CollegeBacker simplifies saving for college through 529 plans. Using the site, a parent can open a 529 for their child, determine a monthly savings goal that makes sense for them, set up their own contribution, and invite family and friends to participate.
Rather than having to go it alone, CollegeBacker brings family and friends into the process in a Crowdfunding mode. This relieves the parents' burden and provides their child with a community of moral and financial support. This translates into more savings for the parents and less debt for their kids.
CollegeBacker launched in September 2016. The Founder and CEO is Jordan Lee. The site is often compared to Wealthfront. The company is backed by Princeton University - Jordan's alma mater - and 500 Startups.