Financial worries are a potential hindrance to full engagement of staff and students in the workforce. Children, youth and families served by the nonprofit sector are counting on a fully engaged, authentic, centered, and innovative approach to receiving needed services and support. The Social Policy Institute is working to address barriers and strengthen the nonprofit sector workforce by helping organizations understand what their staff need to thrive.
Student debt for higher education is one example of a specific obstacle to full engagement, and recent findings from a survey by CalNonprofits shed light on its disproportionate impact on students of color seeking careers in the nonprofit sector. The survey, which involved over 1,200 respondents, reveals a troubling trend: those with the highest levels of student debt are predominantly people of color, who make up 60% of the respondents with the largest financial burdens. Additionally, more than half (50%) of all survey participants stated that their student debt is making it difficult for them to stay employed within the nonprofit sector.
This issue is particularly concerning as nonprofits play a crucial role in supporting communities, and a shortage of workers in this sector would have devastating effects on vulnerable populations. The survey results have prompted several recommendations for organizations to address these challenges, including
- Inviting input directly from employees to better understand their needs
- Introducing debt repayment assistance programs
- Launching awareness campaigns about the Public Service Loan Forgiveness (PSLF) program
- Streamlining the application process for the PSLF.
The Social Policy Institute (SPI) recognizes the urgency of these challenges and is committed to helping create solutions. To this end, SPI is preparing to launch “HOPE in the Workplace,” an initiative aimed at addressing the polycrisis facing both students and existing workers. This initiative seeks to foster positive workplace interactions and provide much-needed support to staff, especially in sectors critical to community well-being. Additional information will be shared about HOPE in the Workplace through our HOPE website page.
