MTV and The College Board to Launch 'My College Dollars' Facebook App

MTV, Get Schooled and the College Board today launched "My College Dollars," a Facebook application that utilizes information from a user's Facebook profile - including age, gender and state - to connect students with targeted financial aid opportunities. In addition to matching students with scholarships, the youth-conceived application will also provide information, guidance and tools that will enable students to make smart financial decisions about paying for college.

Difficulty paying for school is a key reason many college students fail to graduate. Past studies have shown that upwards of 2 million college students don't apply for any of the nearly $70 billion in financial aid the government distributes each year, and that almost two-thirds of students find the process of applying for financial aid difficult. "My College Dollars" is an intuitive, step-by-step guide on how to fill out the FAFSA, as well as apply for grants, scholarships and loans. The app will prioritize financial aid opportunities based on the user's demographic information and it will incorporate the following tools:

· Video tutorials from Jason Derulo on how to get the financial aid students need.

· Connections to peers and experts for support and guidance, as well as the ability to share and track each other's progress in the process.

· Integrated calendar to help students track important dates and deadlines.

"A college degree is more important now than ever for young people entering the workforce," said Stephen Friedman, President of MTV. "'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."

One of the greatest barriers to college completion is the rising cost of a degree," said Gaston Caperton College Board President. "But now, thanks to the ingenuity and creativity of young Devin Valencia, millions of students will have access to critical financial aid information that can break down this formidable barrier and create a new generation of college-going Americans. I am incredibly excited and proud, and I look forward to seeing 'My College Dollars' at work."

Several early adopters of the app will be rewarded through "The My College Dollars Sweepstakes," which is being sponsored by MTV and Get Schooled, a non-profit organization dedicated to using media, technology, and popular culture to improve high school graduation rates and college success rates. The Grand Prize of the sweepstakes is two tickets to the "2012 MTV Video Music Awards" and a $500 gift card, which can be used to cover school expenses like books and supplies. Ten second prize winners will take home $500 gift cards, with 15 third prize winners being rewarded with $100 gift cards. Students can enter through the next six weeks by connecting to the app, saving a scholarship deadline to their calendar, or sharing the app with a friend.

"My College Dollars" was originally conceived by Devin Valencia, a recent graduate of the University of Nevada Las Vegas, and developed by MTV and the College Board, with additional support from the Bill & Melinda Gates Foundation. The idea for the application won Valencia the "Get Schooled College Affordability Challenge," a national competition that asked students to reimagine the financial aid process.

The application is also integrated into Get Schooled's "College Dollars Challenge," with high schools across the country participating in a friendly competition that encourages seniors to get the information they need to make good financial decisions and ultimately complete their FAFSA. For more information on the College Dollars Challenge and to see a full list of participating schools, go to www.getschooled.com.

For more information on the My College Dollars Facebook application, visit mycollegedollars.com.

About MTV:

MTV is the world's premier youth entertainment brand. With a global reach of more than a half-billion households, MTV is the cultural home of the millennial generation, music fans and artists, and a pioneer in creating innovative programming for young people. MTV reflects and creates pop culture with its Emmy(R), Grammy(R) and Peabody(R) award-winning content built around compelling storytelling, music discovery and activism across TV, online and mobile. MTV's sibling networks MTV2 and mtvU each deliver unparalleled customized content for young males, music fans and college students, and its online hub MTV.com is a leading destination for music, news and pop culture. MTV is a unit of Viacom Inc. (NASDAQ: VIA, VIAB), one of the world's leading creators of programming and content across all media platforms.

About the College Board:

The College Board is a mission-driven not-for-profit organization that connects students to college success and opportunity. Founded in 1900, the College Board was created to expand access to higher education. Today, the membership association is made up of more than 5,700 of the nation's leading educational institutions and is dedicated to promoting excellence and equity in education. Each year, the College Board helps more than seven million students prepare for a successful transition to college through programs and services in college readiness and college success - including the SAT(R) and the Advanced Placement Program(R). The organization also serves the education community through research and advocacy on behalf of students, educators, and schools.

The College Board Advocacy & Policy Center was established to help transform education in America. Guided by the College Board's principles of excellence and equity in education, we work to ensure that students from all backgrounds have the opportunity to succeed in college and beyond. We make critical connections between policy, research and real-world practice to develop innovative solutions to the most pressing challenges in education today. For more information, visit http://www.advocacy.collegeboard.org.

About Get Schooled

Get Schooled is a non-profit organization dedicated to using media, technology, and popular culture to improve high school graduation rates and college success rates. Get Schooled connects with young American through its combination of on-air programming, online content, on-the ground events and school-based initiatives. Together with hundreds of schools, educators, and students, and boosted by partners like Viacom and the Bill and Melinda Gates Foundation, Get Schooled motivates and empowers students to make high school education a priority and college education a possibility. To learn more go to www.getschooled.com or follow Get Schooled at www.facebook.com/getschooledfoundation, or www.twitter.com/getschooled.

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