Help architecture grads build financial stability!

An estimated 44.7 million Americans owe approximately $1.5 trillion in student loan debt. According to an American Institute of Architecture Students (AIAS) poll of recent graduate students, respondents owed an average of $40,000 in accumulated debt after graduation. Meanwhile, 42% of Americans between 18-29 years old have no retirement savings, according to a report by the Federal Reserve. Few enjoy the luxury of saving anything for their retirement, and even fewer can reach the industry-recommended standard of setting aside 12–15 percent of gross income for retirement savings.

Becoming an architect is an increasingly costly prospect. Join me in helping build a pathway to debt relief and financial literacy. This initiative is part of a multifaceted effort by the American Institute of Architects (AIA) and Architects Foundation to lead graduates to a more affordable, healthy, and equitable future in the profession for Architecture.

My Story:

When I graduated in 2014, I had a bit more than the average $40,000.... it was more like $120,000 to be exact. This is a reality all to familiar to many emerging professionals. Very quickly I realized my monthly income would go toward three necessities: rent, loans, food. Unfortunately, these "buckets" were not distributed evenly and continue in a lopsided balance to this day. The reality was that I had no idea how to create an equilibrium that allowed me to work toward my definition of the American dream. Saving for retirement wasn't feasible, no rainy day fund was realistic, and neither was the risk of paying for a $210 ARE exam that I might not pass. The daily financial insecurity was and still is an omnipresent threat. Slowly, through self education, I began to strategize my financial future, leveraging my income and unburying myself from what still seems like an overwhelming mountain. The conscious and subconscious stress is all too real and leaves many including myself debilitated.

So where do we go from here? This is a crisis.

Legislation is one path. But I place more promise on the small but measurable acts of philanthropy, strategy, and education. This feat will not exist on a singular road. For us to continue building a more just, equitable, and inclusive profession, we must strategically focus on building pathways out of debt for graduates of architecture.

The Architects Foundation has started a new debt relief program to support recent graduates. Help us raise $30,000 to launch by November 2021!

So how can you help?

Give what you can. Its as easy as skipping those two matcha lattes with oat milk and giving $10 OR maybe saving those cocktails for another day and giving $30. This is a marathon not a sprint. It might seem small in the grand scheme, but this is the base for transformational impact and a legacy to help build financial stability for many architecture graduates to come.

The Architects Foundation is a registered 501(c)(3) organization, EIN 59-3819154. Learn more about the Architects Foundation at architectsfoundation.org

Learn about AIA's advocacy efforts to reduce student loan debt

Resources I have used for Financial Literacy:

1. The "Broke Millennial" book series
2. Nerdwallet
3. A budget tracker/planner like Mint (I actually started a crazy Google Sheet so I can "touch" and document every monthly expense)
4. Ramsey Student Loan Payoff Calculator