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The Economic
Mobility Fund
Empowering student borrowers toward durable economic mobility.
Program Completed (2025)
Our Program Partners
Financial Literacy Training Partner:
Career Skills Training Partner:
Portfolio Acquired from:
Program Funded by:
After discharging this debt my credit score rose more than 100 points to 705, and I have no debt aside from a car payment. This had a significant impact on my finances and will allow me to build an emergency fund for the future.
- Economic Mobility Fund Program Participant
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About the Economic
Mobility Fund
The Economic Mobility Fund ran from 2024 - 2025. Leveraging the provisions of the American Rescue Act of 2021, we acquired and paid the debts of nearly 3,000 borrowers with defaulted private student loans.
Borrowers were offered the opportunity to opt into two tracks focused on career development and financial counseling in partnership with AscentUP and the National Foundation for Credit Counseling (NFCC) respectively.
Achieved
engagement
from borrowers
100%
Onboarded
borrowers for
training services
34
Provided
borrowers
debt relief
~3,000
Purchased
debt portfolio with grant from CalEd Assist
~$16M
Purchased
debt portfolio with grant from CalEd Assist
~$16M
Provided
borrowers
debt relief
~3,000
Achieved
engagement
from borrowers
100%
Onboarded
borrowers for
training services
34
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