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.
"Time-trap thinking seems logical," writes Lori Carrell in the Los Angeles Times, "but it's short-sighted: Degrees mean real earning power and career growth, and many students do work during...more
When Christa Hayes' kids shut down their public schools in 2020, the Montana math professor started hearing from parents seeking help for their children's schoolwork and wanting to find a way for...more
Kids who learn to play musical instruments are more likely to be successful later in life, according to a new survey out of Australia. The survey of 115 primary school teachers in South Australia...more
"We must constantly reinvent ourselves to align with the needs of the business community that supports us," Elva LeBlanc, chancellor of the Tarrant County College District in Fort Worth, Texas,...more
"What's so cool about manufacturing in Pennsylvania?" That's a question students across the state are asking after winning top honors in the "What's So Cool About Manufacturing" student video...more
"You never know what situation you may find yourself in, and VHA health care professionals know this all too well," reads a post on the Simulation Learning, Evaluation, Assessment, and Research...more
Sixth-graders at a Massachusetts school are turning trash found on the beach into art. Hull's Jacobs Elementary School is hosting a live viewing of students' work on Friday from 2pm to 3pm,...more
A Vietnam veteran from Alabama has won first place in a creative writing competition for his poem about his father's death from injuries in the war, and second place for his poem about his service...more
"Every story of redemption is a story of hope and struggle. Through our hardest times, we discover things about ourselves that we never knew." That was the introduction to The Redemption of...more
The People's Bank of China says it will start allowing people in China to use the country's new digital currency, the Digital Yuan, to buy goods and services starting next month, the BBC...more
Social Entrepreneurship
Spotlight
Celebrity Chef Jamie Oliver Backs Social Saturday
UK will be celebrating its first national celebration of social enterprises dubbed as Social Saturday. World famous celebrity chef Jamie Oliver, who founded the Fifteen restaurant chain.
