Home
Focus Areas
About Us
In the fourth quarter of 2023, American household debt hit $17.5 trillion, according to the Federal Reserve's quarterly report on household debt and credit.
That's $212 billion more than in the third quarter of that year, and $50 billion more than in the fourth quarter of 2017, reports the Wall Street Journal.
And that's not counting credit card debt, which hit a new record of $1.13 trillion.
"This significant increase in debt underscores the critical need for resources and tools that can help address the root causes and effects of financial distress among American consumers," says Thomas Nitzsche, CEO of Money Management International, which has just launched a consumer distress dashboard.
Among its findings: The average amount of unsecured debt held by MMI's new clients is nearly $30,000, with an average monthly budget deficit of more than $300.
The demand for financial counseling has risen 54% over the same period last year.
New clients are now joining MMI's debt management plan at a rate not seen since 2012.
The average amount of student loan debt held by MMI's new clients is almost $20,000, with an average monthly budget deficit of more than $1,000. Read the Entire Article
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
Pedestrians in West Hartford, Conn., will soon be able to cross more easily thanks to a $697,000 state grant. The Hartford Courant reports that the money from the Department of Transportation's...more
"I tried to get half and half the other day. I had to walk four city blocks, just to get a quart of half and half so I could have coffee. So to even get food around here is difficult," David...more
More than 3,000 kids in Aberdeen, Scotland, sang "Northern Lights of Old Aberdeen" in front of thousands of family and friends over the weekend as part of the city's annual "Big Sing" event, the BBC...more
North Carolina's Cape Hatteras Secondary School has named its top students for the 2023-24 school term. Here are the top 10, per the Daily News: Zion Aiken: Math Iadette Harris: English IZander...more
Massachusetts' Fitchburg State University is adding two new majors this fallone in creative arts therapies and one in creative arts enterprisemaking it the first public institution in the state to...more
The New Brunswick Teachers Association is asking teachers and voters in the Canadian province to take a survey ahead of the next provincial election in September, the CBC reports. "We've seen a...more
Frances Bronet, president of New York's Pratt Institute, has been named chair of the Association of Independent Colleges of Art and Design, a group "dedicated to strengthening creative institutions,...more
The Oklahoma Arts Council has released its annual list of grant requests, and it's a doozy. This year's list includes a call for artists to "bring the arts to other statewide organizations," as...more
Northern Illinois University is looking for a full-time assistant coach for its men's basketball team, the Chicago Tribune reports. The ideal candidate will have at least three years' experience...more
When does 30 equal a million? When it's the Spring Dance marking the Center for Creative Education's 30th anniversary, the Palm Beach Post reports. The dinner dance took place March 4 at Club...more
Social Entrepreneurship
Spotlight
Halcyon Incubator Selects Inaugural Class of Fellows
Washington, D.C. based incubator for social entrepreneurs, Halcyon Incubator, has selected seven ventures to move into the newly renovated Halcyon House in September for its inaugural class of fellows.
