Sunday, March 15, 2015

Close the Gap

Close the Gap school choice fundraising is up. I started a GoFundMe page to help families who wish to send their children to private or charter schools but can't afford the gap between scholarship and full tuition.  This is not for full tuition because I wish the money to be a non taxable gift so the amount should be under $10,000 I think.

The money collected will be set up in a trust but I have not yet named a financial adviser (though I have one in mind who my parents use) with the hopes that it can be earning interest that can be used to help students pay the rest of their tuition in the future.

I may not raise any money, but I can't believe I am the only parent who may not be able to send her child to a school of her choice due to the gap amount due between scholarship and full tuition.  Or that the gap amount will stretch the budget so thin that emergencies might throw someone into difficult times.  Plus, it won't be limited by number of children.  The only proof is the acceptance by the school and signed contract by the parents plus the proof of scholarship vs tuition to verify the amount to donate and it will be donated on behalf of the child so possibly the amount won't be a tax burden to the parents.  That last bit will have to be discussed with a financial/tax adviser.

Sometimes I have grand plans but no ability to execute.  I hope this will be what it takes to execute the plan.  I may rename the title to Close the Gap but that title is in the internet link anyway.  I also hope this won't be limited to just the US but will help families in Canada too.

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