Dormoney requires all donations to be for educational related expenses only. Educational expenses can include but are not limited to: tuition; room and board; fees; room; board; books; technology; transportation; clothes (e.g. business attire for internships/externships); travel abroad; etc.

Yes. All Dormoney account holders are required to be currently enrolled at a college or university. You will be asked to upload a copy of your college/university ID when creating an account. High school students who have been accepted to a college or university are required to upload a proof of acceptance. The high school student’s account will be a provisional account (with all rights and privileges of an approved account) until proof of enrollment is submitted.

Creating a Scholarship is easy. Click here to view a quick tutorial on setting up a great Scholarship.

Information concerning your donations and tax implications can be found by clicking here.

Information concerning donations to students and the tax implications can be found by clicking here.

Make sure that all the necessary information for the account into which you wish to have money deposited is up to date. From your Dashboard, click on “Withdraw”. Choose the method for withdrawal, e.g. your bank account, CashApp, Zelle, etc. Click “Submit”.

Log into your Donor Dormoney account. Go to your dashboard. Find the student and Scholarship subscription that you wish to cancel. Click “Cancel”.

The fastest way to receive money from your Dormoney account is by checking or savings account, PayPal, Zelle, CashApp. The time to receive funds to your checking or savings account is dependent on your banking institution.

Yes. Dormoney follows industry standards for processing fees. For every transaction there is small fee. Dormoney seeks to keep its fees as low as possible because we understand the need for adequate educational related expenses. Withdrawal fees will range from 5% - 10%.

No. You will not be charged a fee for donating to a student.

Dormoney understands that college students need to retain as much money as possible. As a result we charge a one-time transaction fee of 5%.