“We are excited about the broad applications for SponsoredScholar, including fundraising for tuition, scholarships, and eventually student loan repayment,” said Gregg Scoresby, CEO of CampusLogic. “Cost is a major barrier to higher education for many students. This innovative fundraising component is one more way we can help schools improve student access, inform borrowing decisions, and increase completion.”
In Finding a Fit: The Evolution of Student-Centric Financial Aid, Tyton Partners stated that an estimated 3 million college students drop out every year for reasons related to finances. Microgrants have continued to gain traction, with Inside Higher Ed reporting that funding amounts as small as $300 can help a student stay in school and persist toward degree completion. Innovative fundraising approaches like SponsoredScholar help students gain access to such funds in an easy, mobile, personalized way.
“Think of this as GoFundMe® for colleges and universities, embedded seamlessly into each student’s awarding experience,” Scoresby explained. “As with all components of the CampusLogic platform, SponsoredScholar will leverage the brand strength of our customers’ logos and colors—and all funds raised will go directly to the institution on behalf of the student.”
“We are incredibly excited that CampusLogic, the leading Student Financial Success company, has seen the value and potential of Funderbolt,” said Ross Sylvester, CEO of Funderbolt. “CampusLogic has a big vision to unlock new tuition funding sources for students and scholarship fundraising opportunities for schools. We can’t wait to be part of the team.”