National Endowment for Financial Education Grant

The National Endowment for Financial Education Grant supports innovative research aimed at enhancing the public's financial well-being. This grant prioritizes studies that address financial literacy, systemic inequality, and the effectiveness of financial education among U.S. youth. Eligible applicants include researchers from nonprofit organizations or educational institutions. The funding process involves multiple phases, including evaluations and proposals, ensuring that impactful projects receive necessary support. NEFE aims to foster rigorous research that contributes significantly to financial education.

NOTE: Phase One
Our internal review team evaluates each LOI, based on its ability to meet the eligibility requirements, alignment with our Research Funding Priorities, and potential impact to the field.
Phase Two
We conduct second round video calls with applicants who have received the highest scoring evaluations. These calls allow us to engage in scholarly dialogue and continue our evaluation process, while providing applicants with an opportunity to give a formal presentation of their potential project. After second round video calls, applicants will be notified soon after of whether they have been invited to submit a full proposal to NEFE. Video calls will span over 1-2 months, after which NEFE allows 4 weeks to compose the full proposal.
Phase Three
Our internal team reviews the full proposals, asks clarifying questions if necessary, and makes funding decisions. Applicants who are invited to submit proposals can expect this phase to span approximately 3 months, after which funding decisions are made and contracting will begin.
We provide funding for rigorous, innovative and actionable research that seeks to improve the public's financial well-being and has the potential to make a profound contribution to the field of financial education. We currently offer research grants and will soon expand our support to include directed research opportunities.
We welcome original research questions and replication studies that align with our funding priorities. Research projects must use rigorous empirical and/or theoretical analysis. Original data is welcome but not required.
Our grant cycle remains open to all eligible concepts, but we give preference to well-designed projects that align with any of the following four topic areas:
Measurement: Studies that re-evaluate current financial literacy metrics and how financial literacy, behavior, perception, knowledge and skill can be measured more effectively.
Systemic Inequality: Studies that investigate knowledge, skill and wealth disparities, especially among populations that are statistically more likely to experience systemic barriers to improving their financial well-being.
Data and Methodological Limitations: Studies that examine bias—specifically as it pertains to personal finance— to help our field identify knowledge gaps and to strengthen research data and design by including traditionally less heard voices.
Youth Focus: Studies that examine inconsistencies in exposure to financial education among youth in the U.S. as well as variations in financial socialization and education within family units.

Eligibility

To be eligible for funding from NEFE, the principal researcher must have the demonstrated ability to implement the methodology and analyze the results, and must be affiliated with a U.S. nonprofit college, university, research organization, or other 501(c)(3) nonprofit organization. For a graduate student, this could mean having a co-principal investigator heavily involved in supporting the research study.Your Project Should:Generate new data or utilize existing datasets; original data is not required
Involve the direct study of U.S. households and individuals or issues and trends pertaining to them (i.e., the scope is domestic)
Investigate direct impacts of financial education or propose research that results in findings impactful to the field
Align with our research funding prioritiesFor approved projects, NEFE funds eligible expenses such as:The research team’s time (e.g., principal researcher course buyout, graduate assistant compensation).
Direct costs related to the research project (e.g., incentives for research participation, conference travel to present the research).
Indirect costs up to 15 percent.

Ineligibility

We do not fund projects that:Have commercial or proprietary elements
Are related to the pilot, development, execution, evaluation, expansion or administration of specific programs, courses or curriculaFor research projects that otherwise meet eligibility criteria, NEFE does not fund the following ineligible expenses:Expenses not directly related to the funded project, such as salaries of permanent staff or operating and administrative expenses.
Material and capital costs, such as building and construction; or basic infrastructure and equipment, such as computer hardware and software.
Lobbying, political contributions or similar activities designed to influence legislation.
Re-grants or pass-throughs.
Donations, endowments, challenge grants, matching funds or sponsorships.
Direct or matching payments to members of the public.