ÌÒ×ÓÊÓÆµ

ÌÒ×ÓÊÓÆµ Community
The Future for Micro-Scholarships is Bright

The Future for Micro-Scholarships is Bright

In 2011, I had the opportunity to do a brief stint teachingÌýhistory and economics toÌýhigh school juniors andÌýseniors.ÌýIt was an incredible experience working with a diverse group of students, many of whom came from challenging backgrounds. Despite the manyÌýobstaclesÌýthrown their way early inÌýlife, these students displayedÌýresilience and a contagious enthusiasm for the future. It was a joy and honor of a lifetimeÌýto serve as their teacher for this brief period, and while I’m sure most of them have forgotten me by now, I will never forget them and the lasting impact they had on me.ÌýÌýÌý

Ìý
ÌÒ×ÓÊÓÆµÌýwas born from this experience, from conversations I had withÌýmyÌýstudents as wellÌýasÌýhundreds of college counseling professionals and college administrators over the ensuing year. At the crux of the idea was a simple observation: though billions of dollars of financial aid are being awarded each year to help students pay for college, these dollars aren’tÌýtypicallyÌýawarded until after students are supposed to have already decided whether and where to apply to college. For students, this is often too late to impact their college ambitions and application decisions, and for colleges it means that they are missing out on an opportunity to maximize the impact of their aid resources. The idea behindÌýÌÒ×ÓÊÓÆµÌýwas to flip this model on its headÌýbyÌýgivingÌýstudentsÌýthe opportunity to accrueÌýcollegeÌýscholarshipsÌýas they progress throughout high school based on their achievement of specific college readiness milestones.ÌýÌýÌý

In theory, thisÌýcouldÌýcreate a much more transparent, motivating, and empowering system for students, while also giving colleges an opportunity to dramatically increase the impact of their aid.ÌýAdditionally,ÌýparticipatingÌýcollegesÌýwouldÌýhaveÌýan opportunity to engage prospective studentsÌýas early as 9thÌýgrade. They can use this opportunity for connection toÌýincentivize the college readiness behaviors they’ve seen prepare students for their school, foster a more diverse applicant poolÌýthrough a more targeted use of funds, and ultimately helpÌýallÌýprospective students see past theÌýcollegeÌýÌýstickerÌýprice earlier in their journey.ÌýÌý

In 2013, we launched our first pilot of theÌýprogram,Ìýgiving students the opportunity to earnÌý“micro-²õ³¦³ó´Ç±ô²¹°ù²õ³ó¾±±è²õâ€�ÌýasÌýtheyÌýprogressedÌýthrough high school,Ìýrather thanÌýasÌýone big lump sum upon admittance.ÌýFrom the get-go, the program received great reviews from students, counselors, and collegesÌýalike, and won multiple awards such as the Gates Foundation-sponsored College Knowledge Challenge.ÌýÌý

StudentsÌýsharedÌýtheir excitement about seeingÌýhow their hard work in high schoolÌýwasÌýrewarded by colleges. High school counselors shared theirÌýexcitement aboutÌýhaving a new college readiness tool that could help teach students aboutÌýinstitutionalÌýscholarships,Ìýwhile also motivating theirÌýstudentsÌýto stayÌýon track for college. Finally, colleges loved the idea ofÌýengaging with students earlier, andÌýwere excited to see the diversity of students participating in the program. AsÌýthe companyÌýscaled,ÌýweÌýworked diligently toÌýrespond to user feedback andÌýharvestÌýlearnings from academic research to iterate on and improve the platform,Ìýwhile also scaling to meet theÌýgrowingÌýdemandÌýfrom students, educators, and universities.ÌýÌý

OverÌýthe past seven years,Ìýthe platformÌýhasÌýgrownÌýtremendously:ÌýÌÒ×ÓÊÓÆµÌýhasÌýÌýserved over 2.5 million students who have received over $6 billion in scholarships. In that time, weÌýhaveÌýÌýbrought on over 300 college and university partners, while alsoÌýintroducingÌýcountless new college discovery and financial aidÌýcomparison features, a mobile app for iOS, and a platformÌýfor community collegeÌýand transferÌýstudents.Ìý
Ìý

This spring,ÌýCampusLogicÌýapproached us with an offer to put our organizations together.ÌýThis appeared to be a great opportunity to bring together two of the leading champions for Student Financial Success. By combiningÌýÌÒ×ÓÊÓÆµ, which primarily focused on pre-college financial and academic readiness, andÌýCampusLogic, which focused on supporting students during theirÌýhigher edÌýjourney, the combined organization would be uniquely capable of supporting students bothÌýtoÌýandÌýthroughÌýcollege.ÌýÌý

As the exploration progressed, it became clear that the strengths of our two organizations could drive an even larger impact for students and college partners. WithÌýÌÒ×ÓÊÓÆµ’sÌýmicro-scholarship platform driving empowerment and motivation for students via pre-committed financial aid, andÌýCampusLogic’sÌýmarket-leading Student Financial Success solutions driving ease and clarity inÌýcollege financing, we’ll be able to create new, tightly integrated experiences together that unlock massive potential for students and institutions alike.Ìý

As we come together to meet theÌýhigher education challengesÌýof today, it’s criticalÌý— for the success ofÌýstudents, for the institutionsÌýservingÌýthem, and for our nation as a whole —Ìýthat students from all backgrounds have a clear and affordable path to college. We look forward to working with our current partnersÌýand the newÌýpartnersÌýwe’ll be welcoming in the years ahead to reimagine the student financial journey and make sure that every student has a shot at the American Dream.ÌýÌý

Follow ÌÒ×ÓÊÓÆµ on Social!