Every year it seems that it’s harder to pay for college. Around the world, many young people are constantly struggling with finding ways to apply for scholarships or student loans. But why try so hard when you can get money with crowdfunding? Learn how.
How to pay a university tuition through crowdfunding
Although it sounds complicated, crowdfunding can be used to pay for university studies. More than financing businesses or startups, this method of financing has many uses. Including the possibility of financing the registration to a university. However, doing so requires taking some things into account:
Establish what you need to pay exactly
You’ll probably not succeed if you’re looking to finance your entire duration in college. Some students set specific budgets, since they seek to use the money to have temporary support. As for example, the first six months or the first year. Either while looking for a job or another financing alternative such as a scholarship.
In some other cases, a student may ask for money to enter college and cover other expenses. Like accommodation, food, books and other supplies. It’s important that you define your budget very well. So when you post your campaign, people feel that it’s really worth making a contribution.
Start preparing your campaign
This is a process that can take 1 or 2 months. It’s important to carry it out to mitigate any risk of launching your campaign and not receiving money. During this time, your mission is to openly express your desire to enter college in social networks. And start creating a community of followers who are willing to help you.
In your case, you should seek help mainly from your family and friends. Along the way though, try to create a community that includes people beyond those mentioned above. You don’t have to limit yourself to social networks, you can also contact people who can help you through other means.
Are you going to offer rewards?
Rewards/perks are an essential part of any crowdfunding campaign. You can create a campaign without rewards but the probability of success is reduced. Rewards allow people to feel motivated to contribute. Beyond entering college being your biggest dream, everyone is not always going to support you just for the sake of it.
Don’t feel bad if you cannot offer rewards, in that case you should only support yourself in the good hearts of the people. But if you want and/or can offer them, you have many possibilities. The vast majority of campaigns to pay for college don’t have them and raise money. So having them could help you even more.
Prepare a video and description of your campaign
While you take 1 to 2 months to secure contributions to your campaign, you have other things to do. One of them is to write what’ll be the campaign’s description. There, you must tell your story with all the details. Don’t limit yourself, tell who you are, what inspired you to choose your career and other things that we mentioned above.
But in addition to this you must also make a pitch video, as we said before. In this short video (of at least 1 minute or 1 minute and a half) you must appear talking about these aspects. Mainly your identity, why do you need the money and the rewards if any. The objective is to show you in an open and personal way before everyone.
Publish your campaign
To get started getting contributions, you must have created an audience as mentioned in the previous steps. If you’re able to raise between 30% or 40% of your goal in 3 or 7 days, you can trust that you have a high chance of reaching or exceeding your goal.
During the duration of your campaign, you must stay active on social networks. Posting updates on your progress and motivating others to share your campaign. Never forget to thank all the support you receive. The most crucial moments to receive contributions in a campaign are the beginning and the end.
Remember, you need to prepare your campaign very well. Don’t forget that in addition to you there’ll be other people trying to get money for a university registration. So if you really want to get all the money you need, you’ll have to earn the people’s merit. Work hard on your campaign!
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Related: How To Use Crowdfunding To Finance Medical Treatment