Feb 16, 2017 09:39 AM EST
A lot of people have used crowdfunding to get money for their projects and endeavors. Nowadays, it is also becoming a method among students who want to go to college but have no money to fund their education.
Although a lot of people have polarizing opinions about students using crowdfunding to finance their education, it has become a go-to strategy of many students nowadays. Thanks to the burgeoning student loan interests as well as the prospect of future unemployment, they seem to have no other choice left but to ask help from family, friends, and good strangers.
Asking help from family and friends is not easy but asking help from strangers is much more difficult. This is one of the main reasons why a lot of students don't consider crowdfunding as a source to get their degree. Then, there's also the stigma of the method as some people call it a form of e-begging as well as the backlash from the efforts no matter how pure the intentions are.
This was the case for Ellie Burch, a 24-year old art psychotherapy student who launched a crowdfunding campaign on Hubbub. She said that she wouldn't have resorted to crowdfunding; however, she graduated a year early making her ineligible for a post-graduate loan.
At first, she was reluctant because another student who launched her own campaign in 2010 was criticized. In order to stand out from the crowd and not accused of being selfish, she indicated that she will donate a percentage of her earnings to a charity.
One successful crowdfunder, Joanne Garner, who launched her campaign on Indiegogo, said that it's not easy to launch a campaign. She added that it requires a lot of research before launching. One of the factors that made her campaign successful was that she offered rewards to those who have given to her campaign. The incentives vary and increase depending on the amount the donor gives.
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