May 31, 2018
Kaleidoscope today announced its partnership with Minneapolis-based affiliates Educational Credit Management Corporation (ECMC) and Zenith Education Group (Zenith) to administer and host multiple scholarship programs on the Kaleidoscope scholarship marketplace.
ECMC works to lower student loan default rates; sponsors financial literacy programs; and provides resources to help student loan borrowers successfully repay their loans. Zenith is a nonprofit provider of career and technical education.
Through the Kaleidoscope platform, ECMC will administer three scholarship programs totaling nearly $13 million, each unique in providing support to more than 3,500 high-need students.
"At ECMC, our scholarships provide financial support as well as guidance," said Paula Craw, Vice President of ECMC Student Success and Outreach. "By partnering with Kaleidoscope, we are able to spend less time on administration and more time providing resources to help students realize their educational goals."
By using the Kaleidoscope platform, ECMC scholarship applicants will gain access to additional scholarships through the Kaleidoscope marketplace. ECMC plans to leverage this partnership to encourage their scholars to submit scholarship applications for additional funding.
"We provide enterprise capable toolsets for scholarship-sized budgets," said Greg Dehn, Founder and CEO, Kaleidoscope. "Our aim is to ensure that as many dollars go to students in need as possible, while also providing modern technology capabilities to meet students in the mediums they spend their time today…online."
ECMC staff also will have access to automated tools through Kaleidoscope that will help expand their reach to school counselors and students with college advice and additional scholarship opportunities.
"It is rare that one single scholarship will cover 100 percent of the costs associated with most post-secondary education," Dehn said. "Providing students with easy access to scholarships allows them to spend more time focused on their goals and applications, and less time searching for scholarships."
Kaleidoscope will also be facilitating Zenith's newly developed Pathfinder Scholarship program, which will be awarded to students attending its Altierus Career College campuses.
About Kaleidoscope
Kaleidoscope offers a cloud-based scholarship marketplace that connects scholarship funders with students. The company's marketplace harnesses industry know-how and cloud technology to provide scholarship funders a digital, white-labeled program that celebrates their brand. Kaleidoscope improves financial output and delivers outcomes while providing a friction-free "uncommon application" experience that student applicants love. For more information, please visit https://www.mykaleidoscope.com/
About ECMC
Educational Credit Management Corporation (ECMC) is a nonprofit corporation with a mission to help students succeed. ECMC works to lower student loan default rates; sponsors college access and success initiatives, and financial literacy programs; and provides resources to support student loan borrowers to successfully repay their loans. To learn more about ECMC's initiatives, visit www.ecmc.org/students.