Florida based GradePayments announced today it has launched its online portal that powers social funding for grade achievement. The GradePayments social funding portal is designed as cloud based service intended for use by students and their sponsors (family members, friends, and local businesses).
The GradePayments platform allows Students to determine the type of project they want to post for sponsorship: either by Subject, by GPA, or by Single Test. In the Subject type of project each sponsor sets their own unique reward values for specific subjects; allowing them to add premium rewards for harder courses. The GPA project type allows sponsors to pledge tiered reward amounts based off a standard 4.0 scale. Students can even create projects around a single event like the SAT, GMAT, or a trade certification with a reward tied to a desired goal. The system also allows students to upload a project video to share their academic goals with potential sponsors.
“The most exciting part of our solution is the fact that GradePayments helps students take their academic goals from an internal moving target to a published community based goal with their friends and family,” said Brian Davis, founder of GradePayments.
The GradePayments social funding platform is free for students and sponsors to register and connect through posted projects. The sponsors only fund projects once the grades have been achieved and verified by the GradePayments team. Currently deployed in the United States, the company has plans for expanding the platform to international markets.
Davis added that,
“There is a huge need for a global academic achievement based crowdfunding destination. Our system fills that need. With the number of students enrolled in tertiary education expected to double by 2025 and as the costs for that education continue to rise, our platform will help millions of students reach their academic goals.”