At the 2011 Clinton Global Initiative University, President Bill Clinton announced that MTV and the College Board, with support from the Bill & Melinda Gates Foundation, will develop a first of its kind Facebook tool to help students find money for college.
The social media tool is based on the difficulty of paying for a higher education. It is a key reason many college students fail to graduate. Past studies have shown that upwards of two million college students don’t apply for any of the nearly $70 billion in financial aid the government distributes each year, and that almost two-thirds of students find the process of applying for financial aid difficult.
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