DENVER – April 2014 – April 15 was tax day, which means many people will find themselves with a little extra cash burning a hole in their pocket by May or June. Rather than spend your tax refund on material items – new clothes, a new gadget, etc. – that may go out of style in a few months, Future College Fund encourages Coloradans to put that money toward a long-term investment that’s more personal than most, your loved one’s college education. Future College Fund (FCF), a new crowd-funding website, can help parents make the process of funding their children’s education a source of pride and hope for the future.
The average tax refund issued so far this year has increased 3 percent over last year, to $3,034, according to the Internal Revenue Service. A recent study by Edward Jones found that a majority of adults between the ages of 18 and 34 plan to spend their refund on shopping or going out. While it may be tempting to spend this extra income on fun activities or products today, it will not do much good for families in the long run.
“I can understand the desire to buy the latest new tablet, dress or TV with all that extra money,” said Desiree Shank, founder of Future College Fund. “But as a single mom with two young kids, I know that it’s more worthwhile for me, my family and my friends to invest in the future through our children’s college funds. Though college can seem far off, I know that by planning now and allowing my family to help through Future College Fund, I’ll be more than ready when I have to write that first tuition check.”
With the cost of college tuition rising each year and the growth of financial aid remaining stagnant, many parents worry about being able to pay for their child’s education. Grandparents, aunts, uncles and friends who also love that child often share this worry, but do not know how to help. FCF can help relieve this worry and make it easy for friends and family to contribute anytime, including during tax refund season. With FCF, parents can design a fundraising page for their child, include photos and their child’s dreams for the future and send family and friends a link to the page, encouraging them to contribute some or all of their tax refund. Friends and family can pay online with a credit card, so the process is quick and easy.
“There’s no better way to spend your extra money this year than on the future of a child you love,” adds Shank. “Your gift will help give the child a bright future that includes a college education and peace of mind to the parents.”
Future College Fund (FCF) is a free service through which users can create a fundraising page for their children that will allow friends and family to make financial contributions. Founded in 2013, FCF uses a patent-pending technology that utilizes the power of crowd-funding to help users save for their children’s futures. To learn more, visit www.futurecollegefund.com.