Financial literacy isn’t just a life skill—it’s a critical foundation for college, career, and long-term economic mobility. Yet, only 34% of Americans can answer basic financial literacy questions (FINRA), and Black students are disproportionately impacted by educational inequity and lack of early financial education. According to the TIAA Institute, over 70% of Black young adults report never receiving formal financial literacy instruction before graduating high school.
This gap has consequences. Student loan debt disproportionately affects Black students, who are more likely to borrow and carry higher balances longer (Brookings Institute). For first-generation college students, financial stress is one of the leading reasons students pause or drop out of college. KR Scholars is changing that narrative.
Truist Partners with KR Scholars to Build Financial Confidence
KR Scholars is proud to announce a new grant from Truist that will expand hands-on financial literacy education within The HBCU Bridge Program—our college readiness initiative serving Richmond-area high school students. Thanks to Truist, we are helping students understand the cost of college before they step onto campus and giving them tools to build generational wealth—not generational debt.