With the cost of tuition rising every year, crowd fundraising site GoFundMe reports more people are turning to the internet to ask for help. The College Board estimates the average college student graduates with $30,000 in loans.
Minnesota legislators want to set up an online service to link young businesses with capital. MNvest would work like the crowdfunding website Kickstarter. But instead of getting a CD or T-shirt for donating to a project, investors would own a piece of the company they support.
A historic Minneapolis diner on the verge of closing now has the money it needs to stay open thanks to help from the public. The Minneapolis-St. Paul Business Journal reported the Band Box Diner was running on its last grill burner and it needed to be replaced. If it went out, so would the business.
Crowdfunding is used for weddings, funerals and medical care, even college tuition. Relatives of passengers on the missing Malaysia Airlines flight 370 are the latest group to turn to crowd-funding to help solve the mystery. They launched a crowd-funding campaign in hopes of raising $5 million as a reward for a whistle-blower for information on the missing plane, and to start their own investigation.