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Thousands of students are using GoFundMe to pay for college expenses

St. Olaf College students

When bank loans and personal savings run thin, thousands of students are turning to an unlikely source to pay for college: crowdfunding.

New data released by GoFundMe, the crowdfunding site launched in 2010, finds that within the last three years more than 100,000 campaigns have raised over $60 million in donations, strictly to pay for higher education. Most of the campaigns focus on incidentals, such as textbooks, housing deposits, and airfare to study abroad.

Rob Solomon, GoFundMe’s CEO, says the trend indicates that students increasingly need relief from expenses as their tuition costs continue to soar.

“There’s this misconception out there read more >>>

Source:: BusinessInsider.Com