'FinanceU' is an App That Help Students Build Their Own Scholarship
Katherine Pendrill — June 4, 2015 — Social Good
References: financeu.org & kickstarter
'FinanceU' is a new crowdfunding scholarship app that helps students finance their eduction by giving them the tools to build their own scholarship. With many students unable to access traditional scholarship money, FinanceU offers a community-based platform for students to find alternative means of funding the purist of higher education.
FinanceU works by allowing students to start their own online scholarship fund free of charge. FinanceU helps each student to tailor their scholarship page in a way that showcases their work experience, academic achievements and other talents to share this information with contacts in the student's social networks. Donors can then help to support these scholarship funds through customized donations.
To avoid the issue of the money raised being used for other purposes, FinanceU will send the funds directly to the University in the name of the student. The system is designed to benefit students by giving them a free platform for raising scholarship money, while also giving donors the confidence that their donations are being used only for educational expenses.
FinanceU works by allowing students to start their own online scholarship fund free of charge. FinanceU helps each student to tailor their scholarship page in a way that showcases their work experience, academic achievements and other talents to share this information with contacts in the student's social networks. Donors can then help to support these scholarship funds through customized donations.
To avoid the issue of the money raised being used for other purposes, FinanceU will send the funds directly to the University in the name of the student. The system is designed to benefit students by giving them a free platform for raising scholarship money, while also giving donors the confidence that their donations are being used only for educational expenses.
Trend Themes
1. Crowdfunding Scholarship Apps - Disruptive innovation opportunity: Develop an AI-powered crowdfunding platform specifically for scholarships to streamline the funding process for students.
2. Alternative Funding for Higher Education - Disruptive innovation opportunity: Create a platform that connects students with alternative funding sources such as sponsorships or grants to expand access to higher education.
3. Personalized Scholarship Pages - Disruptive innovation opportunity: Build a platform that allows students to create personalized scholarship pages that highlight their unique skills and accomplishments to attract donors.
Industry Implications
1. Edtech - Disruptive innovation opportunity: Develop educational technology solutions that leverage crowdfunding and personalization to address financial barriers to education.
2. Fintech - Disruptive innovation opportunity: Create financial technology tools that simplify the process of donating to scholarships and ensure funds are used exclusively for educational expenses.
3. Social Networking - Disruptive innovation opportunity: Build social networking platforms that facilitate connections between students and potential donors for crowdfunding scholarship initiatives.
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