How is Crowdfunding Helping the Education Sector?

Posted by Daniel Martins on July 6th, 2021

With the growing use of technology, crowdfunding has emerged as a saviour for many industries. Among many others, the education sector has also become a big benefactor of crowdfunding fundraisers. Especially in developing countries like India, many educational institutes depend greatly on external funds. Keep reading to find out how crowdfunding is proving revolutionary for the education sector of India.

Crowdfunding is rapidly becoming one of the most popular ways of raising money. Here, the fundraiser uses social media, peer-to-peer impact, YouTube, Facebook and other internet tools to raise fund for their cause. One of the reasons for its quick popularity is that it reaches a wide audience in a very short time. Hence, this platform is being used in India to help unprivileged children, teenagers, and adults achieve their educational goals. Here are a few cases where crowdfunding has emerged as a ray of hope in people's life.

• Fundraising For Individuals Living Below Poverty Line: While many in the country enjoy top-notch private education, most of our country either turns to government institutions or drop the idea of education to provide for their families at a very young age. There are NGOs working day and night to recruit such individuals and provide them educational opportunities so that they can have better lives. Crowdfunding helps these NGOs to raise money when the government can not provide them with enough funding.
  
  
• Funding Educational Infrastructures: You might be paying your child's school to build a better building or repair the existing one. Many schools hold competitions, carnivals and more to raise money as well. This type of crowdfunding is very common and successful since parents look at it as an investment in their child's future. Many NGOs and government organizations also build educational institutions from the fund raised by crowdfunding through different platforms. Some schools and colleges also raise funds for building specific parts of their infrastructure, such as a science lab or a sports ground.
  
  
• Scholarships: Many educational institutes provide scholarships to deserving students. Based on the criteria set, students can get access to concessions or even free education. While these scholarships help in giving deserving students a chance at a high-quality education, they can put a dent in the institute’s budget. Many colleges and schools look for sponsorships and fundraisers to raise funds for the program. This helps the school attract good students and also helps the deserving students get free or minimal-cost education.
  
  
• Essential Field Trips & Educational Tours: Many fields require on-hand experience that usually takes place on field trips. Educational tours are also an important part of visual learning to better understand any particular subject. Most government schools do not have this option of taking the children on such educational trips because of low funds and a large student population. Crowdfundraiser targeted for this purpose can help the students to learn more efficiently and later apply the concept in their lives.
  

  Along with the ways mentioned above, many more parts of the education sector can benefit fromeducation crowdfunding. More than 60% of India’s learning population goes to government schools and colleges in constant need of funds. With internet access being easily available, you can find trusted crowdfunding platforms such as Ketto and start a fundraiser of your own!