Student Financial Health

Higher education has long been a symbol of mobility and possibility in America, but spiraling costs are making it challenging for millions of Americans to pursue their academic goals. That’s why the Financial Health Network is focused on developing high-quality financial services and products that can help more students attain academic and financial success.

Understanding Student Financial Health

In our student financial health work to date, we have uncovered several key findings:

  • 84% of students experience financial stress

  • 75% are not sure they could come up with $1,000 if they needed it

  • For financially vulnerable students, academic and non-academic costs are inextricably intertwined

  • As consumers, students have unique financial health needs that require specific and customized solutions

Data Spotlight

Why Students' Financial Health Matters to Providers

A student’s financial health shapes their ability to achieve academic success, but national research and evidence confirm the link goes both ways. By helping more students receive a higher education, providers can put them on the path to greater financial health, including:

  • increased access to opportunity and employment
  • increased access to higher income (which eases planning and saving behaviors)
  • increased likelihood of general stability via employment opportunities

 

How We Can Help

Having worked closely with innovative community colleges, state universities, and city colleges, the Financial Health Network is well-positioned to support efforts in measuring and improving student financial health. Whether through our Factors for Assessing Student Financial Health framework, or through high-quality product design and delivery of interventions like emergency aid, the Financial Health Network is committed to improving student financial health.