Search Results
Journal Article
District Digest: Community Colleges as Anchor Institutions in Rural Areas
The Fifth Federal Reserve District — comprising Maryland, North Carolina, South Carolina, Virginia, most of West Virginia, and Washington, D.C. — is home to 122 public two-year institutions that have a wide range of both traditional academic and technical programs. More than half of these community colleges are located in rural counties. The 66 rural community colleges, like the private and public four-year institutions of higher education in rural areas, play an anchor institution role in their communities. But this role is not always accounted for in the formulas that federal, state, ...
Discussion Paper
The Federal Reserve’s COVID-19 Community Impact Survey
The Federal Reserve developed and fielded a survey of community-based organizations to better understand the impacts of COVID-19 on their operations and the communities they serve. Fifth District respondents in April and June expressed that while organizations and communities are experiencing significant disruptions, effects are expected to be longer-lasting for the latter.
Discussion Paper
Introducing Rural Spotlights
Discussion Paper
Households Confront the End of Pandemic-Era Assistance Programs
The U.S. government, beginning in March 2020, took extraordinary measures in response to the emergence and spread of the novel coronavirus. Through policy changes and major spending bills, the federal government directed funds to help states, localities, and households manage the economic challenges caused by the pandemic. Two of the many measures that the government took to directly aid households were increasing the flexibility and benefits of the Supplemental Nutrition Assistance Program (SNAP) and pausing federal student loan payments. Now that enhanced SNAP benefits have ended and ...
Discussion Paper
Unfinished Business? A Closer Look at the "Some College, No Degree" Population
Higher levels of education are, on aggregate, associated with increased employment, higher wages, and better health outcomes. However, nearly 40 percent of those who enroll in higher education never complete, often leaving them with student loan debt, lost wages from time spent in college, and no benefit of the earnings premium associated with degree attainment. These so-called "some college, no degree" (SCND) students may find the path to employment difficult or reach a wage ceiling quickly in the labor market. A recent report from the National Student Clearinghouse (NSC) finds that as of ...
Journal Article
District Digest: Measuring Social Capital Across the Fifth District
How cliquey is your community? How often do people from different income groups in your area befriend one another? Do your neighbors volunteer their time to charitable causes? Social scientists have long studied social capital — the strength and value of social networks within communities — as well as its effects on economic, health, and political outcomes. Political scientists have linked higher civic engagement with the strength of democratic institutions, while economists have studied the role that friendships across socioeconomic statuses might have in fostering economic mobility.
Journal Article
Employment Barriers in the Rural Fifth District
In Virginia, 75 percent of working-age adults are employed, in line with the national average of 74 percent. But there are significant disparities across geographies. In Loudoun County, Va., in the Washington, D.C., metro area, the share is 84.1 percent. On the other side of the state, in Lee County, just 48.2 percent of working-age adults are employed. This is true of many socioeconomic indicators: Aggregation is necessary to understand broad outcomes, but with aggregation, we lose important geographic distinctions and, thus, the opportunity to identify both challenges and solutions. This is ...
Discussion Paper
Spotlight on Rural Best Practices: Lessons From the 2023 IRA Poster Session
Throughout our region, small towns and rural communities are continually working to improve outcomes for their residents. And we can learn a lot from how different communities, and the organizations within them, are gaining positive traction. What are their ingredients for success?While the mix of ingredients differs from one community to the next, a top five list has emerged from the Richmond Fed's engagement with rural communities over the past several years: 1) regional collaboration; 2) strong local leadership; 3) telling a compelling story; 4) playing to strengths; and 5) taking a ...
Discussion Paper
Following the Money: State and Local Funding for Community Colleges in the Fifth District
Public colleges and universities (including community colleges) represent the largest sector of undergraduate higher education in the United States. In the fall of 2023, community colleges and public four-year universities enrolled 73 percent of all undergraduate students. These institutions receive most of the public state and local funds designated for higher education, but the level and composition of funding varies across states and institution types.State funding formulas have historically directed significantly more money toward four-year institutions than to community colleges — a ...
Discussion Paper
Is Rental Assistance Getting to Those in Need?