I recently started a gofundme for myself to help with costs I still have for this semester. I’m on a payment plan since it’s hard to pay it all at once. Financial aid only covers a bit of what is owed and it is with a loan. I have costs of books that are more expensive tham ever along with my new installment to pay by the end of the month. I’ve posted my link everywhere but I haven’t have responses. I wanted to know if anyone has had luck with gofundme and if so how?
I read someplace that gofundme monies are considered income…and are taxable.
@BelknapPoint is this true?
If you need a gofundme for this term…how do you plan to pay for the rest of college? You might be better off asking your parents or grandparents if they can help you out.
How much money do you need?
I have to say…I personally would NOT donate to a gofundme for college costs…clearly the school is not affordable,of this is needed.
@thumper1
Around 6,000 is what is need for semester once having substracted the loan disbursement. Financial aid wasn’t much of a help as it was based on parental income and that income isn’t simply available for large tuition costs. I intend to keep applying for more scholarships and continue to work the jobs I have to support my education also. Having a gofundme where people can donate simply seems like a good way to help alíviate the costs that I have and have more funds for future semesters.
So you are saying…you need $6000 for EACH semester remaining of college? And that is after taking the Direct Loan?
So you are short $12,000 a year? Is that correct?
The funds that are the most successful are for people experiencing unexpected tragedies. When I see gofundmes where even the person’s friends aren’t contributing, it makes me think it’s not a really good idea. You might be better off asking your profs if maybe they have an extra textbook, even the previous edition, to lend you.
@thumper1
I am able to collect money here and there with smaller things whether it be selling clothes or jobs. I am still able to make payments but I’m back to 0 every month. I’m not exactly short 12,000 a year but it would be extremely beneficial to have something else to contribute to the funds so I wouldn’t have to look for every possible penny on the ground.
My standard answer here: it depends.
Google “GoFundMe taxability”
And this surprises you?
Really, what incentive is there for any reasonable stranger to simply hand over money to you for what you say is school expenses? How does anyone know that you’re not an addict looking to pay for your next fix? Wishful thinking is not a good college funding strategy.
LOL.
Here’s the thing: we all want things we can’t afford.
For you, it’s apparently to attend that school. If you’re $12,000 short a year, you need to go to the bursar TODAY and withdraw from the school. You cannot afford to go there. Period. And if you withdraw now, early in the semester, there will be far less of a financial cost.
GoFundMe is people asking for financial help. I’ve contributed to it once: for burial costs for teen who committed suicide.
But I’m not taking money away from my kids-- who, by the way, also attend college, to finance your education. Sorry, it simply isn’t happening. I strongly suspect the people who have seen your Gofundme request feel the same way.
So what’s the answer? Withdraw today.
Go home, if you’re not already living there. And this afternoon apply to a local state school. That $6,000 you’re short this semester will likely cover most of this YEAR’s tuition.
Have you considered getting a job? My son earned 10K during an 16 month period while he was a full time student at the end of his high school career. He is now working part time while he attends college full time. He saves and stays ahead of hiss bills and has loans.
Gofundme is for people in need. I’ve contributed to them for people who have experienced a fire in their home, a death, or some other hardship.
Go fund me can be an appropriate way t handle an emergency need for financial assistance. A HS friend’s home burned down and someone set up a gofundme to help i’m out. I contributed. But to set up a gofundme just to help defray education costs at are above your means feels a little bit like panhandling. JMO.
I’m sorry you were allowed to get into this situation. It sounds like your parents earn too much for you to get aid, but if your parents’ income “isn’t available” for the high cost of residential college why should the income of strangers’ families be? It’s unrealistic to think that asking others to give you ~$50,000 over the next 4 years so you can have a residential college experience will be successful.
It’s difficult to understand your situation from your posts. It sounded like you were $6,000 in debt for your 1st semester, but in later posts it sounds like you’re able to earn enough through work to make the payments but it takes all your money and you don’t like it. Trying to come up with that kind of money every month must be very stressful.
Unfortunately, your options are limited. There aren’t any outside scholarships that will cover $12,000/year for students who are already college freshmen. If your parents can’t/won’t pay then your options are to continue working or transfer to a less expensive school.
I always had a Gofundme account in college…back then it was called a job. It paid the tuition that an academic scholarship didn’t cover, my car insurance, and all spending money. I worked at least 20 hours/week - every day after classes, most weekends, most of the breaks, etc.
$12k/year could be easily covered by working, particularly if you are forward thinking and work full time during the summers to save for the rest of the year. Get 2 jobs in the summer, if needed. If you need more than that or more than could be covered by working, take a semester off to work, save and then return, and keep working.
Do not underestimate the learning experience that comes from working in order to meet obligations like school. It is humbling and builds grit that will serve you the rest of your life as much as your school education will.
It is not easy for a full time student to net $12k/yr, but not impossible.And with Income netting 12K, the students EFC would probably also increase for the following year, so they would have to earn more…
As an aside, the autocorrects are sometimes entertaining— it should have said “feels a little bit” not “a little brie” in post #10. Though now I want cheese…