Building Financial Literacy Capacity for Refugees in Tennessee
GrantID: 12098
Grant Funding Amount Low: Open
Deadline: Ongoing
Grant Amount High: Open
Summary
Grant Overview
Building Financial Literacy Among Refugees in Tennessee
Tennessee's diverse population includes a significant number of refugees who contribute to the state's cultural fabric and economic vitality. However, many face unique financial challenges stemming from language barriers, lack of familiarity with the U.S. financial system, and limited access to critical financial resources. According to the Tennessee Office for Refugees, a substantial proportion of the refugee population lacks basic financial literacy, which hinders their ability to achieve financial stability and independence.
Among the groups particularly affected are newly arrived families and individuals who may have left behind well-established financial systems in their home countries. For instance, refugees from countries such as Syria and Afghanistan often come with skills and education but lack knowledge of local banking practices, credit systems, and budgeting. This gap in financial knowledge directly impacts their ability to navigate everyday transactions, secure loans, or save for the future, making it imperative that targeted educational resources become available.
This funding initiative aims to offer tailored financial literacy classes specifically designed for refugee populations. By addressing the unique financial challenges they encounter, the program will equip individuals and families with essential skills in budgeting, saving, and understanding the local banking system. These classes will not only enhance immediate financial competencies but also promote long-term financial stability and economic self-sufficiency.
Furthermore, the implementation strategy will focus on community-based delivery models that utilize bilingual instructors and culturally relevant materials. Partnerships with local nonprofits and refugee support organizations will facilitate outreach and engagement, ensuring that classes are accessible and resonate with participants. As the program evolves, it will build a supportive network that empowers refugees to take charge of their financial futures. Ultimately, this initiative is aimed at fostering a more inclusive economy in Tennessee, benefitting both the refugee community and the state as a whole, as newly empowered individuals contribute to local economic growth and community cohesion.
Eligible Regions
Interests
Eligible Requirements
