Can I ask an investor to help me pay for college?

PLEASE TAKE TIME TO READ THIS: I have had somewhat of a hard life. I never really had alot of money and still dont. My life goal is to become a professional Track athlete. I have already chosen one of the best schools for it too, University of Oregon. I know I have potential to become an alum there and possibly an athlete, but I could never come up with the money to pay my way through college, unless I joined the military, and ther paid for it, which I don't want to do (for specific reasons). Would it be possible for me to write a letter to someone such as Bill Gates or Mark Cuban asking them to help me pay for college and if I hit it big I could pay them back some day. Just wanted to know if this could be done.

2 Answers

  • nancy
    Lv 7
    7 years ago
    Favorite Answer

    There's no harm in trying, but you may have better luck if you choose less well known people. Billionaires have to deal with thousands of people begging them for money every day for every possible need. They can't devote their entire day to reading these letters, and it's very distressing to hear from so many desperate people, so most set up foundations to deal with charity requests. They pick causes they want to support, and all requests for donations have to go through the foundation and meet the parameters that are set up. For example, education is one of the causes that Bill Gates supports, but it's done through a rather famous scholarship competition: the Gates Millennium. If you send a letter asking for help for your education, it's very unlikely that Bill Gates will ever see it, because an administrative assistant will read it first and --it you receive a reply at all--you'll be directed to apply for the scholarship.

    If you're looking for an individual to support your college aspirations, you would do better to look for someone of more modest means from your own community, who is more likely to take a personal interest in your future, and is less likely to have requests from thousands of students.

    But, honestly, most wealthy people frown on this sort of thing. You will probably be more successful if you direct your efforts to finding and applying for scholarships which are, after all, the most common way that wealthy people and organizations use to support students.

  • 7 years ago

    Billionaires get approached by charities and ordinary people all the time. If they started giving money away to everyone who asked, they would be broke in no time. One solution is to go to a college that sees your potential as an athlete and provides an athletic scholarship. Here's a HUGE problem: Track is not a moneymaker for a college, so there would be no financial incentive to give you a full ride. There are college loans but you have to pay them back. I'm guessing your parents can't afford to support you through college. What about grandparents or other relatives? If your parents kick in some, other relatives kick in some, you do work-study so you are making some money, and fill in the gap with loans, will that work for you?

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