Donations for College Students

In addition to savings, jobs, loans and scholarships, there are other more creative ways to pay for college. You may have heard of students who have started their own websites to get donations. Unfortunately, most of these aren’t successful, but it doesn’t hurt to try. One person just asked for a nickel from each donor, and actually received a substantial amount of money.

If you don’t have the time or experience to set up your own website, there are some that are specially geared to collect donations for you. One example of this is: http://www.sponsormydegree.com/. You are asked to register and make a profile. When you wish to withdraw money, you notify them of the amount, and they send it directly to your school where it is applied to your tuition. You are charged a $5 processing fee. Five percent of each donation is deducted for credit card fees and site maintenance.

Another website which is geared to collecting donations to pay off student loans is Lily’s List (http://lilyslist.com/).  As with the other sites, you register and set up a profile. Money collected is applied directly to college loans. It’s a convenient way for relatives and friends to help you pay for your college education. The membership fee is $15, and $2.75 of each donation is charged for processing fees.