There are no silver bullets in education. Challenges are intertwined because humans are complex. Viewing solutions myopically leads to unintended consequences in an seemingly endless game of wack-a-mole.
At Blackbullion we have long maintained that the greatest challenges in higher education can be positively impacted through the simple act of raising financial capability standards. Taking a whole institution approach to raising standards has a ripple effect across many strategic objectives.
The top reason for non-continuation, according to a study by the Bill & Melinda Gates Foundation is finance.
Recruitment and diversity initiatives are all negatively impacted by low financial savvy. As is attainment (through misjudging the earn:learn ration) and of course mental health is the starkest of vicious circles where financial anxiety impacts stress and on and on.
Financial education isn’t a silver bullet but its definitely a bronze one!
And so we wanted to understand what the higher education community thought. In a tide of uncertainty at the macro level we wanted to delve into the micro — after all, regardless of the political machinations students continue to transition into and out of higher education. Life goes on .
Over 20 institutions answered our call. They detailed what actions they were taking and today we’re happy to share our findings in what we believe to be the first report of its kind – “The State of Financial Capability” report.
This report is the first of its kind to shed light on what’s being done, what’s working and where challenges lie, to answer the question: what is the future of financial capability?
If your hardship process is a nightmare you might love the brand spanking new Funding Tool we are releasing in a couple of weeks! Drop me a note!
And if you just want to chat about financial education, or how broken student finance is or just generally shoot the breeze about edtech we’re always happy to chat!
We hope you find the inaugural report interesting and useful!