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Crowdfunding for College

NEW YORK ( TheStreet) -- It costs thousands of dollars now to go to college and if you aren't lucky enough to get a scholarship or have parents willing to pay the bills, you may be facing years of paying off loans.

Sure, you can work and try to pay your way through school, but how many 20-somethings can make the big bankroll needed for each semester? Or what if you just need help temporarily? Like funding a semester abroad, or supporting a particular study, or even just some help buying materials?

Just go ask the crowd for some help.

There are several crowdfunding sites that have an educational component to them. They won't give you a full ride, but they do present options for raising some cash without asking your parents.

Angeldorm is an education-funding platform that helps students raise money for their education. The money goes directly to the university, so donors don't have to worry about it being used for pizza and beer. makes its money by charging a fee from the donor. Plus, every student who launches a site on Angeldorm is automatically entered to win a scholarship. Each student site is filled with information about the student's college and goals.

Angeldorm looks to the students, though, to help build the buzz for donations. Most students who were featured had raised under $2,000.

CrowdfundEDU is another site created to raise money to help pay for tuition, books, equipment and even workshops. It isn't just limited to college. Even K-12 students can begin fundraisers on this site.

The model is similar to Angeldorm, in that it makes its money from the donors, while the student isn't charged anything. It uses PayPal to facilitate the money transactions. There isn't the same accountability on this site as there is on Angeldorm; the money raised is given directly to the student and there isn't any follow-up to see if the money was spent in the way promised.

This site didn't seem to have as many contributors and, again, it expects the student to do the social media heavy lifting.
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