Executive Summary
Financial insecurity is the leading reason college students drop out, with an estimated 13,800 tech students lost annually due to finances. Last Mile Education Fund acts as a safety-net for these students, providing emergency funds for basic needs and wrap-around support. The Last Mile solution is simple: gap funding of less than $3000 per student in the critical last four semesters can ensure financially vulnerable students graduate and transition into jobs, unlocking economic mobility and fueling innovation.
Unlike scholarships and established financial aid models, Last Mile is an investment in potential, not past performance. Their model is:
Inclusive – No GPA or institution-based restrictions; we focus on resilience and commitment.
Dignity-Focused – No “performing poverty”; need is validated via FAFSA and case-by-case review.
Reliable – students can receive multiple awards if needed, ensuring sustained support.
Agile – Emergency funding is provided within days, preventing dropouts.
Unrestricted – Cash gifts without tax implications or scholarship displacement.
Abundance-Minded – Every eligible student is funded based on need and available resources.
Last Mile has piloted and proven this model since 2020 and supported nearly 10,000 individual students across all US states and territories, achieving a 74% on-time graduation rate. Last Mile is scaling rapidly, serving an average of 400 students per month. An anticipated 3300 Last Mile Education Fund students aim to graduate in 2025.
To close the US tech talent gap, Last Mile aims to serve 10,000 students annually requiring a $30M annual budget. In Fall 2024, Last Mile updated and refined their financial model and impact estimates, projecting a 10-year 246x social ROI per dollar, per graduate comprised of; +$510,925 in income, +$29,453 personal savings, +$134,556 in Federal taxes paid, and -$198,476 in government transfers for every student who graduates due to Last Mile's intervention. Conservatively claiming just 12% of students who graduate do so solely due to receiving support from Last Mile (based on verified impact data), a $300M investment over 10 years yields; $3.1B in increased earnings, $164M in alumni net worth growth, $844M in net taxes paid, and $1.2B in government savings from reduced welfare dependence.
Lead Organization
Digital Harbor Foundation/Last Mile Education Fund
website: https://www.lastmile-ed.org/Charity, fund, non-governmental organization, religious institution, school, or other entity
Organizations may provide budget and employee data based on this proposal or the organization as a whole. For more information on this proposal or organization, please email us.
Accomplishments
- Invested in 1500 low-income women students pursuing computing related majors.
- Grantees are 48% Black, 25% Latino, 16% Asian, 10% White, 3% Indigenous
- Produced 420 new computing graduates in 18 months
- Raised $20M towards $60M goal
