Blog

Professor’s Vintage Mustang to Fund Scholarships

May 12, 2016

by Susan Dutca

A deceased college professor's 1985 Ford Mustang GT is on the market...to raise money for scholarships and honor the educator who, despite his 35 years of "superb teaching" had no campus memorialization. The vintage muscle car, valued at $15,500, will fund scholarships within three different departments at the University of Wisconsin-La Crosse.

Bill Vettes, the Marxist professor at UW-L, is fondly remembered for his humiliation of unprepared students, his "brutal intimidation," and his devotion to teaching "uncomfortable truths." While other classes such as Rec 100 were making snow angels outside his classroom, he demanded attention to "French philosophy with real-world insight." The annual Teacher of the Year Award was suspended after Vettes won it twice in four years.

Vettes' love for his sports cars was evidenced by his ownership of 15 of them - including a 1963 Corvette Stingray, a 1966 Jaguar XKE, a 1987 Mazda RX-7, a 1989 Camaro IROC, and a turbocharged 1991 Dodge Stealth RTU. The man who refused to drive a sports car for less than an hour had even given a former UW-L President's daughter a quick 110 mph ride to school.

Vettes' colleague Jim Parker will be selling the Mustang GT in honor of the Marxist sports car enthusiast. One-third of the proceeds will go to scholarships - one for students studying multicultural understanding, one for elementary education (with a focus on social justice issues), and the last for those majoring or minoring in women's studies or German studies. According to the La Crosse Tribune, the first two scholarships are self-sustaining and when “all three reach that point, Parker will start the William Vettes Scholarship."

If you're passionate about the automotive industry, education, social justice, women's studies, or foreign languages/cultures, check out some of our scholarships by types to begin funding your college education.

And remember, there’s no need to rely on expensive student loan options to pay for your college education. For more information on finding free scholarship money for college, conduct a Scholarships.com free college scholarship search today, then apply and win! It’s that easy!

Comments (4)

Street Corner Scholarships? Student Panhandles in Attempt to Pay for College

Apr 26, 2016

by Susan Dutca

The class of 2015 had the largest student loan debt in history and while some students may side hustle to cover their tuition bill, one student has opted to skip the grind and instead, hustle the streets to help pay for her college education.

Star student Emily Stutz wasn't offered the necessary financial aid to attend college, even after she appealed to all of the eight schools to which she was accepted. Her parents, who earn a combined $155,000 as special education teachers, aren't able to "come up with $20,000-$30,000 a year," according to Stutz. So she created a GoFundMe account and panhandled outside a local Target over the weekend, holding a sign that read "H.S. Senior. No $ for College. Anything helps." So far, Stutz has raised over $24,000 via her GoFundMe page, which would cover one year's tuition at a private college - so she considered staying home and going to the University of Massachusetts which costs only $13,500 a year.

While she had many sympathizers, some drivers told her to get a job. Though she has a 4.0 GPA, works two jobs, has been accepted to all eight to which she applied, she claims, "even the smaller cost [of attending college] was unattainable." Most importantly, Stutz wanted to relay her message on the issue of student loan debt and college unaffordability, stating "It's such a big issue with the presidential election...people take out these huge loans and have to pay back like a mortgage on their education."

Merit scholarships at private institutions aren't enough to lessen the burden of the tuition price tag, according to Stutz. While we were unable to discover to which schools Miss Lutz applied, perhaps a community college would be an affordable option. The money she has raised via GoFundMe so far would likely pay for all or most of her undergraduate studies if she spent the first two years at one of the dozens of community colleges in Massachusetts, most of which are around $4,000 per year. There are also ample opportunities out there for students who take the time to search and apply for scholarships. Many high school students start searching for scholarships when they are a sophomore or junior in high school, which is a great idea as well, rather than relying on the colleges to which you apply for all of your financial aid. Applying for more than one scholarship also increases your chances of earning more money towards your college education. Just read the Success Stories of some of our users and see how they made their post-secondary education affordable and occasionally even free.

In your opinion, do you think panhandling for college funds is the best option? Would you do it? What other options would you consider pursuing? Leave us your thoughtful comments below.

Going to college doesn't have to break the bank or saddle you with tens of thousands of dollars in student loan debt. Check out the Scholarships.com free college scholarship search where you’ll discover you qualify for hundreds of thousands of dollars in scholarships in just a few minutes, then apply and win! It’s that easy!

Comments (8)

Parents, Students Paying $1.5 Billion A Year for Remedial College Courses

Apr 12, 2016

by Susan Dutca

What happens when half a million students are forced to take zero credit, remedial college courses? Parents and students must pay roughly $1.5 million and borrow $350 billion extra a year - even if 74 percent of those students end up delaying college or dropping out. Not only does it break the bank for low-income families, but yes, the affluent families as well. Who's to blame for college unpreparedness?

According to a new report by researchers at Education Reform Now, "American families across all income levels are spending billions each year in extra college costs." Though the common perception is that remedial courses are only available for low-income students or community colleges, it extends to middle, upper-middle, high-income, and many colleges of well. In particular, some of the most affluent students at private nonprofit four-year colleges (the top 20 percent) are taking more remedial courses than students from the bottom 20 percent of national family incomes. Statistics show that over $12,000 extra has been spent by unprepared students from the top income quintile (incomes over $113,440) attending private nonprofit institutions. On average, about $3,000 is paid extra, and $1,000 borrowed to complete remedial courses. Additionally, unprepared students are more likely to delay completing college - or simply drop out. The issue of college unpreparedness is not limited to minority or low-income students, but it penetrates all income levels.

But who's to blame? Researchers point to the "expansive failure of our K-12 education system" and recommend giving secondary assessment when accessing college readiness. Some believe that we are focusing on the wrong topics and should, for example, teach statistics and not algebra since it will be more practical and useful post-college. Others blame the way in which students are evaluated through the "traditional method of scoring." Proponents of the Common Core State Standards, including President Obama and even some conservative allies believe that the "common-sense logic" is premised on the skills necessary to successfully participate and compete in the 21st-century economy and global market. Some schools have already addressed the issue by implementing a "corequisite remediation" model which allows students to take for-credit courses while being enrolled in a "learning support class to help them master the material."

Should both high schools and students be held accountable for their college readiness? Remedial courses are depleting students' financial aid and savings, and have them asking professors whether they know of any scholarships that are intended to help students who have run out of financial aid. You can count on ample scholarship opportunities here at Scholarships.com to leave you financially prepared for college costs. From easy scholarships where you hardly have to do anything to essay scholarships, you have the chance to help fund your higher education dreams.

And remember, there’s no need to rely on expensive student loan options to pay for your college education. For more information on finding free scholarship money for college, conduct a Scholarships.com free college scholarship search today, then apply and win! It’s that easy!

Comments (2)

Northwestern University to Resolve Student Loan Debt?

Mar 22, 2016

by Susan Dutca

Beginning this fall, Northwestern University will offer grant and scholarships to combat student debt for qualifying students. As is the case with many colleges and universities, Northwestern's tuition hikes over the past several years have not helped the issue of crippling student debt. Based on their endowment and continued contributions from alums, it would certainly seem that Northwestern could offer considerably more financial assistance than they are at present. While Northwestern is about to start offering more free money to incoming students, capping the potential loans at $20K, we believe there is a solution to keep students from burying themselves in student loan debt: scholarships.

It took six years of student organizing and meeting with administrators to begin the process of reviewing and changing the financial aid policy to a no-loan program that grants 100 percent coverage of student financial aid; implements a cap for loans on current students whose debt is at $20,000; and offers full university financial aid for undocumented students. Students who reach $20,000 in loans will have additional aid covered in grants, but there's a catch. If you are at $30,000, you're not getting a check, according to Northwestern Vice President of Media Relations, Alan Cubbage. The new program will start 10 new initiatives for both undergraduate and graduate students, with a special emphasis on undocumented students who graduate from U.S. high schools, low-income, and first-generation students, according to the Chicago Tribune.

Going to college doesn't have to break the bank or saddle you with tens of thousands of dollars in student loan debt. Check out the Scholarships.com free college scholarship search where you’ll discover you qualify for hundreds of thousands of dollars in scholarships in just a few minutes, then apply and win! It’s that easy!

Comments (0)

Student Loans Rank Top 10 in Consumer Scams

Mar 8, 2016

by Susan Dutca

Student loans made the list for the Top 10 Consumer Scams in Illinois, ranking 7th with 1,500 of the 25,094 complaints that are seen by Attorney General Lisa Madigan's office. As if the 40 million Americans who hold $1.2 trillion in debt wasn't bad enough, student loan scams joined the list of scams including abusive debt collection practices, mortgage lending, and payday loans, according to Gail MarksJarvis.

Most people know that one of the top consumers scams out there is identity theft. What's not as well-known is the large number of students who fall victim to student loan scams. Though they may be promised debt relief by making upfront payments of hundreds of dollars, with no relief to ever come, according to MarksJarvis. The scammers who once defrauded people with mortgage relief scams, according to MarksJarvis, now ventured into new territory: student loans. Madigan has targeted one of the scamming businesses based in Lombard, National Student Loan Rescue, and filed suit against them on Monday. They reportedly "advertised it would get student loans out of default, remove wage garnishments, lower monthly payments and secure loan forgiveness, but didn't deliver after accepting upfront fees."

What happens when government, income-based repayment programs aren't doing enough to help students with their debt? Borrowers turn to alternate options and fall victim to scam artists. Madigan blames the inefficient of such federal loan services for "keeping people in debt" and disabling them from contributing to the economy through purchases such as car-buying. Furthermore, she criticizes the quick relief forbearance which provides temporal relief with added interest charges to be paid later. This only perpetuates the cycle of debt, according to Madigan.

To "relieve" student loans, private companies are actually just filing paperwork to consolidate borrower's federal loans into a Direct Consolidation Loan. That means they're charging more than $1,000 for services that the Department pf Education offers free of charge. Some fraudulent businesses will advertise on the radio, using titles such as "federal" or "national," even though they are private businesses. If they promise to relieve student debt outright or get you out of default, they're most likely scamming you. If it seems too good to be true, it most likely is. For the complete list of top Illinois scam complaints, as well as options for helping borrowers on repayment options, read here.

Word of advice from Madigan: borrowers should never have to pay for information on paying back loans. A way to spot scams is "noting requests for upfront payments." Likewise at Scholarships.com., where we believe that no scholarship search or scholarship should ever cost a penny, as those are only the practices of sharks and scammers when it comes to the business of awarding money, not taking it.

And don't forget, you should pay for your college education with as much free money as possible! Find as many scholarships and grants as you can before turning to student loans. Visit the Scholarships.com free college scholarship search today where you'll get matched with countless scholarships and grants for which you qualify, then apply and win! It’s that easy!

Comments (3)

‘Just Do It’ CEO Does It, Donates $400 Million for Scholarships

Feb 25, 2016

by Susan Dutca

What do you get when you combine Nike Co-Founder and Stanford alumni Phillip Knight with one of the world's most prestigious universities? A big name school with an additional $400 million donated graduate scholarships. As a gift to Stanford University on his 78th birthday, the endowment is intended to attract some of the world's brightest graduate and professional students looking to solve major global challenges.

The Knight-Hennessey Scholars Program is one of the largest scholarships to have ever been donated from an individual university. Stanford also claims that the program represented the "largest single increase in student financial aid in Stanford's history," and it will provide aid for a minimum of three years of graduate-level study, with 100 scholars admitted annually. The Stanford Daily reports that it "will be analogous to the Rhodes and Shwarzman scholarships." According to the press release, scholars will be nominated by their universities based on high academic achievement, leadership, and civic commitment. Nominees will be from a wide range of backgrounds and nationalities.

John Hennessey, Stanford's President of 16 years who is stepping down this year to run the new scholars program, claims that the program "will be the largest graduate scholarship program focused on all disciplines at any university in the world." The graduate and professional schools in which it will enroll scholars are law, business, medicine, engineering, humanities and sciences, education, Earth, energy, and environmental sciences. There is also an option for extended funding for scholars pursuing PhD or MD degrees. Leadership training and development, residential experiences, immersive educational opportunities, and additional degree opportunities focused on public policy and problem-solving will be incorporated into the program. More than 80% of the endowment will cover students' living expenses and education.

While the generous endowment would help educate some of the world's prospective leaders, some criticize the "megagifts" given to prestigious universities, claiming that "they are more about prestige and ego than academic excellence," as reported by Alessandra Stanley of the New York Times. Could this really just be an "arms race between the top schools with no connection to reality," as stated by New York writer and author Malcolm Gladwell?

Knight has supported Stanford since 2006, when he contributed a large gift to Stanford’s Graduate School of Business. The Knight-Hennessey Scholars Program is actually Knight's second largest donation to a college or university, the largest being a 2013 donation of $500 million to the University of Oregon in which he challenged the university to raise $500M by offering to match the amount. Stanford will start accepting applications beginning in the summer of 2017 and admit its first brigade of scholars for fall of 2018. Knight and Hennessey "dream of a future 20, 30, or 50 years from now, when thousands of graduates - who can think outside the box as skilled problem-solvers - will be working together for a more peaceful, habitable world."

Would you apply for the scholarship program? Keep an eye out for more information to come on the scholarship and in meantime, see what other scholarship opportunities you are eligible for.

Going to college doesn't have to break the bank or saddle you with tens of thousands of dollars in student loan debt. Check out the Scholarships.com free college scholarship search where you’ll discover you qualify for hundreds of thousands of dollars in scholarships in just a few minutes, then apply and win! It’s that easy!

Comments (12)

Talk is Cheap. College Isn't.

New Policy to Eliminate Pell Grants, Federal Loans, Tuition Tax Credits

Feb 23, 2016

by Susan Dutca

Talk is cheap when it comes to politicians' promises, but one thing that remains expensive is a college education. From vetoing a scholarships bill that would free up $721 million for community colleges and scholarships for low-income students, to killing the Senate Bill 180 which would require the New Mexico Lottery to provide $41 million to a college scholarships fund there has been no resolution to the budget stalemate since July 1, 2015. New America Higher Education has one resolution: out with the old, in with the new. That means removing federal loans, federal tuition vouchers, Pell grants, and tuition tax credits.

In their policy paper, "Starting from Scratch: A New Federal and State Partnership in Higher Education," New America Higher Education expressed their vision to reconstruct and repair the "broken system of financing higher education." The team plans to scrap the archaic system and replace it with a "federal-state financial partnership" where the government would dole money to states, which would go to colleges and universities - taking into account important factors such as enrolled low-income students. Students would only have to pay their Expected Family Contribution (EFC) and the state would be held accountable for student outcomes such graduation rates and securing employment. In addition to lowering tuition, the cost of living expenses such as room and board, transportation, and childcare costs would be lowered.

/HTMLCHUNK_29/

States would have to maintain their current funding as provided in their individual budgets, match federal funding by 25 percent, and be responsible for performance and costs. There would be a bonus to states that contribute more than expected and also, a bonus for colleges who enroll more than 25 percent of low-income students. What's the catch? The plan would cost roughly $38 billion annually, and states would have to contribute an additional $17.9 billion. The existing system has left about 7 million borrowers in default with their student loans and the report claims that "going to college has left them in a much worse position than if they had never enrolled."

The partisanship disaster continues as colleges and universities haven't received "operating money from the state since July 1," according to Celeste Bott of the Chicago Tribune. The MAP grant provides up to $5,000 in financial aid to students who demonstrate need, according to the Illinois Student Assistance Commission. Some claim the scholarships bill would snag money from social service providers who provide care for the state's "most vulnerable residents," or that states simply do not have the money to spend. Governor Rauner agrees that the school funding formula needs to be changed.

/HTMLCHUNK_30/

Do you support New America's Higher Education proposal? Leave your thoughtful comments below. Don't wait another day - take advantage of the available scholarships and learn more about grants and financial aid today.

And don't forget, you should pay for your college education with as much free money as possible! Find as many scholarships and grants as you can before turning to student loans. Visit the Scholarships.com free college scholarship search today where you'll get matched with countless scholarships and grants for which you qualify, then apply and win! It’s that easy!

Comments (27)

Undocumented Students Fighting for More Financial Aid, Scholarships

Feb 16, 2016

by Susan Dutca

Between her coursework and political activism, Bernarda Elizabet Garcia actively fights for immigrants' rights, especially when it comes to funding higher education. As a scholarship recipient of the Mario Savio Lecture Fund's Young Activist Award, Garcia is a powerful and influential voice in her community through her advocacy for extending federal financial aid to undocumented college students by "improving the quality of life through immigration reform and education." Though there currently are not many government policies that give financial assistance to undocumented students for higher education, there are other organizations that are dedicated to helping those students pay for a college education.

There are roughly 11.2 million undocumented immigrants living in the United States, with 2.1 million potentially eligible for the most recently proposed federal DREAM Act. Only 7,000-13,000 undocumented students are enrolled in college in the United States. According to College Board, college tuition and fees for full-time students at a public four-year institution (in-state) was roughly $19,548 per year in 2015-2016. For out-of-state tuition at a public school, the cost was $34,031 and tuition at a private nonprofit cost, on average, $43,921 in the same year. Without financial aid, it is nearly impossible to afford a college education, especially when many undocumented students come from low-income households.

Though there is no federal or state law that prohibits undocumented students from being admitted or attending U.S. colleges, government policies pose a barrier, as undocumented students do not have access to federal financial aid or Pell grants. However, Georgia, along with Alabama and South Carolina, plan to implement a policy that would ban illegal students from being admitted to their colleges. Just earlier this month, Georgia's Supreme Court rejected an appeal for lowering the in-state tuition for undocumented students. According to Education Reporter Lauren Foreman, following Georgia's decision, eight students from Georgia State University were arrested after refusing to leave a protest. The DREAM Act, a bipartisan legislation introduced in Congress in 2001, failed to pass even after countless reintroductions and a big push in 2010. The goal of the act was to create a pathway to citizenship for undocumented children who grew up in the US. However, all state DREAM Acts are different and are not synonymous with DACA, which is a policy that was created in 2012 by President Obama to grant deferred deportation to those under 31 years of age who came to the U.S. when they were younger than 16.

Another controversial topic is whether or not undocumented students should be eligible for lower tuition - tuition that state residents pay when attending in-state universities and colleges. Currently, the majority of schools charge undocumented students out-of-state tuition. According to the National Immigration Law Center, at least twenty states have passed tuition equity bills that allow undocumented students to pay the same tuition as their classmates, regardless of their immigration status (certain criteria must be met to qualify). Based on the laws passed by these states, there is a general consensus that the state does not "lose revenue from the number of students who would otherwise pay out-of-state tuition," but rather, "it raises the percentage of high school graduates who pursue a college degree."

Organizations such as the Mexican American Legal Defense and Educational Fund and TheDream.US are dedicated to helping undocumented students earn scholarships to pay for college, regardless of immigration status. Be sure to check with your current or prospective university or college to see what funding opportunities you are eligible for, if you are an undocumented student. Check out our scholarships for undocumented students and scholarships for which you qualify today to help fund your college education.

And remember, there’s no need to rely on expensive student loan options to pay for your college education. For more information on finding free scholarship money for college, conduct a Scholarships.com free college scholarship search today, then apply and win! It’s that easy!

Comments (15)

February is Financial Aid Awareness Month

Feb 4, 2016

by Susan Dutca

What makes February so lovely? It is Financial Aid Awareness Month, and since filling out the FAFSA is stressful - much like taxes - several higher education institutions and financial aid organizations have jumped on board to provide informational sessions for families and students as they navigate through, and apply for financial aid through the 2016-2017 FAFSA. According to the National Center for Education Statistics, the percentage of students applying for, and receiving financial aid for their college education at a four-year-degree-granting institution has increased from 80% to 85% from 2007-08 to 2012-2013. Because of this, the National Association of Student Financial Aid Administrators (NASFAA) will be hosting a new topic weekly through a social media campaign that allows parents and students to ask questions about the FAFSA. To participate, NASFAA asks families to send their questions via Twitter using the hashtag #FinAidFeb to receive tips and advice, as well as the common mistakes to avoid. The social media campaign will take place on Wednesday, February 3rd from 7-8 pm ET and Friday, February 5th from 1-2 pm ET. Those interested can simply follow @NASFAA on Twitter or visit them at their website for full schedule and details.

According to the Salisbury Post, help is on the way on "FAFSA Day" at Catawba's College Library, where financial aid officers and specialists are working with seniors and their families to complete the FAFSA. Between February 22 and February 26, local North Carolina State Employee Credit Union branches will also help students complete their FAFSA. Waubonsee Community College in Sugar Grove, IL is holding a similar series of events throughout February. In light of "FAFSA Frenzy", the Missouri Department of Higher Education is calling for an effort to educate and assist prospective college students, and Webster University is offering sessions on February 28 on its home campus, as well as at its St. Louis region on February 6 and 20. According to the school's statistics, more than 80% of its student population receives financial aid. The college is providing incentive for attending the event by offering attendees the chance to win a scholarship.

When attending any FAFSA informational session, bring your 2015 W-2 forms, and copies of your 2015 tax forms, if they're ready. If you haven't filed your 2015 returns yet, bring any statements of interest earned in 2015, any 1099 forms and other forms necessary to complete your taxes. Later on you may need to go back to your FAFSA and make corrections once the tax returns are filed. The IRS Data Retrieval Tool will help you make accurate corrections within a few weeks of your tax file date.

Tro Onink, CEO of Stratagee and an expert in financial planning, cautions parents about IRA contributions for 2015.Though it may lower tax bills for 2015, it affects the children's financial aid eligibility for the 2016-2017 year. As explained by Onink, individual retirement account (IRA) contributions is factored back to the adjusted gross income (AGI) when financial formulas are used to determine student's financial aid eligibility. When the expected family contribution is calculated, IRA contributions are factored into the adjusted gross income, plus HAS, 401k, 402b and other retirement contributions. He cautions that these formulas would "presume that they [parents] have used that money they're setting aside for retirement to pay for college instead." On the upside, you do not have to record the value of the IRAs as an asset. So what's Onink's main advice? If for example, you invest $10,000 into retirement plans in 2015, your children's financial aid amount could decrease by $2,500 in 2016-2017. Essentially, when you make an IRA contribution, you will be paying more than half the amount you save in taxes when it comes to college expenses. He advocates to save for retirement but be cautions that "just because your adjusted gross income is lower, your income for financial aid purposes will be inflated."

Read more on Financial Aid Information and Financial Aid tips this season as you fill out your FAFSA and don't forget to see how you can supplement federal aid with free money in scholarships.

Credit is attributed to Troy Onink, who has been featured by Forbes, InvestmentNews, myStockOption

Going to college doesn't have to break the bank or saddle you with tens of thousands of dollars in student loan debt. Check out the Scholarships.com free college scholarship search where you’ll discover you qualify for hundreds of thousands of dollars in scholarships in just a few minutes, then apply and win! It’s that easy!

Comments (6)

Netflix, Facebook Founders to Dole Out Billions for Education Reform

Jan 14, 2016

by Susan Dutca

New year, new initiatives; funded by big name billionaires. Many college students may spend time perusing Facebook or enjoying popular hit series on Netflix such as House of Cards or Orange is the New Black, but the big dogs who founded these entertainment mediums are coming out with greater initiatives: focusing to improve education.

The phrase "the more you have, the more you want" never resonated well with 31-year-old billionaire and Facebook CEO Mark Zuckerberg, and Netflix Cofounder and CEO Reed Hastings isn't a big fan of school boards. What do these big shot billionaires share in common? A strategic plan to invest big money in the nation's future education.

Netflix and...Education

Most people are more familiar with the name Netflix than they are that of the man behind it, Reed Hastings - but that could be about to change. Hastings recently took to Facebook to announce a $100,000,000 philanthropic endeavor: the Hastings Fund. The fund will focus on children's education, as reported by Senior Writer Ben Fox Rubin from CNET News. Hastings has served as President of the Technology Network, served on the California Board of Education for four years, donated $1 million to Proposition 39, and much more. In addition, he has also been part of other academies and programs dedicated to developing teaching videos, with a primary concern of growing high-quality charter schools and developing technology that could transform education. He admits he was never "good at following orders," and volunteered for the Peace Corps. in Swaziland, foregoing the opportunity to "buy yachts" in favor of improving K-12 education and trying to "figure out why our education is lagging when technology is increasing at great rates..." Offering a long-term solution would come from expanding charter schools was his intention while attending Stanford. Netflix got in the way, and Hastings never graduated from Stanford, but his education initiatives and dreams lived on. CNET News reports The Hasting Funds' first two gifts will be given to the United Negro College Fund and to the Hispanic Foundation of Silicon Valley, a "total of $1.5 million to support the education of black and Latino college education." Forbes estimates Hasting's net worth surpasses $1 billion, including $900 million in Netflix stock and options.

Facebook CEO Giving $45 billion for Education

Inspired by the birth of their daughter, Max, Facebook CEO Mark Zuckerberg and his wife Priscilla Chan announced a new initiative to dole out 99% of their Facebook shares - valued at $45 billion - throughout their lifetime to the Chan Zuckerberg Initiative. The world's largest social media CEO intends to "improve this world for the next generation," according to Zuckerberg. Furthermore, he claims the mission to change the world is a "basic moral responsibility to tilt our investments." Primary areas of focus will be on personalized learning, curing disease, connecting people and building strong communities, according to the couple's open letter to their newborn daughter, Maxima.

The organization would be a limited liability company (LLC) as opposed to a traditional philanthropic organization. Though inspired by the $41 billion Bill and Melinda Gates Foundation, it differs in that the Gates Foundation is structured as a tax-exempt, non-profit foundation and charitable trust, and is a 501 (3)(c). The Gates Foundation is not only well-known for its profits but for its efforts battling global poverty, the spread of deadly curable diseases, and improving education overall. Though Zuckerberg has a different philanthropic approach from the Gates Foundation, Gates commented that, "As for your decision to give back so generously, and to deepen your commitment now, the first word that comes to mind is: Wow. The example you're setting today is an inspiration to us and the world."

There has been skepticism and criticism in Zuckerberg's choice of structure, as it could potentially maneuver around legal structures and tax strategies. In response to criticism, he claims "The beauty of having an LLC in today's world is No.1, you have the ability to act and react as nimbly as need be to create change." Zuckerberg, for example, would be able to make political donations and is not required to give 5 percent of its value annually. Regardless of how the funds are allocated, the couple's focus is to gradually seek long-term solutions as opposed to pouring all money into one issue, as evidenced by Zuckerberg in his letter to his daughter;" We must make long-term investments over 25, 50, or even 100 years...the greatest challenges require very long time horizons and cannot be solved by short-term thinking."

Do you support or oppose this initiative by top CEO's when it comes to education? Leave us your thoughtful comments below.

Going to college doesn't have to break the bank or saddle you with tens of thousands of dollars in student loan debt. Check out the Scholarships.com free college scholarship search where you’ll discover you qualify for hundreds of thousands of dollars in scholarships in just a few minutes, then apply and win! It’s that easy!

Comments (16)

1 2 3 4 5 6 7 8 9 10 > >>
Page 1 of 15

Recent Posts

Tags

ACT (20)
Advanced Placement (24)
Alumni (17)
Applications (90)
Athletics (17)
Back To School (80)
Books (67)
Campus Life (471)
Career (115)
Choosing A College (65)
College (1025)
College Admissions (257)
College And Society (333)
College And The Economy (381)
College Applications (152)
College Benefits (292)
College Budgets (219)
College Classes (451)
College Costs (503)
College Culture (613)
College Goals (389)
College Grants (54)
College In Congress (91)
College Life (590)
College Majors (228)
College News (623)
College Prep (169)
College Savings Accounts (19)
College Scholarships (163)
College Search (122)
College Students (496)
College Tips (133)
Community College (59)
Community Service (40)
Community Service Scholarships (28)
Course Enrollment (19)
Economy (122)
Education (29)
Education Study (30)
Employment (42)
Essay Scholarship (39)
FAFSA (55)
Federal Aid (102)
Finances (71)
Financial Aid (419)
Financial Aid Information (61)
Financial Aid News (59)
Financial Tips (41)
Food (45)
Food/Cooking (28)
GPA (80)
Grades (91)
Graduate School (56)
Graduate Student Scholarships (21)
Graduate Students (65)
Graduation Rates (38)
Grants (63)
Health (38)
High School (135)
High School News (76)
High School Student Scholarships (185)
High School Students (320)
Higher Education (115)
Internships (526)
Job Search (179)
Just For Fun (122)
Loan Repayment (41)
Loans (50)
Military (16)
Money Management (134)
Online College (21)
Pell Grant (29)
President Obama (24)
Private Colleges (34)
Private Loans (20)
Roommates (100)
SAT (23)
Scholarship Applications (165)
Scholarship Information (179)
Scholarship Of The Week (272)
Scholarship Search (221)
Scholarship Tips (89)
Scholarships (405)
Sports (63)
Sports Scholarships (22)
Stafford Loans (24)
Standardized Testing (46)
State Colleges (43)
State News (36)
Student Debt (86)
Student Life (513)
Student Loans (142)
Study Abroad (68)
Study Skills (215)
Teachers (94)
Technology (111)
Tips (514)
Transfer Scholarship (17)
Tuition (93)
Undergraduate Scholarships (37)
Undergraduate Students (155)
Volunteer (45)
Work And College (83)
Work Study (20)
Writing Scholarship (19)

Categories

529 Plan (2)
Back To School (385)
College And The Economy (566)
College Applications (275)
College Budgets (361)
College Classes (594)
College Costs (817)
College Culture (1003)
College Grants (150)
College In Congress (152)
College Life (1059)
College Majors (355)
College News (1034)
College Savings Accounts (59)
College Search (404)
Coverdell (1)
FAFSA (125)
Federal Aid (157)
Fellowships (25)
Financial Aid (741)
Food/Cooking (79)
GPA (281)
Graduate School (109)
Grants (81)
High School (574)
High School News (268)
Housing (175)
Internships (580)
Just For Fun (248)
Press Releases (24)
Roommates (144)
Scholarship Applications (245)
Scholarship Of The Week (371)
Scholarships (676)
Sports (80)
Standardized Testing (62)
Student Loans (232)
Study Abroad (63)
Tips (873)
Uncategorized (7)
Virtual Intern (571)