Using Crowdfunding For College Tuition
Alternative methods of funding businesses have become wildly popular as of late. One of these methods, crowdfunding, has now become popular with college students as well to fund their education.
Raising Funds From The Crowd
Tuition is expensive, and traditional funding methods do not always cover the entire cost for some students. This is why crowdfunding has been viewed as a potential alternative for some. According to US News, Joshua Samuels was one of those students who couldn’t quite cover all of his college expenses. Being nearly $3,400 short on his tuition, he decided to try something a bit different. They say this about his experience,
Rather than go further into debt, Samuels decided to try the website GoFundMe.com, where he appealed for help to friends and strangers. Within two months, he had raised the $3,380 plus GoFundMe’s 5 percent-per-donation fee.
Who Funds This?
There are so many who struggle to make their tuition payments, so it is fair to wonder who would fund the bill for someone they don’t even know. The short answer is a lot of different people. It was not one individual who sent Joshua the $3,400 he needed, but rather, it was a crowd of people. Some may have sent as little as $5, but if you get a lot of people doing that it makes a big difference. Alumni from the school got into the act, and friends of Joshua’s actually threw a benefit concert for him to raise money.
It Takes A Village
The old saying is that it takes a village to raise a child. Now, some are seeing the value of that mentality in other areas as well. Paying for college is something that the community can aid one another with if they are willing to participate in crowdfunding. It is an innovative way to solve a growing problem.