Scholarship News

Is GoFundMe College Funding Going Too Far?


March 14, 2017 10:49 AM
by Susan Dutca-Lovell
Although many students admit they're embarrassed to ask for money, crowdfunding has proven to be successful for students with the help of friends, families, colleagues and even strangers.

Although many students admit they're embarrassed to ask for money, crowdfunding has proven to be successful for students with the help of friends, families, colleagues and even strangers.

America's education debt is no joke. With a $1.3 trillion debt crisis, the average student in the Class of 2016 having $31,172 in student loan debt, and over 3.8 million students defaulting on their loans, students have turned to crowdfunding options such as GoFundMe. While GoFundMe charges a 5% fee for each donation in addition to a 2.9% processing fee, the fees are "subtracted from the campaign total, rather than being tacked on." Even with the fees, some students have still managed to raise over $20,000.

One immigrant student, Carlos A. Roa Jr. raised over $12,000 and graduated with a degree in architecture from the Illinois Institute of Technology. Another student actually created a GoFundMe campaign for her roommate, Daniella, when she found out she had to drop out of Texas A&M until she could afford it. Daniella was able to receive $3,500 in donations in five days. Fred Gaddy's mother set up a GoFundMe for her son and raised over $6,000; enough to let him return to class and get one step closer to graduation.

To help students navigate the crowdfunding option, GoFundMe created a guidebook. GoFundMe CEO Rob Solomon stresses that crowdfunding shouldn't "replace financial aid and scholarships, but as a 'complement'". Critics, such as Washington Post columnist Michelle Singletary, believe that, though trendy, crowdfunding "ignores the root causes of problems and instead funnels money only toward people with compelling narratives." Do you think crowdfunding is a good source for paying for college? Why or why not?

Just because there are millions of college scholarships out there doesn’t mean you have time to go searching, and many won’t even match your profile. We’ve done the work and Scholarships.com is totally free. We have the search algorithms and scholarships database, saving you time in searching, finding and applying to thousands of dollars in college scholarships. Get instantly matched to scholarships that meet your unique talents, skillset and strengths, only those you qualify for. Access a complete list of college scholarships now by conducting a free college scholarship search at Scholarships.com.

Discuss

Share your thoughts and perhaps thousands of students will benefit from your unique insight on the subject!



If you can read this, don't touch the following fields


 

pamelal  on  4/27/2017 7:30:03 PM commented:

No it is not going to far I have a gfm page set up if you would like to donate

Zyanna D.  on  3/14/2017 4:51:40 PM commented:

GoFundMe can is a good source to pay for college because just like for scholarships, you may have to write an essay explaining why you think you deserve that scholarship. People then read your essays and choose who to give the money to. Through social media's, your audience are your peers and you need to find a way to convince them to give you money. Therefore if you write a really compelling essay, you're more likely to get more money. Same thing with scholarships, based on your writing skills, will determine the amount of money you receive.

Trace F.  on  3/14/2017 3:16:46 PM commented:

Er. This article explicitly mentions that the root problem is no crowd funding itself, and then goes on to question its use. When the rest of the system is unreliable and not supporting students as it should, are we meant to demonize one of the only effective support systems instead of demonizing an infrastructure designed so that students have no stability and their futures are constantly threatened by debt? This is a terrible post and entirely vapid. I can't imagine it was entirely thought through.

When you apply to a college, it is important to consider not just what you’ll include in your application but also when you’ll submit it. About 450 colleges offer Early Decision applications, and for many schools their Early Decision deadline is November 1st. How does Early Decision work, and how has the coronavirus impacted it?

Early Decision Deadlines Around the Corner

October 27, 2020 2:28 PM
by Izzy Hall
When you apply to a college, it is important to consider not just what you’ll include in your application but also when you’ll submit it. About 450 colleges offer Early Decision applications, and for
At Scholarships.com, we help students find scholarships to pay for college tuition. But what if you didn’t have to pay tuition? There are a handful of schools in the U.S. that are tuition-free, meaning that while students may have to pay for room and board or meal plans, they do not have to pay tuition to attend the college. On the flip side, tuition-free schools may require students to work alongside their studies or, for military academies, to enlist upon graduation.

Free College? Check Out These Tuition-Free Schools!

October 15, 2020 2:34 PM
by Izzy Hall
At Scholarships.com, we help students find scholarships to pay for college tuition. But what if you didn’t have to pay tuition? There are a handful of schools in the U.S. that are tuition-free,
Rap artist Megan Thee Stallion has partnered with Amazon Music’s Rap Rotation to launch the “Don’t Stop” $10,000 scholarship. Megan Thee Stallion, who has had two #1 hits just this year, wants to honor all women who “don’t stop working hard” even through tough times to complete their education. The scholarship is open to all women of color around the world who are currently enrolled at an institution of higher education and are seeking an associates, bachelor’s or graduate degree in any discipline. Two winners will receive $10,000 each. A college student herself, Megan Thee Stallion is passionate about the “transformative power of education” and advocates on behalf of all women pursuing college degrees.

Check out Megan Thee Stallion’s New Scholarship!

October 9, 2020 3:23 PM
by Izzy Hall
Rap artist Megan Thee Stallion has partnered with Amazon Music’s Rap Rotation to launch the “Don’t Stop” $10,000 scholarship. Megan Thee Stallion, who has had two #1 hits just this year, wants to