Brief

'Micro-scholarship' platform Raise.me gains 5 new partner institutions

Dive Brief:

  • "Micro-scholarship" platform Raise.me has picked up five new partner institutions in the University of Chicago, University of Pennsylvania, Washington University in St. Louis, Harvey Mudd College and Grinnell College.
  • Via Raise.me, high school students can upload achievements ranging from grades to extracurricular activities beginning their freshman year and receive anywhere from $100 to $3,000 in awards from partner institutions, which they would then be able to redeem upon admission to one of those schools — and Campus Technology reports the average total awarded to users is around $20,000.
  • Since its launch in 2014, Raise.me has picked up over 200 partner institutions and helped over 700,000 students gain more funding for their educations, with its focus being primarily on expanding access for low-income and first-generation students.

Dive Insight:

Raise.me's micro-scholarship model is interesting at a time when the rising cost of attending college is a constant concern for many in the industry. But what stands out even more is its potential as a recruitment tool.

If, say, Arizona State University hypothetically offers a student $200 for an "A" in a chemistry course, whereas University of Pennsylvania offers $100 and University of Chicago offers $150, it's not hard to figure out where a student using the platform might ultimately decide to attend if accepted. With colleges and universities becoming more competitive over students — especially amid predictions that incoming generations of high school graduates will likely be smaller than recent predecessors — it's not hard to see where a tool like this can become valuable in swaying a final decision on top of any other financial aid offerings a student may have, or why so many institutions have already signed up. 

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Filed Under: Higher Ed Technology