California launches $7.25 million grant program to help student loan borrowers
SACRAMENTO, Calif. – The California Department of Financial Protection and Innovation (DFPI) announced the launch of the Student Loan Empowerment Project (SLE). The grant-based program is intended to enhance the economic security of student loan borrowers.
The SLE Project is a new, $7.25 million program that will provide grants to nonprofit organizations that deliver education, counseling, and legal assistance programs to Californians with student loans.
The grants will go to nonprofit organizations that submit the best proposals for how they will support the development and execution of at least one of two grant streams:
- Network Coordination grants will fund organizations providing coordination and support for the SLE Project network.
- Service Partner grants will fund community-based, individualized education and counseling or legal services to help borrowers manage their student loans.
Through the DFPI, the Project will focus on designing, developing, or offering, free of charge to student loan borrowers, classroom- or web-based financial education and empowerment content intended to help borrowers manage their student loans, access federal repayment and forgiveness benefits, or lower their debt balance.
Additionally, the project will provide individualized, free financial coaching or direct legal services to student loan borrowers.
All SLE Project applications must be submitted by October 18. The application for interested non-profits is available at dfpi.grantplatform.com.
More information on the SLE Project is on the DFPI website.
For questions, comments, or assistance, contact grants@dfpi.ca.gov, and for more resources on crafting a successful application can be found here.
