Impact and Efficacy White Paper: An Exploratory Study of RaiseMe Micro-Scholarships
RaiseMe’s distinct and proprietary approach to engaging students earlier and more deeply in the college readiness process, specifically through the utilization of micro-scholarships, has been lauded by experts and broadly recognized for its novelty and innovation. Since the launch of the micro-scholarship platform in 2014, over 1.4 million students have signed up to earn micro-scholarships from colleges and universities for their achievements, collectively accruing approximately $2 billion in scholarships from colleges.
This limited release is a preview into the findings of an new white paper which examines the overall efficacy and impact in improving student outcomes, expanding the scope of RaiseMe micro-scholarships as a college readiness tool for high school educators, and observing the overall success rate for students in applying for and selecting a best-fit institution.
Preliminary findings indicate the following:
- RaiseMe micro-scholarships are helping students engage in the college readiness process much earlier than they normally might. 85% of educators that are active on RaiseMe agree that the platform is most effective when introduced in freshman or sophomore year.
- RaiseMe micro-scholarships are also motivating students to work harder towards college readiness. 81% of students said their confidence towards their own likelihood to succeed in college increased as a result of earning micro-scholarships on RaiseMe.
- Students that have earned micro-scholarships from colleges on RaiseMe are being admitted to colleges at a higher rate than students not on RaiseMe. The mean admit rate of students on RaiseMe at RaiseMe partner colleges is 6.4% higher than that of non-RaiseMe students.
- Students that have earned micro-scholarships through RaiseMe are committing to 4-year colleges at a higher rate than students not on RaiseMe, suggesting that RaiseMe is helping them find best-fit institutions. The mean deposit rate at RaiseMe partner colleges by RaiseMe students is 17% higher than that of Non-RaiseMe students.