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The Inclusive Economy

CFED Announces Partnership for College Completion

By Leigh Tivol on 06/22/2011 @ 01:55 PM

Tags: Children’s Savings Accounts, Economic Inclusion, Matched Savings

PCC logo

As our readers know, at the heart of our efforts to expand economic opportunity is a commitment to innovation, and especially to creative approaches that bring together a variety of our areas of advocacy. Today, we enthusiastically announced our newest endeavor in this realm – the launch of the Partnership for College Completion (PCC).

A platform built in close collaboration with our friends at KIPP and UNCF, PCC is the first initiative to combine four critical asset-building elements into one comprehensive strategy: college-preparatory education, incentivized savings accounts, financial education for parents and students, and scholarship assistance. Made possible with a generous $7.5 million grant from Citi and the Citi Foundation, PCC was launched with the goal of increasing the number of students – particularly first-generation students and those from low- and moderate-income families – who earn a college degree and subsequently bring their families into the financial mainstream.

Video: KIPP students and parents talk about the power of PCC.

PCC promises to be a critical linchpin in CFED’s efforts to expand economic opportunity for those Americans living at the margins of the mainstream economy. PCC is a major component of CFED’s Asset Building for Children (ABC) work, an initiative founded on the belief that it is possible and profitable, within our lifetime, for every American to start saving during the earliest years of their lives. Furthermore, PCC is such an important component of our asset-building strategy because it signals a commitment to the necessity for a comprehensive savings strategy. As our research has shown, giving students the means by which they can save, along with financial education and a clear emphasis on postsecondary education, is crucial in scaling college savings accounts and closing the college completion gap.

In short, we are beyond excited to play a leadership role in this unique and innovative journey, and we hope you will join us in spreading the word about the Partnership for College Completion. If you would like more information about this initiative, please visit www.partnershipforcollegecompletion.org.

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