CFED Scorecard

CFED Assets & Opportunity Scorecard

Mississippi Reports & Graphics State Profile
Overall
Outcome Rank
Overall
Policy Rank
Outcome Rankings Policy Rankings
Financial Assets & Income 50 Financial Assets & Income 41
Businesses & Jobs 51 Businesses & Jobs 48
Housing & Homeownership 26 Housing & Homeownership 43
Health Care 32 Health Care 17
Education 51 Education 49

Connect to the A&O Network in Mississippi
Underbanked Households in MS
If Mississippi improved to the performance of the best state, there would be:
119,990 fewer underbanked households
 

OUTCOME RANKINGS
Issue Area Rank: 50 | GRADE F

Outcome Measure State Data US Data Rank
Income Poverty Rate 22.4% 14.7% 51
Asset Poverty Rate 30.4% 25.4%
Asset Poverty by Race 2.3 x higher
for HHs
of color
2.2 x higher
for HHs
of color
Asset Poverty by Gender 1.15 x higher
for single women
Asset Poverty by Family Structure 2.2 x higher
for 1-parent HHs
Liquid Asset Poverty Rate 61.9% 43.5% 38
Liquid Asset Poverty by Race 1.5 x higher
for HHs
of color
1.7 x higher
for HHs
of color
Liquid Asset Poverty by Gender 1.09 x higher
for single women
Liquid Asset Poverty by Family Structure 1.9 x higher
for 1-parent HHs
Extreme Asset Poverty Rate 19.5% 17.0%
Net Worth $35,302 * $70,359
Unbanked Households 15.1% 8.2% 51
Underbanked Households 23.6% 20.1% 44
Households with Savings Accounts 51.8% 69.2% 50
Consumers with Subprime Credit 69.1% 56.3% 51
Borrowers 90+ Days Overdue 5.15% 3.63% 50
Average Credit Card Debt $6,837 $10,221 8
Bankruptcy Rate (per 1,000 people) 4.1 3.7 35

POLICY RANKINGS
Issue Area Rank: 41 | 4 of 20 policies adopted

Policy Priorities
Automatic Direct Deposit
Automatic direct deposit?
Child Tax Credit and Child and Dependent Care Tax Credit
CTC or CDCTC enacted?
Debt Collection and Bankruptcy
At least 2 major assets protected?
Lifting Asset Limits in Public Benefit Programs
Eliminated TANF asset test?
Eliminated SNAP asset test?
Protections from Predatory Debt Settlement Practices
Debt settlement protections?
Protections from Predatory Short-Term Loans
Protect against payday lending?
Protect against car-title lending?
Protect against short-term installment loans?
Prize-Linked Savings
Prize-linked savings?
State Earned Income Tax Credit
State EITC?
Refundable EITC?
State EITC is 15% of federal?
Statewide Financial Access Programs
Statewide financial access program?
State Support for Individual Development Accounts
State funding?
State Tax Fairness
State income tax?
Progressive State Tax Rate?
Tax Preparation Regulation
Regulate tax preparers?
Ban add-on fees?
Unemployment Compensation Using Prepaid Cards
Low-fee UI prepaid card?

Footnotes

"—" Not Available. Data or ranks are not available because insufficient or unreliable data exist for the state.

* Indicates that the margin of error is greater than 25% of the estimate, and as such, this estimate is too imprecise to rank. Caution should be used when using this data.

Low-Wage Jobs in MS
If Mississippi improved to the performance of the best state, there would be:
330,468 fewer jobs in low-wage occupations
 

OUTCOME RANKINGS
Issue Area Rank: 51 | GRADE F

Outcome Measure State Data US Data Rank
Microenterprise Ownership Rate 16.4% 16.5% 17
Small Business Ownership Rate 1.32% 1.36% 41
Business Ownership by Race 2.2 x higher
for white workers
1.5 x higher
for white workers
43
Business Ownership by Gender 1.4 x higher
for men
1.3 x higher
for men
45
Business Value by Race 6.2 x higher
for white bus. owners
2.6 x higher
for white bus. owners
51
Business Value by Gender 2.8 x higher
for men
2.6 x higher
for men
34
Business Creation Rate (per 1,000 workers) 6.7 9.3 47
Private Loans to Small Business $1,203 $1,155 20
Unemployment Rate 9.0% 7.6% 47
Unemployment by Race 2.2 x higher
for workers
of color
1.7 x higher
for workers
of color
43
Underemployment Rate 15.0% 14.1% 42
Low-Wage Jobs 35.5% 21.0% 51
Average Annual Pay $40,309 $49,289 47
Retirement Plan Participation 41.4% 44.2% 43
Employers Offering Health Insurance 48.3% 50.1% 29

POLICY RANKINGS
Issue Area Rank: 48 | 0 of 10 policies adopted

Policy Priorities
Loans for Beginning Farmers
Aggie Bond program?
Minimum Wage
Adequate minimum wage?
All classes of workers covered by state minimum wage?
Paid Leave
Paid leave required?
Expanded FMLA?
Support for Unemployed Entrepreneurs
Active SEA program?
State Support for Microenterprise
CDBG funding?
TANF/WIA funding?
Unemployment Benefits
Adequate benefit?
Expanded eligibility enacted?

Footnotes

"—" Not Available. Data or ranks are not available because insufficient or unreliable data exist for the state.

Housing Cost Burden - Renters in MS
If Mississippi improved to the performance of the best state, there would be:
54,861 fewer cost-burdened renters
 

OUTCOME RANKINGS
Issue Area Rank: 26 | GRADE C

Outcome Measure State Data US Data Rank
Homeownership Rate 68.2% 63.9% 15
Homeownership by Race 1.4 x higher
for white HHs
1.6 x higher
for white HHs
11
Homeownership by Income 2 x higher
for top 20%
2.2 x higher
for top 20%
5
Homeownership by Gender 1.02 x higher
for single men
1.01 x higher
for single women
Homeownership by Family Structure 1.8 x higher
for 2-parent HHs
1.9 x higher
for 2-parent HHs
16
Foreclosure Rate 2.33% 3.33% 25
Delinquent Mortgage Loans 4.01% 2.55% 49
High-Cost Mortgage Loans 6.20% 3.57% 48
Affordability of Homes (value/income) 2.7 x higher than median income 3.3 x higher than median income 11
Housing Cost Burden - Homeowners 31.9% 33.9% 28
Housing Cost Burden - Renters 54.3% 52.0% 47

POLICY RANKINGS
Issue Area Rank: 43 | 4 of 15 policies adopted

Policy Priorities
Foreclosure Regulations
Third-party review?
Mortgage servicer regulation?
First-Time Homebuyer Assistance
Downpayment assistance?
Direct lending?
Homeownership counseling?
Targeted MCCs?
Housing Trust Funds
Housing trust fund?
Protection from Discrimination for Low-Income Renters
Section 8 protections?
Post-Foreclosure Protections
Deficiency judgments limited/abolished?
Preservation of Affordable Rental Housing
30 year LIHTC affordability required?
Property Tax Relief
Well-targeted circuit-breaker?
Redeveloping Foreclosed Properties
Land banking enabled?
Resident Ownership and Titling of Manufactured Homes
Encourages resident ownership?
Titling as real property?
Tenant Protections from Foreclosure
Tenant foreclosure protections?

Footnotes

"—" Not Available. Data or ranks are not available because insufficient or unreliable data exist for the state.

Uninsured Low-Income Children in MS
If Mississippi improved to the performance of the best state, there would be:
26,194 more low-income children with health insurance
 

OUTCOME RANKINGS
Issue Area Rank: 32 | GRADE C

Outcome Measure State Data US Data Rank
Uninsured Rate 19.6% 16.9% 41
Uninsured by Race 1.4 x higher
for people
of color
2 x higher
for people
of color
5
Uninsured by Income 3.4 x higher
for poorest 20%
4.4 x higher
for poorest 20%
9
Uninsured by Gender 1.1 x higher
for men
1.2 x higher
for men
9
Uninsured Low-Income Children 8.0% 10.0% 26
Uninsured Low-Income Parents 34.8% 35.0% 33
Employer-Provided Insurance Coverage 48.2% 57.4% 50
Employee Share of Premium 33.2% 27.4% 50
Out-of-Pocket Medical Expenses 14.2%

POLICY RANKINGS
Issue Area Rank: 17 | 2 of 4 policies adopted

Policy Priorities
Expanded COBRA Coverage
Expanded COBRA coverage?
Limitations on Hospital Charges, Billing and Collections
Limits charges, billing or collections?
Medicaid and CHIP: Simplified Procedures for Children
2 of 3 procedures implemented?
Medicaid Expansion
Medicaid expansion?

Footnotes

"—" Not Available. Data or ranks are not available because insufficient or unreliable data exist for the state.

Student Loan Default Rate in MS
If Mississippi improved to the performance of the best state, there would be:
3,829 fewer borrowers defaulting on their student loans
 

OUTCOME RANKINGS
Issue Area Rank: 51 | GRADE F

Outcome Measure State Data US Data Rank
Early Childhood Education Enrollment 32.3% 27.6% 15
Math Proficiency - 8th Grade 21.3% 35.5% 48
Reading Proficiency - 8th Grade 20.2% 36.1% 50
High School Graduation Rate 75.0% 37
High School Degree 82.3% 86.4% 49
Two-Year College Degree 29.0% 37.1% 47
Four-Year College Degree 20.7% 29.1% 50
Four-Year Degree by Race 1.7 x higher
for white adults
1.6 x higher
for white adults
29
Four-Year Degree by Income 7.3 x higher
for top 20%
5 x higher
for top 20%
49
Four-Year Degree by Gender 1.13 x higher
for women
1.0 - nearly equal
for women & men
Average College Graduate Debt $27,322 $29,400 30
College Graduates with Debt 57% 71% 19
Student Loan Default Rate 17.4% 14.7% 47

POLICY RANKINGS
Issue Area Rank: 49 | 2 of 16 policies adopted

Policy Priorities
Access to Early Education
Sufficient funding?
7 of 10 quality standards met?
Access to Quality K-12 Education
Adequate education spending?
Targeted education spending?
Strong teacher evaluation and retention?
College Savings Incentives
529 matching programs?
Partnerships with large entities?
Minimized savings barriers?
Full-Day Kindergarten
Full-day kindergarten required?
Financial Education in Schools
Personal finance required and assessed?
In-State Tuition for Undocumented Students
In-state tuition?
Postsecondary Education Financial Aid
Adequate financial aid funding?
Well-targeted financial aid?
State-Funded Head Start
Head Start grant?
Student Protections from Deceptive For-Profit Schools
Tuition compensation?
Online regulation?
State Support for Public Colleges and Universities
Adequate funding for public colleges?
WIA-Funded Workforce Training
Adequate workforce training funding?

Footnotes

"—" Not Available. Data or ranks are not available because insufficient or unreliable data exist for the state.

Copyright © 2014 CFED — Corporation for Enterprise Development 1200 G Street, NW Suite 400 Washington, DC 20005 202.408.9788

Powered by ARCOS