Graduation season is upon us, and it's no secret more and more Americans are graduating with thousands in student loan debt.
That debt is fueling the business of finding scholarships through apps and websites like ScholarshipOwl.com which aims to streamline the process for users by allowing them to apply for thousands of scholarships with one application.
"There's about $3 million in scholarships we can find through the database," explained ScholarshipOwl.Com CMO and Co-Founder Ken Sandorffy.
"The average student that comes to us finds about 100 scholarships he may apply for in a given month," Sandorffy said.
The site offers users a free trial which returns potential scholarships. For an upgraded account starting at $5 monthly, the site will apply to the scholarships for you. Sandorffy says users can also choose to apply themselves individually, but, he's hoping to save them time.
"I would say on average we save the student about 80-90% of the time it takes to find and apply to the scholarships," Sandorffy said.
"We actually have a team of researchers that goes out and finds scholarships on the net, we also connect to an API that offers a huge database of scholarships that is always fresh in the U.S."
Sandorffy said he realized the need for scholarship search tools after his own frustrating and time consuming experience of applying to college and then searching for scholarships.
He says the company's intention is to make scholarships much more available to every student and help distribute money.
Scholarship Owl helps students find money for college