Schools Training

Raise.me Is Helping Students Receive ‘Micro-Scholarships’ to Pay for College

19 JAN 2016
Career Path : Education News
iStock_000075992309_Small

Education start-up Raise.me has begun offering ‘micro-scholarships’ to students in order to help them pay for college—before they get to college. Cofounder and CEO of Raise.me Preston Silverman explains the trouble with traditional scholarships:

“The problem we’re seeking to solve is that every year in the US, we’re awarding billions of dollars to help students pay for college — but usually not until the end of their high school career, in the second semester of senior year,” Silverman states. “That’s after they’re supposed to have decided if they can afford it. For many students, the money is awarded too late to impact where they choose to apply or whether they apply at all.”

How does Raise.me work?

First and foremost, schools must register to be a part of Raise.me. When they register, U.S. colleges and universities must define:

  • Which achievements warrant a micro-scholarship to their school
  • Who is eligible to earn a micro-scholarship
  • The value or worth of each achievement

Once this criterion has been established by the institution, potential students could register, submitting their candidacy for a micro-scholarship. Should an eligible student be accepted to his or her school of choice, any micro-scholarship that was promised by the school will be granted. However, admission to an institution is not guaranteed, even if a student has been granted a micro-scholarship by said institution.

Source: Business Insider