Funding the Future. How the "Feria-Fairy" App Can Revolutionize Education Funding for Latinx Families.

As a content curator, I strive to find content that speaks to the masses. Human truths can often take the form of humorous memes. The success of a great meme usually lies in its ability to communicate an obvious commonality we all experience. The most impactful memes often consist of spontaneous ideas or phrases that resonate universally.

Take this tweet that evolved into a meme from @Alex_FernTree.

"Damn, imagine (if) we had Padrinos (godparents) to pay for college things like we do for quinceañeras (sweet 15) and weddings? Like, "Yaass Tio, eres Padrino de math textbooks (Yes Uncle, you are the Godfather of math books). Gracias, Tia, por el ramen (Thank you, Auntie, for the Ramen), Lmao."

As the child of Mexican and Nicaraguan immigrants who incurred substantial debt to finance their graduate studies and having married a fellow law school graduate, my husband and I are deeply familiar with the burdensome student loan debts we expect to manage over the next twenty years. But what if we didn't have to? What if we could do what this meme implies? What if El Padrino, the Godfather, could make us an offer we couldn't refuse by shifting an established tradition into a way that crowdsources your education?

The role of godparents, or padrinos and madrinas, holds significant cultural importance within Latin American, Filipino, and Iberian traditions. This relationship typically begins with the child’s Catholic Baptism and extends through various life events. Godparents are entrusted with supporting their godchild spiritually, emotionally, and often financially during milestone ceremonies like quinceañeras and weddings.

According to a Shutterfly blog post titled "Baptism Gift Etiquette," published on July 9th, 2018, it is customary for godparents to spend between $100 - $150 on baptism gifts. In comparison, close relatives generally spend around $50. We've all had that abuelita or tia that liked to slip us a $20 bill when our parents weren't looking. The monetary gifts from a family or compadre over a child's life, especially the first 18 years, can accumulate exponentially.

Godparents from the millennial generation, aged between 28 and 43, represent the first cohort to engage with and adapt to technological advancements fully. Their godchildren are uniquely the first generation raised in an era characterized by established norms of connectivity, including mobile communications, applications, and social networking platforms. This dynamic has significantly transformed the traditional roles and interactions between godparents and their godchildren.

Data from the U.S. Department of Education reveals a significant increase in Latinx college attendance, with enrollment rising from 2.6 million in 2010 to 3.7 million in 2021. Despite this growth, challenges persist, primarily due to the significant underrepresentation of culturally diverse faculty and staff in colleges. This gap adversely affects Latinx students, who exhibit lower graduation rates and higher dropout rates compared to the national average. These students often face additional hurdles as many are from low-income backgrounds and are first-generation college attendees.

So here's the "big idea." What if every time kids got cash gifts for their baptism or birthday from their cool, techy godparents or family members, there was an app that could stash that money away for college? Picture being able to put money into different pots for things they’ll really need down the line—like textbooks, school supplies, meal plans, clothes, travel costs, and even a bit for self-care and fun stuff to keep them happy. It's like setting up a savings account where items can be financed for future use from companies like Amazon, Apple, and Microsoft, alongside big banks like Chase.

This app could be a fantastic tool for Latinx godparents and future college students, enhancing a cherished cultural tradition with modern efficiency. Latino families are known for their deep commitment to supporting aging family members and the educational aspirations of the younger generation. By leveraging crowdfunding to invest in a godchild's education, families can significantly reduce generational debt. This forward-thinking approach makes it easier for future generations to support their elders, including parents, godparents, and other relatives.

Moreover, godparents who contribute to such funds will not just see a financial return on their investment; they'll enjoy the profound satisfaction of playing an integral role in breaking cycles that often confine many within the Latinx community to low and middle-wage jobs. This empowering platform thus promises dual benefits: nurturing educational opportunities while strengthening familial bonds across generations.