MTV launches ‘My College Dollars’

Young adults have long complained that MTV has shifted its focus away from music videos, but this time around, it just might benefit them.

Last month, MTV, Get Schooled, and The College Board launched a Facebook application that aims to simplify the financial aid process for users.

The new app pulls information from users’ profiles – like age, gender, and state – to connect students with financial aid opportunities. “My College Dollars” also offers users financial aid information, guidance, and tools – from a guide to completing the FAFSA to financial aid video tutorials, starring Jason Derulo.

As a recent graduate from a private university that cost me upwards of $40,000 per year (not to mention school supply and general living costs), I’ve seen many promising students leave their dream school for a less expensive college because they didn’t know where to look for financial aid opportunities outside of the ones offered by the college. It seems this app hopes to prevent the same thing from happening to future students.

The MTV press release mentions past studies that have revealed upwards of 2 million college students don’t apply for any of the nearly $70 billion in financial aid that the government distributes each year, and that almost two-thirds of students find the process of applying for financial aid difficult.

“A college degree is more important now than ever for young people entering the workforce,” MTV president Stephen Friedman said in a press release. “’My College Dollars’ is an innovative digital tool that will help students connect with money for school and hopefully put a college degree in closer reach for more students.”

“My College Dollars” was conceived by recent University of Nevada Las Vegas graduate Devin Valencia and developed by MTV and The College Board. Find out more about the app at mycollegedollars.com.