As we move into the Blockchain era, we will see disruptions across many industries. Scholarships are the perfect use case for the advantages this technology promises. Digital scholarships offer many benefits including:
Creating premium educational resources requires time and skill and often times are simply too expensive for many teachers/school districts. Finding quality free or open educational resources (OER) consumes exorbitant amounts of teachers’ precious time. Tuition Coins were created with educators in mind. Tuition Coin is to educators, what Uber is to everyday drivers. Currently, large Edtech companies compensate a handful of educators to create very expensive educational resources, the same way taxi companies of old hired a handful of taxi drivers to deliver overpriced services. Uber empowered millions of drivers worldwide to provide premium driving experiences to customers at a fraction of the price. Likewise, Tuition Coins pave the way for educators around the world to be compensated for sharing their valuable content of all sorts to an ever-growing library of premium educational resources. The Tuition Coins earned by educators will increase in value over time for several reasons discussed below.
Children receive small amounts of coins and low denominations of money throughout their lives for birthdays, chores, and a host of other reasons. While it may seem impractical to deposit such small amounts into a bank account or 529 plan towards future college costs perhaps even impossible. Through partnership platforms, organizations and individuals can give fractional amounts of Tuition Coins towards the future college costs of students throughout their K-12 journey. Having a tool like Tuition Coins readily available will make it easy for parents and others to take consistent baby steps towards the further goal. The collateral advantage is that the conversation of college is no longer shied away from, nurturing an atmosphere of college expectancy.
Philanthropists, Organizations, & Everyday Citizens
Education remains one of the top charitable causes worldwide year after year. As we move into a digital-based economy, Tuition Coins will be positioned as the go-to means of providing scholarships of all sizes to students. From philanthropists to organizations, to everyday citizens, everyone that wants to help children go to college will find Tuition Coins to be the easiest and safest way to do so.
Speculators will purchase Tuition Coins for entirely different reasons, expecting the value to increase for many different reasons. However, every time speculators purchase Tuition Coins the tokens will increase in value. This value increase will inadvertently support both students and educators. Tuition Coins will prove to be profitable and altruistic at the same time.
By providing tax-saving benefits to individuals and organizations that donate Tuition Coins toward students’ college costs, Governments will ultimately be supporting their citizen’s journey to college.
Colleges and universities will enjoy several indirect benefits:
As students accrue Tuition Coins throughout their K-12 journey they will consistently have a healthy expectation of and vision for college enrollment. Even a partial financial plan for college from a young age will provide the motivation and intrinsic value necessary to keep a student on a trajectory to attend college.
Lower Dropout Rates
The dropout rate among students after their freshman year is one of the greatest pain points for colleges. The number one cause for students dropping out is their inability to afford college, or burnout from trying to study and work at the same time to survive. Allowing students to receive Tuition Coins from the time they are in Kindergarten allows them to mitigate or completely eliminate this financial burden.
Reduction in Summer Melt and Gap Years
Many students who take a gap year after high school end up never attending college. Gap years and the summer melt that results from students who accepted college admission but never matriculate can largely be tied to a student’s financial situation. Tuition Coins will greatly combat these issues by allowing students to be financially prepared for college from a very young age.