‘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.
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.
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