What is SchoolRaise?

SchoolRaise is an online service that lets students (and parents) raise money to pay for college or graduate school. Our micro-funding platform facilitates funding for students through "ordinary people" investors - family, friends, alumni, and others - who care and want to help by investing in the student's education and future. Like never before, SchoolRaise provides an online marketplace for educational funding, fundraising, and investing so that more students can have access to money to pay for school.

SchoolRaise is owned and operated by 3 Guys in a Garage LLC, a Delaware limited liability company, headquartered in Georgia. For more information, see About SchoolRaise.

How does this work?

It's easy. Our platform helps students raise money for school through family, friends, and other individuals in their social network. First, students fill out their online fundraising profile (or "Raise"), describing themselves and providing insight into their funding needs. Then they ask potential investors - the people in their network - to contribute as little as $50 towards their target. SchoolRaise simply facilitates the process and helps collect the funds. We handle all the details and simplify everything. For more information, see How It Works.

What are the terms and fees?

Currently, SchoolRaise is in limited "Beta" release as we test our prototype with a small group of students, and the website will be open for everyone to use later this year. During this limited release, members have access to only one funding type: contributions (i.e. gifts, donations). Later this year, members will have access to additional funding options.

The service fee is 5% of the total amount raised. In other words, if a student raises $1,000, SchoolRaise retains $50 for servicing the transaction, and the remaining $950 is disbursed to the student.

How can it work for me if I have no family and friends?

You might think that you do not know people who have the money and want to help you, but chances are, you do. Think of people beyond your personal family and friends: friends of family, friends of friends, relatives of friends, alumni, co-workers, neighbors, church communities, or anybody that thinks highly of you and your abilities. They want you to success, and they might help you because they think highly of you or want to be involved in your future.

It's easy. Our platform helps you raise money for school through family, friends, and other individuals in your social network. First, you start a "Raise" by filling out your profile. Then you ask potential investors - the people in your network - to contribute as little as $50 or as much as $10,000 towards your target. SchoolRaise simply facilitates the process, making it quick and easy to help you collect the funds. We handle all the details and simplify the process of managing multiple investors.

SchoolRaise combines the power of microfunding - helping individuals raise money through multiple relatively small transactions - with social networking via the Internet.

Who is eligible to raise money?

To raise money on SchoolRaise, you must be at least 18 years old with a valid United States address.

Who is eligible to invest money?

Anyone can invest in a student's Raise, as long as they are at least 18 years old with a valid United States address.

Are you pulling a credit report when I raise money or invest money?

No. We do not request your social security number, and we do not check your credit report.

What are the minimum and maximum amounts of money I can raise or invest?

The minimum Raise target is $500, and the maximum target is $50,000. That means you can raise as little as $500 or as much as $50,000 at a time. Have your estimated student budget handy, and start a Raise to cover one semester or a whole year.

Any individual investor may provide as little as $50 or as much as $10,000 in a single transaction.

When will the funds be disbursed to me?

The funds raised by students (minus a service fee of 5%) will be disbursed to them, via their chosen deposit method, on the last day of each month in which the amount raised is at least $1,000.

For example, if you are a student, after you have raised at least $1,000 (per Raise), you will receive a disbursement of the amount raised (minus 5%) at the end of each month, as long as the amount raised since your last disbursement is at least $1,000. The funds can be mailed by check or deposited to your checking account.

Will I know the identity of investors?

Yes. SchoolRaise allows the student (or parent) who created the Raise to see the names and email addresses of those who have invested or contributed money, as well as the amount. Be sure to thank your investors and let them know how much you appreciate their support and generosity.

Why is the website called a BETA?

The SchoolRaise website is currently a "Beta" version, which means that it's a prototype. We continue the process of undergoing changes and improvements to the site for the convenience of our users. Please excuse us if there are a few kinks in the system, and feel free to send us any feedback, suggestions or ideas for the future of SchoolRaise. We're building more exciting features every day. Thanks for your patience and your input!