Today, President Barack Obama announced plans for a "Crowdfunding" initiative to help small business access capital to create jobs. The Obama Administration should create a National Paid Internship Initiative using Crowdfunding to finance Jobs for Qualified College Students and Disadvantaged Youth.
The National Paid Internship Initiative is modeled after IWN Internship Fund, an innovative "crowd funding" solution offering 100% paid internships to qualified college students with a 3.0 GPA.
The program:
1. Students are paired with local business to get experience in their field of study by working part time.
2. Students receive minimum wage hourly rate for all work.
3. Work averages about 120-160 hours total over a semester.
4. "Sponsors" pay for jobs by using crowd funding online.