Learners are given a fresh start through career development and financial wellness support
SAN DIEGO , Oct. 21, 2024 /PRNewswire/ — Goal Beyond Inc., a 501c(3) non-profit organization that is dedicated to assisting learners in achieving durable economic mobility, is proud to unveil the launch of its Beyond Restart program. Fellows (individuals who obtained certain private loans to pay for their education) are being granted relief from their defaulted private student loan debt so that Goal Beyond can help them sharpen their professional skills, obtain financial wellness support, and create a fresh start. Goal Beyond was awarded a $25,000 grant from California Education Assistance, Inc. (CalEdAssist ) to acquire the charged off debts and cancel all collections activity as part of a research pilot to test user engagement and track longitudinal career and economic outcomes.
As part of the program, Fellows will be notified of the amount of debt relief and offered the opportunity to opt into two tracks focused on career development and financial counseling in partnership with Ascen tUP and the National Foundation for Credit Counseling respectively. Goal Beyond will continue to track outcomes for up to 5 years to understand how these interventions impact career trajectories, credit scores, and income for Fellows. This groundbreaking initiative is aimed at providing learners with pathways for both professional and financial success – thus enabling durable economic growth.
The pilot will include a group of approximately 3,400 Fellows in the United States and leverage provisions of the American Rescue Plan Act of 2021 , which provides that there is no federal income tax imposed on student loan forgiveness through December 31, 2025 .
Goal Beyond intends to raise additional catalytic, philanthropic capital to purchase more charged-off private student loan portfolios to scale the reach and impact of the pilot. Ken Ruggiero , Goal Beyond’s Chief Executive Officer, has extensive experience in both the finance and higher education industries – giving him a unique vantage point in terms of how to holistically address the needs of a wide variety of learners. “Goal Beyond was founded to promote learner success – both academically and economically. By focusing our efforts on two critical levers – access to a quality education and financial opportunity – we believe that our Fellows will be positioned on a pathway to durable economic mobility. That is what makes this initiative so exciting, and we look forward to sharing our preliminary outcomes in the near future.”
For more information about Goal Beyond, visit www.goalbeyond.org .
About Goal Beyond:
Goal Beyond is a non-profit organization, founded in 2020 and based in San Diego, CA , with a mission to create the ecosystem that enables all learners to access a quality education and employers to source talent in a rapidly evolving labor market.
For media inquiries, please contact:
Tochi Izegbu
Chief Operating Officer
tizegbu@goalbeyond.org
(619) 837-8430
View original content to download multimedia:https://www.prnewswire.com/news-releases/goal-beyond-launches-the-beyond-restart-program-with-over-3-000-fellows-302282214.html
SOURCE Goal Beyond