Innovation is the key to organizational success. There’s no surprise in that. And yet, failing can have dire consequences.
This makes it imperative for an organization to balance transformation, innovation, and creativity.
While the pandemic forced many changes, Inversant focused on strategic and opportunistic innovation. We fostered that innovation and creativity through experiential learning.
Today I share that evolution, along with our 3 key areas of focus. Learn how we continue to push ahead and the impact our work is making.
PROGRAM UPDATES
Match Distribution
At Inversant, we recognize the effort and planning it takes to save for college. We also know how difficult 2020 was for our families. Between COVID-19, lockdowns, and studying from home, saving for college was difficult.
We celebrate the time and care our families have put into their child’s education. To that end, we extended the date for our Savings Match distribution from May 31st to July 31st.
Once a final deposit is made, families can withdraw from their Inversant Savings Account at Metro Credit Union. They can also leave money in their account to be used later.
Our families use these match funds for college expenses like books, laptops, and other necessary items. We’re proud to have assisted over 130 families save for college during 2020.
Families from KIPP, Revere, Salem, and all over the greater Boston area saved, plus received a match distribution.
Inversant Scholarship
After piloting two scholarship programs in 2020, we’re working to refine and revise our approach to align our scholarship program with overall organizational goals to maximize impact.
To that end, we’ve taken our learnings and applied them to our upcoming 2021 Scholarship. Here’s a few of those key findings:
- 57% of applicants were independent students
- 28% of applicants were single parents
- 42% of applicants worked more than 16 hours a week, 18% worked full time
- 78% of applicants attended college full-time
- 60% of applicants contributed more than 30% of their household budget
ADVANCEMENT UPDATES
Save the Date
Calling all game lovers! Join us on July 22nd at 6:00 PM for the Inversant Game Night Extravaganza.
In 2021, we’re committed to supporting the new-traditional student. Come prepared to put your game hat on while opening your heart and mind to the fastest-growing segment of learners.
Make a donation, make a difference, and play your favorite old-school games!
RSVP NOW: Save the date for a virtual evening of laughter, learning, and lively entertainment.
Inversant Insights
Independent, working adults now outnumber high school graduates on US college and university campuses.
But how is higher education adjusting to support the “new traditional” learners?
Inversant CEO, Heidi Hancock was joined on Wednesday, May 5th by:
- Dr. Carlota Ocampo – Provost and Vice President of Academic Affairs and Associate Professor of Psychology, Trinity Washington University, Washington, DC
- Chris Ramirez – Pursuing an Associates Degree in Architectural Technology at Minneapolis Community and Technical College in Minneapolis, MN, a Father of two and self-taught metal furniture and fixtures designer and fabricator.
- Rosa Nin – Market Research and Vendor Engagement Coordinator at Novarica, a Management Consulting firm in Boston. And a recent Business Management graduate of Endicott College.
- Julia Riccardi – Julia joined the Army Reserve in 2010 and became a biomedical equipment specialist, servicing lab and medical equipment, and was deployed to Qatar and Afghanistan. She received a military service medal for her work promoting women leaders in Qatar. Julia was an Ada Comstock Scholar in Neuroscience at Smith College.
Together they discussed enrollment practices, administration, remote learning, and so much more.
Listen in to hear who these new traditional students are, how colleges and universities are meeting their specific needs, and what the future holds for this ever-growing group of students.
ORGANIZATION UPDATES
As we moved into 2021, the organization embraced a new playbook. Not only did it help determine where to invest time, but where the transformational opportunities lay hidden.
Today, we approach our work along three tracks.
- Transitioning from a college savings program to a college savings challenge. Through this, we’ll reach more families, helping them gain critical financial and advocacy skills.
- Providing college access training to low-income families. We equip families with the knowledge and skills they need to get to and through college.
- A Scholarship program modeled after our Cash for College Fund in 2020. We provide a need and risk-based Scholarship to support low-to-moderate income families eager to send their kids to college without the heavy burden of student loan debt.
We know that the biggest threat to public higher education in the United States is student debt. With $1.7 trillion in education loans, some 45 million Americans carry a crushing burden.
Especially low-to-moderate income, first-generation, and students of color. We continue our fight to democratize higher education, making it affordable and accessible to all.
Impact Relevance
This year, we embarked on a new approach to interpreting Inversant’s work and its outcomes. Inversant’s Impact/Relevance discussions kicked off, covering a different topic each session.
These include, but aren’t limited to:
- Educational savings account structures
- Duration of the current Inversant savings program
- Amount of match distribution for education
- Attendance at affiliated savings match program workshops have on savings behavior,
In May, we continue our series, discussing Scholarships and what we’ve learned through our beta Scholarship and Cash for College in 2020.
- The Inversant Scholarship was need and risk-based, providing $1000 to 10 student recipients. The nomination came from parents with over 100 families nominating their children.
- Cash for College enabled us to expand Inversant’s support to students beyond high school, fulfilling our primary objective of serving more low-mid income college-bound students. We were also able to address immediate higher education-related expenses for qualified Massachusetts resident students during COVID.
What we identified were non-traditional students as a significant potential market for Inversant. This gives us an opportunity to expand support beyond High School graduation and meet a growing market where they’re at.
As we look to the future, the 2021 Scholarship will remain need-based. We’ll maintain a focus on traditional students but lean heavily into non-traditional. As the largest growth segment of college-bound students, non-traditional carry unique needs. Inversant is here to meet and support those at each stage.
This new Scholarship will launch in the coming months. Be on the lookout for further details!
FINAL THOUGHTS
Thank you for sharing our passion to support families and students on the road to higher education.
2021 is an inspiring year of hope. Hope for a better tomorrow. Including better access, equity, and equality in higher education.
We’re driven by the work and encouraged by your continued support!