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Gladys Cortes, one of the youth from low-income families hoping to attend college that is part of the CollegeSet program. (John McNeil Studio)
NEW YORK—Eighteen-year-old high-school senior Corey Scott hopes to work in the news industry and perhaps be on television. To achieve his goal, Scott believes the first step is studying broadcasting and journalism in college.
“[A college education] is so important because there are things that I really want to do in my life, and it opens up more doors for me, it opens up my mind,” said Scott, who wants to attend the College of Saint Rose in Albany. “I can … learn new things about others. I can be a better person, rather than just an ordinary one.”
Like many underprivileged students, he faces a daunting financial aid and scholarship application process and prospective loans that he will be forced to pay throughout and after college.
Luckily, Scott, who is currently enrolled at Frannie Lou Hamer Freedom High School in the Bronx, was approached by his teacher about CollegeSet, a new program designed to help fund his tuition through direct donations.
Anyone can browse through the thumbnail photos of underprivileged youth on CollegeSet.org, scroll through their dreams and aspirations, their current circumstances and achievements, and drop cash into their bank accounts to give them a hand up the ladder.
Donors can also follow the progress of the students through the online interface.
It isn’t a free ride though. In addition to connecting students with donors, CollegeSet teaches students to earn on their own, save, and make the most of their savings.
Tulio Santos, another youth with high aspirations from a low-income family. (John McNeil Studio)
The money donated will match a student’s own saving goals dollar for dollar, up to $500. For example, if a student saves up $200, they can receive $200 in funding from donors. A student must, however, reach his or her savings goal to be able to access the funding from donors.
While a maximum of $1,000 in savings and donation does not seem sufficient to cover college expenses, CollegeSet also awards students $250 for each milestone they complete on their path to receiving a four-year college degree, such as when they complete their free application for federal student aid, when they get accepted by a college, and when they enroll in college.
The program was funded by Black Rock, an investment management corporation, with a $2 million grant to carry out the initiative over two years. The goal is to help 1,000 students in the duration of these two years.
Although CollegeSet is only available to students in New York City and the San Francisco Bay Area at the moment, Chief Development Officer for CollegeSet Nick Hutchinson explains that the program is likely to expand to other cities in coming years.
“It’s going to make it easier for me to get the tools and necessities that I need for college,” said Scott. “If I take a journalism class and I need a special type of notebook, and I don’t have the money to get it, CollegeSet will be right there in the account that I set up to fund it.”
