The need for the Alliance

The Alliance, which is growing out of the Higher Education Financial Wellness Summit, is responding to institutions' request for continued opportunities to advance programs that are targeted at improving student financial literacy and wellness. The Summit, which has doubled in size over six years, attracted 340 attendees from 175 institutions in 2019.

"There has never been a greater focus on student finances, from student loan debt to the role that student finances play in student success," said Phil Schuman, IU director of financial literacy and executive director of the alliance. "Institutions are increasingly looking for ways to support student financial wellness and the alliance will provide the premier opportunity for them to develop new programs, learn about best practices and contribute to this important national conversation."

Recent research by Trellis, a 501©3 non-profit focused on student finances, has provided insight into the need for such efforts on campus:

65%

of students say they worry about having enough money to pay for school.

55%

of students have run out of money three or more times in the past year.

50%

of students show signs of housing insecurity.

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