college tuition

The surprising new way students are paying for college


Social fundraising is enabling many students to meet their tuition goals in order to attend college.

In the face of rising college costs comes a somewhat surprising funding trend: students are increasingly turning to GoFundMe, a social fundraising platform that allows anyone to contribute to funding campaigns on the site.

“In 2016-17, average published tuition and fee prices for in-state students at public four-year institutions range from $5,060 in Wyoming and $6,360 in Florida to $15,450 in Vermont and $15,650 in New Hampshire,” according to College Board data cited in a new college funding guidebook from GoFundMe. Those costs increase for out-of-state students.

Since 2014, more than 130,000 GoFundMes have raised $60 million from over 850,000 donations for college tuition and related campaigns.

Among the top states where students raise college funds on GoFundMe are California, with 15,338 campaigns raising $8.3 million; Texas, with 10,152 campaigns raising $4.6 million; and New York, with 6,844 campaigns raising $4.2 million.

(Next page: Standout college tuition GoFundMe pages; additional financial pressures)

Standout campaigns include Khalil Bridges’ College Fund and E-Jayy!.. “From COMPTON 2 HARVARD!”

The guidebook also offers students advice to help them create a catchy GoFundMe page to raise funding for college.

Tips for a successful GoFundMe for tuition include:
1. Sharing accomplishments and hard work
2. Adding expenses, such as a laptop or books, as “wish list” items
3. Spreading the word to friends and family
4. Posting frequent updates and photos
5. Showing appreciation for friends and family who offer support

GoFundMe attributes tuition campaigns’ success to the rising cost of college and the challenges many families face as they struggle to help their children pay for higher education. Student loan reform has dominated discussions in the past few years, with many lawmakers advocating for a reformed system that would not burden students with crippling debt upon graduation.

Tuition is not the only expensive part of the college experience. The Urban Institute issued a January 2017 report noting that skyrocketing living expenses contribute to declining college affordability:

1. Room and board charges at four-year colleges have outpaced inflation, doubling since 1980 (in
inflation-adjusted dollars)
2. Living costs have contributed to declining college affordability
3. Room charges have increased more than board charges at both public and private colleges
4. Room prices and market rents have converged in recent years
5. Room and board charges do not capture living costs faced by off-campus students

 

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Laura Ascione

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