GoFundMe College Scholarship (2024)

FAQs

Do people use GoFundMe for college tuition? ›

Using GoFundMe to pay for college expenses has plenty of advantages: Since there aren't long wait periods to receive the money you raise, you can quickly start putting the funds towards any expenses you need help with such as textbooks, supplies, and other necessities.

No fee to create a fundraiser

There's no fee to start or manage your fundraiser. However, to help us operate safely and securely, one small transaction fee (2.9% + $0.30, which includes debit and credit charges) is deducted per donation.

Even if you don't reach your goal, you can withdraw every cent, minus the transaction fees. This is unlike other donation platforms that take an all-or-nothing approach, meaning you can only receive the donations if you reach your target. It's free to sign up and start a campaign on GoFundMe.

You're making a big difference for someone in need. Below, we've outlined some helpful details and tips to make the donation process as simple as possible. When donating to a GoFundMe fundraiser, the minimum donation amount is $5, and the maximum donation amount is $30,000.

A majority of scholarships, particularly private scholarships from foundations and government grants, will indicate that scholarship funds must go directly toward tuition. Many awards that renew for each academic year are designated to cover this expense.

With a GoFundMe, you can quickly get help for school and education costs. Katie raised $80k so every kid in her school could get a bike.

If the money raised on GoFundMe is for a personal cause, such as medical expenses or home repairs, it is typically considered taxable income. However, if the money is raised for a charitable cause, it may not be subject to taxes.

GoFundMe campaigns have a success rate of 50%. Roughly one-third of the funds raised on GoFundMe are for medical-related expenses. About 41% of GoFundMe campaigns are in the United States. Since 2015, over $150 million has been pledged toward education-related campaigns on GoFundMe.

Select “Charity” if you'd like the funds to go directly to the charity; if you choose this option, you will not set up bank transfers or handle the funds yourself.

The Official George Floyd Memorial GoFundMe receives more donations than any other fundraiser in GoFundMe history.

Is there a better alternative to GoFundMe? ›

BetterWorld. BetterWorld tops the list of GoFundMe alternatives for several reasons. The first reason is its flexibility. In addition to hosting a crowdfunding campaign, you can also do a variety of other fundraisers, including online auctions, giveaways, peer-to-peer fundraising events, and monthly giving arrangements ...

Individual donations process in 1-14 business days before being included in a transfer. Each transfer includes all processed (available) donations. Transfers initiate daily, unless you change to weekly or monthly. It takes 2 - 5 business days for transfers to reach the bank account after leaving GoFundMe.

We see people use GoFundMe to raise money for themselves, friends and family, or even complete strangers in random acts of kindness. People raise money for just about everything, including medical expenses, education costs, volunteer programs, youth sports, funerals & memorials, and even animals & pets.

In place at GoFundMe since 2017, The Tip amount is meant to support the platform itself, covering operational costs and enabling the platform to continue to deliver its services. The platform adds 15% at checkout. Yes, you read that correctly, 15%. It's the default amount they ask of donors to cover site fees.

Except for a few very specific exceptions, a student-athlete is not permitted to use his or her name or picture to advertise or promote a for-profit crowdfunding service. That is to say, a student athlete can't act as a spokesperson for a company (crowdfunding or otherwise).

For some students, getting a job and earning their own spending money is the only way they can make ends meet. But if you're willing and able to help your college-aged kids, a monthly allowance can often be the best way to go.

People raise money for just about everything, including medical expenses, education costs, volunteer programs, youth sports, funerals & memorials, and even animals & pets. We're always amazed at the ways people use GoFundMe to raise money. Check out some recent success stories, or see how GoFundMe works.