Students Turn To Crowdfunding Sites To Help Cover School Costs

"Crowdfunding websites are slowly becoming a new way to pay for college costs," The Herald-Sun reports

"On the GoFundMe site alone, there are Durham-based students hoping to travel to the University of Oxford in England to study religion, participating in a Duke teaching program and looking for ways to fund a UNC study abroad trip to Costa Rica.

These people are relying on the kindness of friends, family and strangers. Not all campaigns are successful. Some students only raise a fraction of their fundraising goal and others miss their college financial deadlines due to lack of funding.

Justin Draeger, president and CEO of the National Association of Student Financial Aid Administrators, said it may be too soon to tell if this fundraising method catches on with college students. '... It’s really about just using technology to do what students have done for a really long time, which is look around in their immediate family and circle of friends and say, Who would be willing to help me basically pay for college?'"

Relying on strangers online to funnel money into a cause without any oversight is new from the association’s perspective, Draeger said.

'I don’t know if it’s too early to call it a trend or a fad,' he said. '... It’s really about just using technology to do what students have done for a really long time, which is look around in their immediate family and circle of friends and say, Who would be willing to help me basically pay for college?'"

 

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