This report, produced in collaboration with Lumina Foundation, offers design principles and best practice examples for state policymakers as they grapple with difficult decisions about funding colleges and universities and student aid now and into the future.
In 2022, the Bill & Melinda Gates Foundation made a $460 million, four-year commitment through its Economic Mobility and Opportunity Strategy to improve economic mobility for the 50 million people experiencing poverty in the U.S. — those earning at or below 200% of the federal poverty level which is an annual income of $29,160 for an individual or $60,000 for a family of four. As part of that commitment, the foundation is announcing over $100 million in new partnerships and investments being implemented across three strategy pillars: Making Lives Better Now, Creating and Sharing User-friendly Tools and Insights, and Bringing Together Partners Across Sectors. These investments continue the foundation’s efforts to improve job quality for workers earning low wages, help connect skilled workers who don’t have bachelor’s degrees with higher-wage jobs and employers in search of talent, remove barriers to safety net benefits for those seeking short-term economic stability in times of need while on their way to long-term economic security, and provide local leaders with evidence-based tools to improve economic mobility in their communities.
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