LMI Data for Community College?

Posted By: TMatt87

LMI Data for Community College? - 12/23/20 03:57 PM

We have an employee who regularly guest lectures a fundamentals of finance course at a local community college. About 80% of the students at the college qualify for financial aid. Does qualifying for financial aid equal LMI individuals for college, similar to free/reduced lunch for K-12? If not, is there another way to determine LMI status?
Posted By: rlcarey

Re: LMI Data for Community College? - 12/23/20 04:01 PM

The employee does this for free as a representative of the bank?
Posted By: CompliantOkie

Re: LMI Data for Community College? - 12/23/20 04:47 PM

We use Pell Grant eligibility to qualify a local college for CRA consideration when we invested in some bonds several years ago. Our OCC exam team was pleased with that criteria.
Posted By: InFairness, CRCM

Re: LMI Data for Community College? - 12/23/20 05:15 PM

In addition to Pell Grant eligibility, sometimes colleges will publish student income distribution data that can be used to help qualify this type of financial literacy education.
Posted By: Tennismom

Re: LMI Data for Community College? - 12/29/20 04:49 PM

https://nces.ed.gov/collegenavigator/ This site will give you an institution's Pell Grant % - All Undergraduate Students. This can be found when you expand the "Financial Aid" portion of the webpage.