BELLEVUE, Wash., Sept. 6 /PRNewswire/ -- Classof1.com, which provides comprehensive online tutoring, homework guidance and e-learning courseware development services to the school, college, and university student communities, announced today a formal partnership with GradeFund, a new, innovative community-based education financing platform. Classof1 has agreed to sponsor 10 students for the Fall 2010 semester through the GradeFund platform. All active students registered on GradeFund by September 30, 2010 will be eligible for the sponsorships offered by Classof1 and will be selected at random. Students must have been active in the past 30 days to be considered eligible.

With the student loan market ballooning past $848 billion this year and government aid dwindling to just $46 billion for aspiring students, obtaining funding for college education has become extremely difficult. According to a survey performed by Gallup, the number of parents that have to withdraw from a 401(k) or IRA early has doubled from 2009.

GradeFund presents students with an alternative platform to finance their academic endeavors. Specifically, students can earn GradePoints by obtaining sponsorships from friends, families and corporate sponsors, like Classof1. GradePoints can be redeemed into either a college-savings account or directly to their academic institutions bursar's account. Students can earn additional GradePoints by completing offers on the GradeFund platform, which instantly gets deposited into their account.

"Classof1 is extremely delighted to join forces with GradeFund to help inspire academic achievement for both high school and college students," said Datla V Reddy, GM at KU Education Digital. "We anticipate that students who utilize the Classof1 services will also have a higher likelihood of meeting their sponsorships. Our programs have helped thousands of students succeed in meeting their educational goals through supplemental instruction and guidance beyond their regular classroom studies."

Zach Suchin, CEO of GradeFund commented, "Classof1 is a tremendous opportunity for students to bolster their academic success outside of the classroom.  Their support of GradeFund's platform is truly appreciated."

With more than 2.6 million students entering college this year, the need for additional avenues for financing education is paramount. GradeFund's unique platform that incentivizes academic performance will not only provide additional funds for students, but also inspire them to meet their educational goals.

SOURCE Classof1

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