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Home > News > News Releases > News Release Archive 2011 > Federal Grants Awarded to Improve Financial Literacy for College Access and Success

 

Federal Grants Awarded to Improve Financial Literacy for College Access and Success

Archive

12/8/2011


 

Contact: Sandy Connolly, Director of Communications
Office of Higher Education
(651) 259-3902

Nancy Walters, Program Manager at the Office of Higher Education (OHE), is happy to announce that eight grants totaling $173,134 were awarded to six nonprofit organizations, a higher education institution, and a K-12 school district to support provision of information on financing options for postsecondary education and activities that promote financial literacy and debt management among low-income students and their families.

Grant funding comes from the College Access Challenge Grant Program, a federal program that seeks to increase the number of low-income students who are prepared to enter and succeed in postsecondary education.

"Financial literacy training is emerging as an effective way to help students prepare for and manage the high cost of college," said Walters. "These funded projects have the express purpose of providing junior and senior high students with knowledge and skills to make sound financial aid and other personal finance decisions."

The literacy training will focus on obtaining access to, persisting in, and completing postsecondary education. The program will solicit new proposals for funding during the summer of 2012, according to Walters.

Grant recipients for 2011-2012 are:

Hmong American PartnershipOne grant for $12,600
Minneapolis Urban LeagueOne grant for $33,851
St. Cloud Area School District 742One grant for $16,883
Minneapolis African Women's AssociationOne grant for $30,000
Admission PossibleOne grant for $20,000
Women's Initiative for Self Empowerment, Inc. (WISE)One grant for $20,000
Central Lakes CollegeOne grant for $21,630
Northfield Healthy Community InitiativeOne grant for $18,170

Below is the list of higher education projects funded under the Financial Literacy for College Access and Success Program. Program proposals are selected on a competitive basis by educational experts.

Project DescriptionGrant Amount
 
HAP Financial Literacy Program
Hmong American Partnership
$12,600
Minneapolis Urban League
Future Work$
$33,851
St. Cloud Area School District 742
St. Cloud Area Readiness Pipeline's Financial Literacy Project
$16,883
Minneapolis African Women's Association
African Girls College Attendance Program Financial Literacy Project
$30,000
Admission Possible
Admission Possible Twin Cities Financial Literacy Curriculum Enhancement
$20,000
Women's Initiative for Self Empowerment, Inc. (WISE)
Immigrant Girls Financial Literacy Program
$20,000
Central Lakes College
Money Management Skills
$21,630
Northfield Healthy Community Initiative
Rice County Collars and $ense
$18,170

For more information on the awards or projects, contact Nancy Walters at 651-259-3907, or by email at nancy.walters@state.mn.us.