Moneythink
Moneythink, founded in 2008, is a tech-driven nonprofit organization that provides a free college affordability comparison tool called DecidED to help students and advisors make informed financial decisions.
History of Moneythink
Founded in 2008, Moneythink is a tech-driven college-success organization with a focus on increasing college graduation rates and reducing student loan debt. Since its inception, the organization has served over 33,000 students. Moneythink is a registered 501(c)(3) nonprofit that aims to help historically marginalized students graduate with little to no financial burden. The organization has achieved notable recognition, including being awarded the White House Champions of Change and Chicago Innovation Awards in 2012, and being named Capital One's Nonprofit Partner of the Year in 2020.
Moneythink Services
Moneythink provides a suite of services aimed at helping students make informed financial decisions about their college education. The cornerstone of their offerings is DecidED, a free tool that allows students and their advisors to compare college costs, financial aid benefits, and other fit factors. The DecidED tool includes an Advisor Dashboard, released in 2021, designed for college-access entities and schools. Additionally, the DecidED API allows for seamless integration into existing technology programs or services. These services collectively help students understand net costs, the loans they need, and enable informed enrollment decisions.
DecidED: Free College Affordability Comparison Tool
Moneythink's DecidED tool plays a crucial role in empowering students to make smarter financial decisions regarding their college education. It provides a comprehensive comparison of college costs, financial aid benefits, and other critical factors. Developed based on years of work with students, families, advisors, and their communities, DecidED turns complex financial award images into cohesive, understandable formats. The tool helps students and their advisors grasp the net cost and loan requirements, aiding in informed enrollment decisions. Launched in 2021, the DecidED Advisor Dashboard extends these capabilities to college-access entities and schools.
Grants and Awards
Moneythink has received several prestigious grants and awards that highlight its impact and innovation. In 2012, the organization was honored with the White House Champions of Change and Chicago Innovation Awards. In 2020, Capital One selected Moneythink as their Nonprofit Partner of the Year. In 2021, Moneythink was awarded a significant grant from the Bill & Melinda Gates Foundation to scale the reach and impact of its DecidED tool. These accolades recognize Moneythink's commitment to helping students from historically marginalized backgrounds graduate with minimal financial burden.
Moneythink Mission
Moneythink's mission is to dramatically increase the number of historically marginalized students graduating with college degrees while carrying little to no financial burden. To achieve this, Moneythink leverages technology and innovative tools like DecidED to assist students in making informed financial decisions. Through its services, the organization aims to reduce student loan debt and improve college graduation rates, thereby contributing to a more equitable educational landscape.