The rising cost of education in this country is a challenge all high school students face as they approach graduation. Each year, an increasing number of students turn to loans to finance their education. Ponce Durr was one of those students. During his time as a college Resident Assistant, he not only experienced the burden of student loans himself but also witnessed peers who were forced to drop out due to financial struggles. These experiences motivated Durr to support current college students and those pursuing higher education by helping them raise funds for post-secondary education, whether at a university, community college, or trade school. That led him to start his business, Gapfundr.

Education is one of the most powerful tools for breaking the cycle of poverty and unlocking opportunities for all individuals. However, the rising cost of education often acts as a barrier, particularly for students from low-income backgrounds. At GapFundr, they believe that everyone deserves access to a quality education, regardless of their financial situation. Their mission is simple yet profound: to enhance the accessibility and affordability of education for students nationwide. Gapfundr helps students raise the funds they need for education and works directly with the institution a student is attending or is looking to attend, and they provide those funds directly to the institution. This way, students don’t have to worry about money for education being misused.

While looking for resources that could help him start up his entrepreneurial dreams, Durr came across the Individual Development Account program – where individuals in the Black, Latine and Tribal communities work one-on-one with financial coaches to set a savings goal that is then matched 2:1 up to $10,000 through United Ways of the Pacific Northwest’s Community Reinvestment Project. This pilot program is currently available in Clark, Pierce, and Yakima counties. Durr is the first person to complete the program through United Way of Pierce County and receive a $10,000 match for his business.

Ponce Durr holding his $10,000 match check

One of the benefits Durr found with the program was meeting with a Financial Coach. His coach, Jennifer Roberts of Sound Outreach Hilltop, kept him on track and accountable to help him meet his goals.

“It really forced me to think about on a granular level what it is we’re doing as far as a company and how we’re going about allocating funds” Durr said in a sit-down interview. “It helped us keep a clear pathway for how we want to achieve our goals, not just current day, but also for the future.”

When asked about what these funds meant for Durr and his business, he said “This funding is really going to help us take flight. We’ll be able to get our software where we want it to be and provide a better user experience for college students. More importantly, it provides us the ability to keep ourselves afloat so that as we’re continuing to grow our company, we’re not wondering how we’re going to maneuver this or maneuver that in order for us to get the right amount of money. We can actually put the money where it needs to go with a mindful approach.”

We asked Durr what advice he would give to any other business or individuals looking to enroll in United Way’s Individual Development Account Program, his answer was simple.

“Go for it,” Durr stated. “Many times people get caught up on whether or not you fit the role, if you fit the demographic, if it’s going to be as easy as it sounds, the questions can be overwhelming. I would say there’s no reason to hold back. Just go for it.”

Watch our whole interview with Durr here: 

If you are interested in learning more about the Individual Development Account program or wish to apply, email [email protected] or contact your local United Way.