How to: use crowdfunding to fund your education
As we grow into teenage, all of us have more practical aspirations than in our childhood. This is also the time when we start making functional plans to achieve those aspirations. Unfortunately, many of us come to a big roadblock in the form of lack of financial resources. However, in the recent years, crowdfunding for one’s education has emerged as a great way to overcome this hindrance.
In case, you are among the ones who are all starry-eyed yet worried about the monetary burden of your dreams, crowdfunding can help you a lot. In today’s #TuesdayTips post, we will discuss a few ways of doing this effectively.
IT ALL STARTS WITH A GREAT STORY:
Your story is how the potential donors will assess your need, and whether they must contribute towards your education. Make a good case for yourself. Back it up with pictures, documents, any kind of ‘proof’ of the pudding.
You can make this more personal by sharing your dreams and aspirations in the story. Perhaps, there could even be a social dimension to your aspiration. Like in case of this fundraiser going on on Crowdera currently. Here Pankaj specifies that after completing his course, he plans to set up a research institute to study more comprehensively on schizophrenia and other mental disorders.
You could also start a Facebook page, or a blog where you regularly post about your story in detail. You could also build it up episodically and keep posting throughout the duration of your campaign.
GIVE A VERY CLEAR PICTURE OF THE FINANCIAL SCENE
This is a very important point in terms of winning the trust of possible donors. And, its not just about your current monetary scenario only. It is also about the money you will gather through your campaign. It has to be very clear what are the various heads under which expenses are made, and how much goes under each head. If possible, put this information up in a tabular or graphic form.
BE CREATIVE AND GENEROUS WITH YOUR REWARDS
As a young student, there’s a hundred things you could do for the donors. It could range from making something entirely by yourself for them. Even a personalized poem, song, sketch or painting could be a great reward. Use up any of the creative instincts you have to come up with attractive rewards. Also, keep different rewards for different price points of the donations. Start at a relatively small amount that most people can afford, say $50.
BE WARNED: YOU WILL HAVE TO USE ALL SOCIAL CONNECTIONS
There are people who hesitate to tell their own family and friends about their crowdfunding campaigns. However, they would be your biggest asset through the whole process. Not only will they be your first contributors, but it would be with their help that you will be able to reach more people. So, make sure to have your people on your side before getting on with crowdfunding.
REACH OUT TO SENIORS, ALUMNI, TEACHERS
Due to their affiliation with the subject, or the institution, the seniors, teachers and alumni of your prospective school/college would be helpful. Without being to intrusive, try posting about your campaign in the various channels where these people are likely to hang out. You could also put up a small note about it on a couple of bulletin board visible to all.
MAKE SPECIAL CONNECTIONS WITH ALL CONTRIBUTORS
Irrespective of the amount they contributed, make sure to thank every donor appropriately. While some of them will opt for the rewards, even those who don’t must be acknowledged. It could be something as simple as writing them all an email, or posting hand-written ‘Thank You’ notes to all of them. Also, make sure to provide them periodic updates about your academic progress.
Do you find yourself ready to crowdfund for your education yet? If you need more information, come over to Crowdera and talk to our crew. If you are ready, come over to start your free fundraising experience.