Kaleidoscope Tackles Rising Student Debt With Launch of Award Builder
MINNEAPOLIS, September 13, 2021 -- Kaleidoscope, the leading education awards management platform, today announced the first online tool to make education-focused giving more accessible to all. Kaleidoscope's new Award Builder allows scholarship and grant sponsors to design, test, and launch an award program in minutes, with immediate access to millions of applicants, for free.
Kaleidoscope is leading the industry in making scholarship, grant, and award creation available to anyone. The launch of Award Builder broadens the pool of funding options available to applicants, enabling them to pursue higher and continued education while decreasing the reliance on solutions that result in crippling debt.
"There is no surer path out of poverty than through education," said Greg Dehn, Founder and CEO of Kaleidoscope. "And, Award Builder takes a huge step forward in mobilizing private wealth to combat unequal access to it. At Kaleidoscope, it’s our mission to close that gap."
Today, financial barriers prevent millions of individuals from accessing education. In the US, 70 percent of students take out loans for higher education each year, averaging more than $30,000 of debt. Students who do gain access find themselves making their college selection, academic, and career decisions based on financial aid rather than the best program for their desired career goals.
Kaleidoscope's awards management platform directly addresses these challenges by matching sponsors with applicants, enabling them to connect, communicate and build impactful, life-long relationships. Kaleidoscope's single-solution digital platform allows sponsors to seamlessly track, manage and optimize scholarship and grants programs from gift deposit to award disbursement.
Sites like GoFundMe and Kickstarter normalized supporting a cause or investing in a new product everyday practice. Award Builder will be a catalyst for that same behavior, in reverse. With the free tier, anyone looking to help students can quickly and effortlessly offer their support.
Kaleidoscope was founded with the mission to remove the financial barriers to education by mobilizing private wealth. The self-service platform brings together applicants, third-party contributors, reviewers, and sponsors into a single place. Today, the venue hosts more than 6,000 scholarship and grant programs, with direct access to 60,000 school counselors and 900,000 users.
Kaleidoscope is a cloud-based awards management digital platform enabling organizations to fund, design, administer, and host branded scholarship and grant programs. The platform uses leading technologies to deliver an end-to-end solution for sponsors, organizations, and those they support. Kaleidoscope is building a future where financial aid and funding solutions are smart, cost-effective, and as unique as the applicants they serve.