The program, launched less than two months before federal student loan payments – which were paused during COVID – are set to begin again, aims to reduce the impact of student loan debt in marginalized communities. This debt contributes to the racial wealth gap and has long-term effects for financial, physical and mental health, according to a press release from the Foundation.
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“People are going to college for really specific reasons, and generally, it's for a better life and to [improve] their family and their future.
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They're signing up for student debt because that's the only way they can pay for school,” Lauren Thomas Priest, program officer for the Community Foundation for Greater Atlanta, said in the release. “We need to make sure we're not signing future students up for huge debt loads but we also need to address those of us who carry huge student debt loads now, because we're starting to see families with two or even three generations that hold student debt, and what that sets them up for is the opposite of generational wealth.”

Americans collectively owe an estimated $1.75 trillion in student loans. Georgians owe an average of $40,268.87 in student loans—higher than the national average.

[Across the state], Georgians owe $66 billion in student loans. College Park, one of the Foundation’s three neighborhoods in focus in metro Atlanta, ranks 16th in the nation for student debt burden, with graduates there owing nearly $29,000 in student debt, compared to the [expected] earnings for [people with] bachelor’s degrees - $41,830.
The application is open now and closes September 15. Students or parents who want to apply should first complete a profile and then access the application here.
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[People] who are interested in supporting the program should contact the Community Foundation for Greater Atlanta Philanthropy team.