The Lumina Foundation is an organization dedicated to “individual opportunity, economic vitality and social stability”. It realizes this through seeking to improve the condition of higher education in the United States. It gives grants worth on average $250,000 to institutions and organizations that can help to meet its goals. Its primary focus is on post-secondary institutions, but it does award money to others that can help promote its goals. Lumina Foundation’s overarching goal is to increase the number of people who have a college degree up to 60% by 2025.
The Lumina Foundation currently has three focuses:
- Increasing student preparedness in K-12 education – It seeks to bridge the gap between K-12 education and college. It funds programs to help students be more prepared for the demands of college, programs to help increase the awareness of college alternatives, and programs that promote financial information for students and families.
- Increasing students’ likelihood of success while they’re in college – The new economy is based off knowledge and skills. Only individuals who are educated will be able to complete for jobs. The Foundation also seeks programs that help adults and people from all ethnic groups succeed in their educational goals.
- Encouraging institutional productivity for colleges – The Foundation wants to reward schools that have high percentage of students who successfully complete their courses. It also wants to reward schools that are more efficient, as that will lead to student savings.
Part of the rationale for the Lumina Foundation’s rationale for grants is that the United States lags behind other industrialized countries. Canada has over 50% of its population attaining a college degree, while the US has 39% of its population with a degree. The US has a large disparity between college degree attainment and race. About one third of white students obtain a bachelors degree, while blacks have about half that rate, and Latinos have a rate about half again. It especially seeks to help promote equality between different populations.
Example grants that The Lumina Foundation has funded in the past include
From Soldier to Student: Easing the Transition of Service Members on Campus
Diplomas Count 2009: Broader Horizons: The Challenge of College Readiness for All Students
Getting Back on Track: Effects of a Community College Program for Probationary Students
Trends in College Spending: Where Does the Money Come From? Where Does It Go?
And many, many more.
Source: http://www.luminafoundation.org
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