The previously mentioned 2021 Indicators Report also highlighted the connection between family wealth and postsecondary completion. In 2019, there was a 24 percentage-point gap in college continuation rates between high school graduates in the highest and lowest income quartiles. Students caring for dependents, Black students, and students from low-income households were less likely than others to complete credential programs. This is an alarming statistic considering 37 percent of Black families and 33 percent of Latino families had negative wealth in 2016—meaning they have more debt than assets.
Credential As You Go has acquired three phases of funding to date. Lumina Foundation funded Phase I, resulting in the Incremental Credential Framework for testing. The Institute of Education Sciences, U.S. Department of Education funds Phase II (Grant R305T210063), which focuses on rapid prototyping of and research on incremental credentials with a national campaign. An anonymous private donor fund at the Program on Skills, Credentials & Workforce Policy at George Washington University funds the development of the prototype Learn and Work Ecosystem Library. Walmart funds Phase III, which focuses on systems change for expansion and sustainability of incremental credentials. The opinions expressed are those of the authors and do not represent views of Lumina Foundation, Institute of Education Sciences, the U.S. Department of Education, Walmart, or George Washington University.
