Instagrad tackles student loan debt with crowdfunding platform for college


Student loan debt Instagrad is based in New York City with offices in Montreal. The startup has raised $200,000 from FounderFuel, an accelerator in Canada, and private angel investors. / Photo Credit: Instagrad

has surpassed $1 trillion and yet the cost of college tuition continues to rise.

Instagrad launched its attempt to solve this problem today. The startup has built a crowdfunding platform to help parents pay for their kids’ college education. Parents create campaigns on Instagrad where friends and family can invest in a child’s established 529 savings plan. They can include photos, messages, and fun facts and share the campaign on social media to attract support. Instagrad has also built a template for holidays and birthdays so parents can turn these events into fundraising opportunities.

“All the founders come from modest backgrounds so college is what made us into the people we are,” said cofounder Didier Boucard in an exclusive interview with VentureBeat. “However, our competition is not our peers but Toys R Us, Walmart, and Target. Why?  Because parents are assailed with offers of useless toys, clothes gadgets on and offline.  With student debt at 1 trillion we want to change the paradigm and make parents refocus on what’s important: a college education.”

Boucard met cofounders Mauricio Idarraga, Vicken Kanadijan, and Sanjay Bakshani at McGill University. Years later at Bakshani was throwing a birthday party for his toddler and Idarraga didn’t want to buy him the usual baby gifts that end up collecting dust or being re-gifted.

“I personally want Sanjay’s child, Zidane, to have the university experience I had,” Idarraga said. “A college education is the best gift anyone can get.”

A college education is not easy to come by. Getting in isn’t the hard part — its paying for it that presents a challenge for most.

Ed-tech startup CourseSmart recently conducted a study which found that tuition in the US is expected to double in the next ten years. Among adults 18-34 who do not have a bachelors degree, almost half could not afford it. The average debt per students is over $27,000 and outstrips car loans and credit card as the largest sources of personals debt. The Pew Research Center estimates that nearly one in five households is paying of student loan debt.

In the face of this escalating situation, Instagrad wants to provide an easy-to-use, social tool that allows parents to rally loved one together to support a child’s future.

Instagrad is based in New York City with offices in Montreal. The startup has raised $200,000 from FounderFuel, an accelerator in Canada, and private angel investors.

Photo Credit: Instagrad

Source: VentureBeat – Rebecca Grant


This RSS feed URL is deprecated, please update. New URLs can be found in the footers at [...]

TechCrunchFormer Gawker employees are crowdfunding an effort to buy Gawker.comTechCrunchWhile Univision acquired most of Gawker Media's sites last year (and renamed them as the Gizmodo Media Group), the deal didn't include Gawker itself. In fact, BuzzFeed reported last month [...]

ForbesCrowdfunding Do's And Dont's From iFundWomen's Karen CahnForbesDuring our conversation, she was transparent in sharing that her first software company, VProud, failed because she “did everything backwards” and spent too much time trying to perfect the product. “Pe [...]

VentureBeatAtaribox preorders and crowdfunding campaign open on December 14VentureBeatAtari will start taking preorders for its Ataribox game console starting December 14. The New York company will also start its crowdfunding campaign on Indiegogo. In an email blast, Atari said, “We a [...]

CurbedHistoric French chateau now has 13000 owners from crowdfundingCurbedThe Chateau de la Mothe-Chandeniers has had many owners since its construction in the 13th century. Now more so than ever. Over 13,000 strangers have recently banded together to save the fairytale home—which fea [...]

Crowdfunding For French CastlesNPRYou too can own a French chateau, in part, anyway. Romain Delaume, CEO of Dartagnans, tells NPR's Scott Simon about a crowdfunding effort underway to preserve La Mothe-Chandeniers. SCOTT SIMON, HOST: What if I told you that for about $60, you cou [...]

Financial TimesCrowdfunding a mission to save capitalism from itselfFinancial TimesJeff Lynn is on a mission to save capitalism from itself at a time when millions feel locked out, and unable to foresee themselves better off than their parents. His answer: to democratise capital. That [...]

Comics BeatCrowdfunding Watch: Women to the RescueComics BeatAlas, another Monday begins. We're all here at our computers, staring at the screen until our eyeballs turn into raisins. I'll try to keep this week's crowdfunding round-up short and sweet. This week we'r [...]

WRAL Tech WireNew crowdfunding platform launches in North Carolina: LocalstakeNCWRAL Tech WireEasley points out that LocalstakeNC “is the first investment crowdfunding platform exclusively serving North Carolina. Startups and small businesses ranging from technology startups to retail [...]

Crowdfunding Campaign Underway To Establish Freediving Lanzarote DestinationDeeperBlue.comFreediving Champion Marianna Krupnitskaya has set up a crowdfunding page to help her set up an amazing freediving destination in the Canary Islands. The Freediving Lanzarote project will ultimate [...]

CFB Finance


  • Crowdfunding
  • Crowdfund
  • Peer to Peer Lending
  • FinTech
  • Reg A+
  • Reg CF
  • Crowdfunding USA

Press Release

Live Crowdfunding .tv

What's Next Step in Regulation A+ JOBS ACTS Title IIII :L Interview : Steve Cinelli with Brian Korn Securities and Crowdfunding/Peer-to-Peer Lending Lawyer, Watch more video library | Conference | Interview | Campaign Showcase | Research | Education |