Culture and Talent, Member Exclusive

‘Large swaths are severely underfunded’: How financial services can improve children’s mental health

  • Depression, anxiety and additional mental health disorders have been increasingly affecting children and young adults since the beginning of the pandemic.
  • The Morgan Stanley Alliance for Children’s Mental Health is tackling the mental health epidemic through investment and partnerships with mental health non-profits.
close

Email a Friend

‘Large swaths are severely underfunded’: How financial services can improve children’s mental health

The pandemic has created a mental health crisis around the world that has gravely impacted children and young adults. Financial services can be a major source of funding relief for vulnerable children at risk of falling through the cracks of an overburdened health care system. 

Despite increasing rates of mental illness, there remains a tremendous shortage in mental health investment. According to data from Candid, developed by the Center for High Impact Philanthropy, mental health accounted for only 1.3 percent of overall foundation investments from 2015 to 2018 despite affecting around 20 percent of Americans.

Depression and anxiety among children can often go undetected especially among those who live in marginalized communities. According to the CDC, around 75 percent of young adults suffer from a mental health or drug related problem and one in four have struggled with suicidal ideation since the onset of the pandemic. Around two-thirds of young people suffering with mental illness do not receive help.

 


This content is available exclusively to Tearsheet Outlier members.

Tearsheet Outlier information and signup Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — only $49/mo. Already an Outlier member? Sign in to your account

0 comments on “‘Large swaths are severely underfunded’: How financial services can improve children’s mental health”

Outlier OpinionsMakers

Finance Everywhere, Member Exclusive

Embedded Briefing: How embedded platforms rose in preference for SMBs looking to borrow

  • In 2021, alternate lenders led the uptick in SMB loan application approval, approving 24.5% of the loans, as against the 23.8% approved by institutional lenders.
  • Why have traditional lenders been unable to effectively meet SMB demand? Because they can't figure out how to do it profitably.
Subboh Jaffery | June 27, 2022
Green Finance, Member Exclusive

Green Finance Briefing: Greenwashing on Wall Street, and climate tech stocks outperforming the market

  • Regulators have started to investigate misleading ESG claims at big banks, signaling that they’re paying close attention to the wave of greenwashing happening in finance.
  • Elsewhere, climate tech stocks continue to outperform the market, and UN Secretary General Antonio Guterrez bemoans the counterproductive attitude of the finance industry towards climate change.
Iulia Ciutina | June 24, 2022
Member Exclusive, Payments

Payments Briefing: Is the ‘Apple Pay Later’ hype warranted?

  • This week, we review the hype around Apple Pay Later and try to determine how much of it is justified.
  • We also look at Square’s move to bring Afterpay to in-store purchases, making it even easier to pay in four – and how this greater ease could lead to overspending and growing consumer debt.
Ismail Umar | June 23, 2022
Member Exclusive, Online Lenders

Lending Briefing: The SMB Brexit, and digital lending VC funding

  • Given the recent announcement from expense management platform Brex to stop serving SMBs, how are its competitors looking to address the market?
  • We also take a look at the first quarter VC funding in fintech, and how lending compares to other verticals in the space.
Iulia Ciutina | June 22, 2022
Green Finance, Member Exclusive

Given the lack of standardization, how should FIs think about ESG reporting?

  • Creating a well-defined global framework for ESG and sustainability factors will bring more accountability in the financial sector, but this task is very complex in nature.
  • Financial institutions are increasingly feeling the pressure from an ESG standpoint, given the SEC crackdown and demands from consumers, but the lack of standards makes it hard for them to formulate a strategy.
Iulia Ciutina | June 21, 2022
More Articles