Financial problems remain the top reason most students drop out of a college or university. According to the SunTrust National Financial Confidence Poll, one in two millennials has student loans, and one in four owes $25,000 or more. The SunTrust Foundation seeks to alleviate students’ financial stress and focuses much of its giving on financial education and financial well-being initiatives.
In 2016, the SunTrust Foundation awarded Georgia State University a $2 million grant to create the SunTrust Student Financial Management Center, a program to help students address financial issues that are obstacles to earning their degrees. Georgia State also will develop a playbook on how to use predictive analytics to reach financially at-risk students to share with other educational institutions.
“SunTrust is dedicated to providing tools that help people reach financial confidence, including earning a college degree,” said David Fuller, SunTrust Foundation President. “Through our grant to Georgia State, we hope to help identify financially at-risk students and offer them valuable counseling so they’re better prepared to meet school expenses.”
Additionally, the Foundation gave $600,000 to Florida International University to create a Financial Wellness Clinic to help with college readiness, as well as $204,000 to Virginia Union University to create a financial education program for students, parents and the community.
These grants are part of the $100 million the Foundation has donated since 2008, making financial education a strong focus as it strives to advance financial well-being across its communities.
Congratulations SunTrust Banks, Inc.!