Donor Name: Nebraska Department of Economic Development
County: Selected Counties
Type of Grant: Grant
Size of the Grant: Up to $1,000,000
Award Amount: Up to $1,000,000.00
Who is Eligible to Apply?
- The Financial Literacy Grant Program application will be open to postsecondary institutions located in a qualified census tract in a city of the metropolitan class to provide a financial literacy program for individuals residing in qualified census tracts.
- US Treasury has stated that SLFRF funds used to provide financial services that facilitate the delivery of federal, state, or local benefits (e.g., Child Tax Credit, Earned Income Tax Credit, tax refunds, or emergency housing or food assistance funds) as eligible uses. The following non-exhaustive list outlines eligible financial services that may be provided to unbanked and underbanked households:
- Provide low or no cost financial services, including in conjunction with administration of benefits, such as pre-paid debit cards, e.g., via Economic Impact Payment or General Purpose Reloadable pre-paid cards or for the development of public banking infrastructure that can support benefit delivery.
- Provide transitional services to facilitate long-term access to banking and financial services.
- Provide financial literacy programs and conduct community outreach and deploy engagement resources to increase awareness about low-cost, no-overdraft fee accounts, pilot new strategies and approaches that help overcome barriers to banking access and support the gathering and sharing of information in ways that improve equity, such as community meetings, partnerships with community-based organizations, online surveys, focus groups, human-centered design activities, and other community engagement activities.
Uses of Funds
Pursuant to 42 U.S.C. §802(c)(1), awards made by the Financial Literacy Grant Program are in response to negative economic impacts with respect to the Coronavirus Pandemic (COVID–19.) The Financial Literacy Grant Program will provide funding to a postsecondary institution located in a qualified census tract in a city of the metropolitan class to provide funding for a financial literacy program to improve economic and health outcomes for individuals residing in qualified census tracts. A city of the metropolitan class is defined by Neb. Rev. Stat. § 14-101. A QCT is defined in 26 U.S.C. 42(d)(5)(B)(ii)(I), as such section existed on January 1, 2022.
For more information, visit NDED.