Job Foundation Helps Students Achieve Financial Success
May 28, 2021
Generational poverty is defined as a family living in poverty for at least two generations. According to Cyd McHone, executive director of The Job Foundation, it almost always predicts someone’s ability to become financially secure. With its vision of all people achieving financial success, The Job Foundation works with students in the Waterloo Community School District to break the cycle as soon as they start elementary school, working through high school graduation. “We decided years ago that we needed to be a long-term program in these kids’ lives. They are in a position where their parents can’t teach them what they don’t know, and that’s why we’re a whole family approach.”
The program provides the students with financial resources in a bank account earned through school attendance, grades, and effort. They then teach them how to manage those dollars - how to save, spend responsibly, and give to charity - along with financial literacy. Each student also pairs with a volunteer mentor who helps guide them on their journey. To help support this aspect of The Job Foundation’s work, CFNEIA made a 2020 grant to support the financial stewardship mentoring program. Since 2010, The Job Foundation has received over $220,000 in grants from funds of the Foundation.
As COVID-19 began, the organization feared the worst but soon moved from that mindset to ensure students were well and helped their families find basic needs. Then they pivoted again to create online solutions to keep students engaged and successful. “The ultimate impact on our community is going to be financially secure and successful young people entering the workforce or going to local colleges,” said Cyd.
This story is part of our 2020 Impact Report.