College Wallet is an easy-to-use mobile app for students and their families. It gives students a powerful tool to raise money for college. Students can request and receive money in minutes and have access to a large inventory of blockchain-based financial aid awards. Parents can contribute into smart-contract powered educational savings accounts (ESAs), with access to an ever-widening range of new blockchain assets.
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Collegecoin mission is to help college students graduate debt-free and increase access to education around the world. To accomplish that mission, Collegecoin introduce , a college funding platform powered by Stellar, and College Wallet, a multi-asset universal wallet for students and their families. Rising tuition costs, a predatory student loan industry, and an absence of consumer protections for students have all created a crisis that threatens human progress. Student loan debt approached $1.5T in 2017 , making it the second highest consumer debt category.
The student debt crisis is predominantly an American one, but many problems related to funding and educational access prevail around the world. There are still parts of the world where less than 3% of young adults are able to gain higher education , lacking access to teachers, 2 classrooms, and learning materials, or due to political, cultural, other factors . Fortunately, 3 distance education is transforming the way humanity acquires knowledge and has the potential to make a big impact in less developed parts of the world when combined with greater access to funding.
Cost of college
The cost of college tuition is rising faster than almost all other categories of consumer goods and services. According to the American Enterprise Institute, prices
for college tuition and books roughly tripled since 1997, beating inflation and outpacing income. 5 Most college students can’t find enough money to fund their college education without a creditworthy co-signer. According to a recent survey, only 45 percent of students were able to finance their college education on their own in the 2017-18 academic year.
As mentioned above, the education sector is significantly under invested relative to other sectors worldwide. A 2015 survey showed that 58% of capital allocated to impact investing flows towards housing, agriculture, energy, and micro-finance, compared with only 2% invested in education. Impact investing is on the rise. The eighth Annual Impact Investor Survey received responses from 226 investors around the world, and reported total $228 billion in impact investing assets, up considerably from the previous year.
Collegecoin college funding system is broken, and it is up to those of us who survived it and still managed to achieve a sustainable livelihood to figure out a better way for Collegecoin’s children. The $1.5T student debt bubble is about to pop, and the future of humanity is at stake .15 There are many new tools available to battle this crisis tools that didn’t exist even five years ago. The blockchain and smart contracts have ushered in a new financial era.
College Wallet is an easy-to-use mobile app for students and their families. It gives students a powerful tool to raise money for college. Students can request and receive money in minutes and have access to a large inventory of blockchain-based financial aid awards. Parents can contribute into smart-contract powered education savings accounts (ESAs), with access to an ever-widening range of new blockchain assets. Eventually, students will have access to a whole new breed of lenders for new student loans and for refinancing existing student loan debt. Collegecoin (COLL) is a utility token used within College Wallet.
Private foundations and charities represent a very small percentage of overall educational charity each year, compared to federal financial aid and other sources. Collegecoin are pushing hard to bring more charity funds onto the blockchain. By combining intuitive user experiences with Stellar’s powerful financial infrastructure, Collegecoin hope to bring greater transparency to educational charity and help grow private donations worldwide. When students sign up, they can choose to share as much or as little information as desired. Collegecoin never share information with third parties and Collegecoin are working hard to fully decentralize Collegecoin data .
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