I-Contribute has solved the problem associated with the debt from student loans and rising tuition costs in the United States
Lewisburg, WV (PRWEB) July 25, 2011
I-Contribute works with private donors and students to find solutions for the increasing costs of higher education. Starting as a web based service where donors are able to contribute to a student's loans or tuition is the first of its kind to attempt to solve this national issue.
"I-Contribute has solved the problem associated with the debt from student loans and rising tuition costs in the United States", remarked Steven Hernandez, President and CEO of I-Contribute Inc. In recent weeks, I-Contribute has launched a new website that puts students and private donors in one location. "I was trying to find a way to lower my personal student loans and get assistance with tuition to work on my masters degree," Steven stated. "So what started as a single webpage telling my story, turned into a place where all students in my position could tell theirs."
I-Contribute looked at the rising debt from student loans in the United States, which is quickly nearing $1 trillion dollars, and knew there had to be a way to solve the growing problem. "After researching many different options, we found that mixing micro-lending principles with a charitable organization and online profiles was the solution" said Laura Hernandez, Vice President of I-Contribute Inc., when she was asked how the final product was developed.
I-Contribute runs most of its operations through a simple website where students and donors are able to join. Students, once signed up on the site, fill in a simple profile with information about their educational and professional backgrounds. After their profile goes live on the I-Contribute site, private donors search to find students they feel could use a contribution. In order to become a donor an account must be created with an initial contribution that can be dispersed by the donors after a student is selected.
"The first impression from people that hear about I-Contribute is very positive" Mr. Hernandez remarked. He continued, saying "The most common response that I have heard is, 'This is something that was needed.'" The idea, spawned out of a need for further education, has turned into a sensation that is able to help thousands of students in the end.
I-Contribute was founded in May of 2011 after finding interesting data. First, the average college graduate in 2010 had $24,000 in student loans. These students went to college, as did most of our donors, to be able to contribute to society in many different ways. We also found that 85% of Americans contribute to charitable organizations totaling almost $360 billion dollars in 2009. I-Contribute is working to connect these two classes of individuals to help each other.
I-Contribute is designed to assist college graduates and current students with student loan and tuition costs. Currently pending 501(c)(3) status as a charitable organization, I-Contribute plans to fix the status quo of increasing student loan debt with the help of both students and donors. I-Contribute views education as a key to the success of a person and society.