The rise of online fundraising has become a lifeline for the average Joe.
Platforms such as Givebutter and GoFundMe make raising money easily accessible to the general public in a time where bake sales and car washes are becoming relics of the past.
These crowdfunding organizations, while reliable, are at risk of being less effective due to an unfocused company identity, throwing specialization to the wind.
And for those looking to the future of their academics, trying to start a college fund is difficult to make standout in a sea of other entirely different campaigns.
A lack of specificity to these sites is exactly what Joshua Puerta, founder of FundMyScholar, hopes to reverse in an effort to shake up the industry and give his platform a novel spin through the realm of education.
A 21-year-old finance major at Nova Southeastern University, Puerta is no stranger to school expenses weighing down one’s ambition, a reality which put him on a course toward innovation.
Tuition costs and application fees were just a few expenses from a laundry list of school-related financial challenges Puerta wanted to address for his fellow student, and with his mission clear, FundMyScholar officially launched in August 2024.
“We saw a huge opportunity to help students fundraise on a large scale, but also in a very personal, one-to-one way,” Puerta said. “Schools often run big group fundraisers, but individual students each have their own unique needs and goals.”
Individuality is at the forefront of creating a campaign through FundMyScholar, as the program features the typical bells and whistles but emphasizes transparency when detailing their educational needs.
By going to their website, students can create a campaign which involves including a photo of themselves, setting a fundraising goal and spotlighting their story through a description of what they’re using the platform for.
Once finished, the student can use a unique donation link specific to their campaign and share it with friends, family and through their social media pages.
With more than a year under their belt, the platform has been used by upwards of 600 students and has raised about $90,000 in donor funds, distributed to users monthly via Zelle, a check or a direct transfer.
Community and social outreach is a pillar of the company’s philosophy, working with small businesses in the South Florida area to strengthen their non-profit offshoot known as the FundMyScholar Foundation.
Mikaella Robaina, an employee of FundMyScholar who helps create social media content for the company, is a firm believer of the partnership between the company and its many sponsors.
“FundMyScholar receives donations from businesses that are given out to students as scholarships,” Robaina said. “In return, FundMyScholar helps promote their business on our social media. This creates really strong ties with our local community and those using the platform, thus further solidifying FundMyScholar’s identity.”
Instagram continues to be their app of choice with close to 3,000 followers to their name and 176 posts consisting of video promotion for their sponsors, highlighting student campaigns and website updates.
Anyone who starts a fundraising campaign on the platform and raises at least $250 becomes eligible for scholarship funds that stem from the FundMyScholar Foundation, potentially offsetting the relatively high 10% service fee that comes with using the site and putting more money in the student’s pocket.
Puerta is aware of the platform’s higher fee compared to GoFundMe’s 2.9% and Givebutter’s 3% but reiterates the significance of FundMyScholar’s flat rate and growing scholarship fund as its advantage over bigger competitors.
Collaboration has slowly begun to pay off for the platform, with donations from local businesses like The Personal Injury Hub and 1st Financial totaling $7,000 in scholarship money.
Raising money early for future costs is a welcomed decision on the platform, allowing students beginning in pre-K to start a campaign with parental consent.
Christopher Gutierrez, father and family man who raised $255 for his 8-year-old daughter Sienna, took full advantage of the head start, with plans to start another campaign soon.
“Education is extremely important to our family,” Gutierrez said. “We believe that investing early builds confidence, opens doors and sets the foundation for future success. Being able to make sure my daughter has access to every resource she needs gives us peace of mind.”
Expansion is on the horizon for FundMyScholar.
Still, even with blueprints for a mobile app and a branded prepaid card for student payouts, Puerta refuses to lose sight of the company’s vision.
“The ultimate goal is simple: to ensure any student, no matter their background, has a real chance to fund their education and access opportunities without financial barriers.”
