The advent of globalization has brought with it many new avenues for people seeking higher education. It is not uncommon for aspiring students to fly halfway across the world to pursue a degree in a subject of their interest. While higher education was once a privilege for a select few, it is now a readily available feature of the modern economy. However, financial restrictions can still make it challenging for some people to pursue higher education. Loans are easy to get but difficult to pay off. Here is where crowdfunding platforms come in. They provide a valuable alternative for people who have limited resources and need external support.
Are you also wondering about how crowdfunding is viable for someone pursuing higher education? Fundraising for an undergraduate or postgraduate degree can often become a complicated ordeal for people with limited funds. This article provides a few reasons why using crowdfunding platforms to finance higher education is a great idea. You get the funds, sure, but there are several other perks to partake in. If you want to pursue higher education and would like help with the tuition fee and other expenses, keep reading.
1) No debt
The most significant deterrent for someone looking to use loans to finance their education is that they often require a high level of collateral. For many families with limited means, this is not an option. A loan without providing enough collateral means the interest rate will be high.
Crowdfunding circumvents all of these issues by putting no responsibility on the candidate to repay the amount raised. This means that the student can graduate from college without any debt, which can be very liberating when starting their career.
2) Raising funds for additional expenses
Gone are the days when parents were solely responsible for paying the education fee of their children. Nowadays, there are numerous ways to finance education. While loans are usually provided only for tuition fees, crowdfunding websites can also be used to raise money for additional expenses.
For students looking to travel abroad for their education, flight tickets and living expenses can often be a high cost to bear. Crowdfunding platforms now allow students to raise funds for these non-tuition costs. This can reduce the burden on the family and keep the student from compromising on their standard of living while pursuing a quality education.
In fact, it is also recommended that students lead the campaign but parents can also set up a campaign on their child’s behalf. While it is advised that students learn to manage their campaigns, multiple people can work and fundraise for your cause. In this case, all the managers will receive instant updates of a fundraiser’s progress on a real-time dashboard.
3) Crowdfunding as networking
One of the less obvious facets of a crowdfunding platform is that it is also a social tool. Applicants can use the platform to reach out to their friends, families, and communities once the campaign has been set up. The platform can thus serve as a publicity tool for students looking to expand their network.
When students graduate from college, they already have an established support group. This can reduce the pressure of making new connections when looking for work. Additionally, people who have invested in the student may now choose to further their relationship by employing a trusted candidate. In fact, instead of reaching out to a local audience for a fundraiser, the global community can reach out to educational pursuits.
4) A valuable addition to a CV
Crowdfunding requires work, and a successful crowdfunding campaign is a significant achievement. A successful campaign illustrates dedication and motivation on your part and demonstrates that you have the skills required to bring a project to fruition. In other words, while it may be easy to create a crowdfunding campaign, it requires a lot of diligence and commitment to ensure its success.
Gone are the days when companies used curriculum vitae to only recognize your educational qualifications and work experience. A successful crowdfunding campaign on your CV proves valuable in the long run.
5) Building confidence
A crowdfunding campaign is a great way to finance your higher education because it can help build confidence for the aspiring student. It is one thing to say that you believe in a person’s potential and another to back that thought with a monetary value.
Very few students go into college feeling encouraged to pursue their interests. A successful crowdfunding campaign can go a long way in ensuring that students feel motivated to immerse themselves in their subject of interest deeply. This is particularly true for those who wish to pursue a career in alternative fields such as art-making, as there is generally a lot of trepidation when seeking education in such areas.
We have, in this article, provided a few reasons why students should look into crowdfunding for education. At Ketto, we provide the platform to start such campaigns with a 0% fee. Ultimately, the main aim of a crowdfunding platform is to help the student take on the necessary responsibilities without feeling pressured. It can be highly empowering to raise funds for your education without feeling the burden of debt that comes with taking a loan.
If you are a student looking for a feasible way to pursue your education in any field, you should start a campaign on Ketto today! At Ketto, we take pride in offering campaigns for a 0% platform fee. Any amount raised after the transactional processing fee is yours to keep.
Ketto accepts donations from all debit and credit cards, net banking, UPI, and online wallets from anywhere in the world. You can also receive funds without any hassle directly to your bank account.