Amount Low: $10,000
Deadline: Ongoing
Grant Amount High: $20,000,000
Summary
Grant Overview
Financial Coaching for First-Generation College Students in Oklahoma
In Oklahoma, first-generation college students face a distinct set of challenges that can hinder their academic success and future career prospects. Among these, financial barriers play a critical role. According to a report from the Oklahoma State Regents for Higher Education, nearly 40% of first-generation students drop out after their first year, often due to financial hardships and a lack of understanding of the financial aid process.
Many Black youth in Oklahoma come from low-income backgrounds where familial resources for college funding are limited. They often lack mentorship and the guidance necessary to navigate the complexities of financial aid applications and budgeting for college expenses. This situation is compounded by the fact that many educational institutions in the state are not equipped to offer comprehensive financial literacy programs, leaving students to manage these pressures alone.
This grant aims to support the development of financial coaching programs tailored specifically for Black first-generation college students in Oklahoma. The initiative will provide personalized coaching on budgeting, saving, and navigating financial aid, ensuring that students have the tools they need to manage their finances effectively. Workshops will be led by experienced financial advisors who can address the specific challenges that Black youth face in their collegiate journeys.
The expected outcomes of this initiative include increased financial literacy rates among participants, leading to improved retention and graduation rates in Oklahoma's colleges and universities. This is particularly significant given that financial stability is a crucial factor in student success. By teaching essential skills in financial management, the program empowers students to make informed choices about their education and future careers, ultimately equipping them to break cycles of poverty that affect their families and communities.
As this initiative unfolds, it not only addresses immediate financial barriers but also fosters long-term economic resilience by equipping young Oklahomans with skills that will benefit them throughout their lives. With a focus on first-generation students, this program is distinct in its alignment with Oklahoma's specific educational landscape, ensuring that local demographics and needs are prioritized.
Eligible Regions
Interests
Eligible Requirements
