September 2015 Newsletter
RAISE Texas News
Busy Fall 2015 for RAISE Texas and its Partners
RAISE Texas is working with partners to plan several webinars and implement/expand several pilot programs this fall. This is an exciting time as our work moves forward throughout Texas. We hope you will join us on our upcoming webinars to help organizations implement free online tax preparation services, expand financial coaching programs using new platforms and tools, and more. Stay tuned for more information about upcoming webinars and events in the next couple of weeks.Texas News
OCCC is Now Accepting Grant Applications for the 2016-2017 TFEE Funding Cycle
The Office of Consumer Credit Commissioner (OCCC) is now accepting grant applications for the 2016-2017 Texas Financial Education Endowment (TFEE) funding cycle. Applications will be accepted from organizations within the state of Texas that strive to increase and promote financial capability for adults and youth, and encourage personal financial education and responsibility. All applications are due September 30, 2015. Click here to read an article that provides in depth information about the TFEE grant program.National News and Resources
Understanding Student Loan Debt
New America’s Education Policy Program’s fourth brief in the 2015 College Decisions Survey series is now available. This fourth part of the series analyzes new survey data about what prospective college students know about going to college and financing college. Specifically, Part IV: Understanding Student Loan Debt focuses on the perspectives of prospective and recently-enrolled college students on taking out and repaying student loans. The brief looks at the amount students plan to borrow, the amount of their monthly payments and their repayment strategies to better understand what amounts thought is reasonable to borrow for an undergraduate education. Click here to read the brief and the possible policy changes to help students better understand their debt and repayment options.
Report Shows Importance of CTC and Need to Make This Tool More Effective
The Child Tax Credit (CTC) is a critical tool to help low- and middle-income families raise children but needs to be reformed to stay effective, according to a new report from the Center for American Progress. Harnessing the Child Tax Credit as a Tool to Invest in the Next Generation finds that the CTC has key limitations including the credit is not fully refundable, preventing it from reaching the lowest-income children, and its minimum earnings requirement excludes many families who experience job loss. The report offers several proposals to strengthen the CTC and to leverage the credit as a tool to invest in the next generation. Read the entire report here.
Paying Extra Toward Student Loans is Both Popular and Beneficial
A new blog post from the Squared Away Blog discusses the benefits of using extra money to pay down student debt. A new poll by Allstate showed that one-third of young adults indicated the importance of paying down their college or other debts with extra funds. The Bankrate.com student loan amortization calculator can show the benefits of paying the student loan debt faster when entering in an extra amount of money to pay each month into the box. This feature shows that paying extra towards college debt can pay off the debt in less time and save money on interest. Click here to read the blog.
Urban Institute Study on Delivering Early Information About College Financial Aid is Available
The Urban Institute released a research report on providing information on college financial aid to lower-income families with children in middle school. Research has shown that a lack of awareness of financial aid, a tendency to overestimate the price of college, and a limited understanding of the system lead low-income, first-generation college attendees and minority families to have misconceptions of college costs. This study, Delivering Early Information About College Financial Aid: Exploring the Options for Middle School Students, explores whether a clearer understanding of the availability of financial aid could alter families’ perceptions of the cost and allow more students to get the full benefits of the federal services. Click here to read the entire report.
Register for Assets & Opportunity Network’s Next Webinar
The Assets & Opportunity Network and the Taxpayer Opportunity Network are hosting a learning event on Thursday, September 24 from 2:00-3:30pm EDT. This learning event, Financial Capability at Tax Time: Savings and Other Strategies, will engage leading practitioners, researchers and experts in a discussion on where the field has been, what has been learned along the way and how you can access tools to support your efforts to integrate financial capability into tax time. Click here to register now.
Interested in Learning More About Assets for Independence Program? Join a Webinar this Month
The Assets for Independence (AFI) Program has several webinars scheduled this month for prospective AFI applicants.
- Understanding the AFI Program- Thursday, September 10, 2:00-3:00 pm ET - Register here
This webinar will introduce AFI program requirements, which gives applicants important context for their project design and application. It will also invite prospective applicants to think through how AFI IDAs fit their organizations, communities, and clients. This webinar will be most useful for first-time applicants and organizations with new staff. - Developing Resources and Partners- Wednesday, September 23, 2:00-3:00 pm ET - Register here
This webinar will offer considerations for developing partnerships for financial and other types of support. It will also review AFI’s non-federal cash requirements. This webinar will be helpful for any applicant looking to develop resources or partnerships. - Other Resources and Information available at the AFI Resource Page www.idaresources.acf.hhs.gov/
CFED Released Preliminary Findings of CFED’s Financial Security at Work Initiative
Corporation for Enterprise Development (CFED) recently released a four-part blog series on their preliminary findings of CFED’s Financial Security at Work Initiative. This initiative addresses the realities of low- and moderate-income workers’ financial challenges and look at the employer as a provider of services that lead to financial capability and stability. Click to read the blog series- Part 1, Part 2, Part 3, and Part 4.
