Web site helps students raise funds to study abroad

Countless college students want to study abroad, but with tuition costs rising and travel prices being what they are, it's become an unrealistic option for many. The people behind myTab.co hope to change that.

According to the Web site, myTab is an online travel gift card where you can "gift travel cash to friends taking a trip, save travel cash on your own account, plan a trip for yourself or with friends and redeem your funds towards your trip."

For example, if you're planning to study abroad, you can post a link to your myTab account on your Facebookpage asking friends and family to donate money to help lower the cost for your trip.

"People are always scrambling for the lowest price," said Heddi Cundle, founder of myTab.co.  

However, according to Cundle, there really is no such thing as "the lowest price."

After all is said and done, the price you pay after wasting your time looking for the lowest one is most likely going to be very close to, if not exactly the same as the first price you found.

MyTab has partnered with Expedia and together they guarantee to find you the lowest travel prices available.  With the Web site, the price you pay will be even lower because you will have acquired gift money from family and friends.

However, is asking people for money via social media sites considered stingy?  Cundle says it isn't.

"It's okay for students to be able to ask for cash," she said.

But even if you're not comfortable with doing that, there are ways to approach it that won't make you seem like a total cheapskate. 

Say your birthday is coming up.  You can create a post telling your friends on Facebook to skip the generic gift cards for iTunes or that store in the mall you haven't even shopped at since eighth grade and have them put that money towards your trip instead. 

That way you're not asking for anything they wouldn't be giving to you anyway.

What about those people you know would contribute to your cause but haven't caught onto the social networking fad yet? 

Don't worry - Christmas will be here before we know it, and this year you can send Grandma an e-mail telling her to skip the handmade sweater and put your gift on your myTab account instead.

Another major bonus to using myTab is that they think about the things that other study abroad providers don't.  The majority of the other providers don't include travel costs in their price, and that's how they might trick you into thinking you're getting a better deal, but myTab includes everything.

One of the Web site's most interesting features is that if you have money leftover you can use it for several different things. 

You can either use it towards your next trip on myTab, re-gift it to a friend to use or donate it to one of the site's six featured eco-charities.  These charities include the Environmental Media Association, Nature Conservancy and WildAid.

Even if you don't raise enough money on myTab to cover the whole trip, it's okay.  You can use whatever you have made and pay the rest separately.

The use of PayPal for gifts and saving allows for safe and secure transaction of funds.  In addition, the site has no fees or expiration dates. There really is no catch.

A new and updated version of the site went live on Thursday with easier navigation and more features to make it simpler to plan your voyage.

MyTab is currently working with six different study abroad partners and would love to join with more universities.  They are really looking to expand and hope to someday be able to offer even better deals than they have now.

Cundle explains why the site makes so much sense with a simple analogy.

"If you're looking to buy a Wii and Best Buy is having a sale, but you have a Target gift card and it only costs slightly more there, you're going to use the gift card."