Funded by a grant from the Federal Financial Aid Advocacy Fund, administered through HCM Strategists, the grant is made possible by the Bill & Melinda Gates Foundation, which supports innovative, timely advocacy activities that engage new stakeholders and partners in federal policy-making for financial aid.
"The average student graduates with more than $30,000 in debt," said Johnny C. Taylor, Jr., President & CEO of the Thurgood Marshall College Fund. "TMCF has historically worked with our partners to provide financial literacy to college students; however, there aren't many discussions around student loan repayment. Through this campaign, we will be able to direct students and their parents to a resource that will answer their questions and provide guidance on how to responsibly navigate the student loan debt repayment process."
HBCUs disproportionately enroll low-income, first-generation and academically underprepared college students. Only 22% of HBCU graduates leave school with no debt, compared to nearly double the number of graduates at non-HBCUs. The campaign will help students customize a loan repayment plan by offering tools such as a loan repayment calculator. A major component of the Initiative is a student loan repayment advocacy and engagement conference in Washington DC, for 50 HBCU students this September.
"I believe my peers and I are guilty of thinking short-term," said Jerel Smith, a Mass Communications & Marketing major at Winston-Salem State University. "Looking back, I wish I prepared as much for my financial future as I did for my educational one."
For more information or to join the #intheblack coalition, visit www.getintheblack.org.
About Thurgood Marshall College Fund
The Thurgood Marshall College Fund (TMCF), established in 1987 is named for the U.S. Supreme Court's first African-American Justice. TMCF represents all Historically Black Colleges and Universities (HBCUs), and its member-schools include the 47 publicly-supported HBCUs. With TMCF member-schools educating 80% of all students attending HBCUs, TMCF helps students with a clear intention to succeed acquire a high-quality college education at an affordable cost. TMCF also efficiently connects high performing, world-ready students with top tier employment opportunities—access that students or employers might not have on their own. Through its scholarships and programs, TMCF plays a key role in preparing the leaders of tomorrow.
TMCF is a 501(c)(3) tax-exempt, charitable organization. For more information about TMCF and its initiatives, visit: www.tmcf.org.
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SOURCE Thurgood Marshall College Fund