Grantees Tria and Anne with Last Mile Founder and CEO Ruthe Farmer.
Results were recently announced of the Detroit Area Talent Fund. The pilot program was created out of a multi-tiered partnership involving The Rocket Community Fund, Detroit Regional Chamber and Last Mile Education Fund.
The program was founded to address basic needs and gaps for low-income individuals pursuing higher education in Detroit. The pilot began with a $750,000 investment by the Rocket Community Fund.
The fund has allowed Detroit area residents to receive the needed support to pursue industry credential, certificates, associate degrees and bachelor’s degrees. This initiative is also helping to close graduation gaps well helping Detroit area residence up chain advancement in the current fields or new careers altogether. The fund allows qualified students obtained emergency financial assistance with a maximum of one $599 award per calendar year in an effort to help students deal with unexpected financial challenges.
“The Detroit Area Talent Fund is a reflection of our commitment to fostering sustainable career pathways for individuals across the Detroit area,” said Laura Grannemann, Executive Director of the Rocket Community Fund. “Everyone experiences unexpected expenses in school, but unanticipated bills should not prevent Detroit residents from getting the education and economic mobility opportunities they deserve.”
Last Mile Education Fund operated the Detroit Area Talent Fund, as it played a role in identifying students facing obstacles toward their educational endeavor and offered assistance to students to ensure student completion of their degree programs.
“It has been a privilege working with the Rocket Community Fund and the Detroit Regional Chamber to establish the Detroit Area Talent Fund,” said Ruthe Farmer, Founder and CEO of Last Mile Education Fund. “We believe when students can focus on academics and career preparation rather than mere survival, they are bound to achieve greater success.”
The pilot program ran from February through June. Key statistics from that four-month period include:
One of the key figures announced showed 2,120 applications received, and of those, 1,251 were approved. Among the approved applications, nearly 850 were Detroit residents. The average requested amount per applicant was $832, resulting in a total of $700,766 in approved funds.
More results from the pilot revealed 45% of applicants requested financial assistance for tuition or institution-related expenses, underlining the program’s commitment to supporting the cost of education. Other identified needs included rent/housing (22%), bills (17%), transportation (8%), food (4%) and devices (3%).
Building on the success of the pilot program, The Rocket Community Fund plans to collaborate with the Detroit Regional Chamber to identify additional resources to expand access to the Detroit Area Talent Fund.
“With our goal to boost our region’s educational achievements, we’ve learned that making it easier for people to pursue and finish their degree or certificate programs is the key. Removing barriers makes educational success much more attainable for everyone,” said Sandy Baruah, President and CEO of the Chamber. “We look forward to working with the Rocket Community Fund to elevate this work.”
The potential expansion of the program builds on the Chamber’s broader education and talent strategy, which is focused on increasing access, ensuring success, and growing talent to provide opportunity to all residents throughout the region.
About Post Author
