Funding Partners Matter. We’re Thrilled to Announce the Lumina Foundation as Edquity’s Latest Funding Partner.
Three million students drop out of college every year due to a time sensitive financial crisis, and as has been demonstrated empirically time and time again (H/T Sara Goldrick-Rab and her team), basic needs insecurity is an epidemic for students across college campuses.
We know technology has never and will never solve structural poverty. Hard stop.
That said, we know that technology has a major role to play in the current environment in keeping students above water financially and making the existing support ecosystem far more meaningful for students. In doing so, we believe that technology (and particularly our technology at Edquity) has a transformative role to play in providing for more equitable postsecondary outcomes and supporting our most financially vulnerable college students, who unfortunately are disproportionately low-income students, college students of color, first-generation college students, adult learners, and LGBTQ students, in a manner that improves credential attainment and social mobility.
Our technology at Edquity is specifically geared to drive this impact. Beyond our shorter-term impact though, to see our big vision through — one that includes a more structurally equitable postsecondary system — we need the right partners who can not only ensure that our current solution maximizes impact for students but also help us be a positive force in advocating for and supporting the right types of structural change.
With all this in mind, I’m so unbelievably thrilled to announce that we’ve added Lumina Impact Ventures to our team as our latest funding partner. Without a doubt, the Lumina Foundation is the leading force in higher education driving holistic impact — research, policy efforts, and innovation — around the critical social justice and economic issue of how financial challenges beyond tuition derail the college dreams of far too many learners, particularly our financially vulnerable learners. As the leader in this space — and as patient capital — the Lumina Foundation is the perfect partner to ensure that Edquity continues to build the right solution for students and their colleges, engage the right partners and stakeholders, and, most importantly, maximize our impact in a way that is perfectly aligned to student need and student interest.
It’s easy to talk the talk. The Lumina Foundation will help us continue to walk the walk — and do so at scale.