Funding a project or venture through crowdfunding involves raising money from a large number of people who each contribute a small amount; this generally happens online. Fundraising involves donations or investments from individuals and organizations in return for potential profit or rewards.
You may be wondering why a complete stranger will want to help you pay for your degree, they do so because you are offering them a reward for investing their money.
Due to the fact that the United States has been able to generate over $17 billion in crowdfunding revenues over the years, businesses and individuals are increasingly turning to crowdfunding websites to raise funds. Online crowdfunding has gained a lot of attention recently because of its ability to reach a wide range of people quickly.Are you thinking of a way to crowdfund your education? Here are a few sites to consider:
- GoFundMe Looking to raise funds to support your education? GoFundMe is a great platform to help you achieve your goal. One great thing about the site is that it highlights that it is for “personal causes”.
- Indiegogo Indiegogo is a great platform that combines both fixed and flexible funding campaigns. What this means is that if you choose to opt for the fixed campaign, you’ll only receive your money when you reach the target goal and if you choose to opt for the flexible campaign, you’ll collect your money even if you do not get to your target goal, only, you’ll be required to pay higher. Other fees that Indiegogo requires are a 5% platform fee, a transfer fee for if money has to be transferred into your bank account, a 2.9% transaction fee depending on your country for every transaction performed.
- Ketto Ketto is another platform that offers opportunities to crowdfund your education. It offers this opportunity not only to students and teachers but to anyone who is looking to raise funds for education in the world. One advantage of the Ketto platform is that it gives you an opportunity to belong to a community that is willing to help.
- GradSave GraduateSave, which has registered more than 11,000 educational fundraising projects, has made it easier for those seeking to raise funds for a college degree.
- ScholarMatch ScholarMatch is an awesome platform in San Francisco to crowdfund your education if you are willing to pay back to the community by providing similar service to other young people. It also provides financial counselling.
- Pave Pave is a platform that lets you raise money for your educational expenses by agreeing to pay backers a percentage of what you earn in the future.
There are also platforms like Ulule, SeedInvest, Fundly, and GoGetFunding that offer fundraising, but they aren’t specifically designed for fundraising education.
As a way to assist those unable to afford their education, crowdfunding has proven to be a valuable tool. You can easily raise money by using crowdfunding platforms, but be sure to read the terms and conditions of platforms you choose for your project campaign.