Did you know…
250,000 students in the UK alone are missing out on postsecondary education each year due to lack of funds.
What does this mean?
The increasing demand for loans and grants far exceeds the ever shrinking supply of funds and students are being forced to come up with some more inventive ways of paying for their studies. One of these solutions is CROWDFUNDING.
And that is where Student Funder comes in:
The company came about from the personal experience of the CEO, Juan Guerra, who crowdfunded his way into university, and offers an online crowdfunding platform where by running campaigns on the website, students can raise funds for their tuition or living costs in exchange for rewards or repayments.
Crowdfunding itself is not a new concept- there are many platforms such as Kickstarter and Indiegogo where people are selling products and services and raising millions of dollars- but using applying the process to funding education is a recent development.
Allowing students to raise not just donations but also social loans is even more novel. Given that most of our students are pursuing Masters Courses, their employability after graduating is high, and this idea is proving popular. The money is refunded to the investors if the student fails to reach their target.
How StudentFunder works:
The most obvious sources of donations are friends and family, and students are encouraged to raise at least 30% of their total target from them, showing that they have the personal determination and perseverance to raise their funds and succeed then Student Funder will then help them to progress to the next stages.
We are in the process of forming partnerships with higher education institutions in the UK so that once a student has reached their 30% target partner universities showcase the students’ campaigns to alumni in an attempt to gain support. We also ask the institution to provide match-funding, which is where the university matches the amount of money that the student has raised.
Funds for tuition fees are paid directly to the institution and we are working hard to build these solid links with universities so as to increase support for and awareness of the financial difficulties faced by so many students today. To the student we give support and advice throughout the entire process, from providing information sheets on creating their initial campaign to approaching organisations and institutions we believe would take an interest in the student. As a crowdfunder using Student Funder, you not only gain important credibility but also create networks which will last beyond your campaign. We have students who have been offered jobs from people who have invested in them, like StudentFunder’s founder was himself.
Student Funder’s launch in November 2012 we have seen two students, Charles and Rehan, successfully reach total targets of over £10,000 and another, Guelord, raised over £6,000, allowing him to accept a place at Coventry University. Our current campaigners range from Cathy, who wants to study Dance and Movement Psychotherapy following her work with adults and children with severe disabilities, to Jenny, whose ambition is to study Cancer Therapeutics at Barts Cancer Institute. There are currently five students live on our site and another 20 or so in the pipeline, preparing their campaigns.
Do you want to be another one?!
We believe that your personal means should not be a barrier to education. Each successful student on StudentFunder is encouraged to pay donations forward into another student’s campaign as soon as they are able. They also act as mentors for other students currently going through the crowdfunding process. With this system the funding and the help are recycled and perpetuated amongst the people that need them most. Crowdfunding is definitely the way forward!
Check us out at www.studentfunder.com
Its sometimes easier to see what other people think before making a decision and with Kingston Smith W1 letting us into their views of crowd funding, it makes it all the more easier for you to decided if crowd funding could help you. They have also given a break down on the different types of crowd funding. For more information about crowd sourced funding and how it may affect your position, contact specialist Technology & Media Partner, Richard Heap on firstname.lastname@example.org
Click the link – http://tqen.co.uk/wp-content/uploads/2013/04/crowd-funding-2.pdf
by Salvador Briggman, editor at CrowdCrux, a crowdfunding news and analysis website. Check out some of the crowdfunding tips here.
The late Nobel laureate and esteemed economist Milton Friedman is famous for his insights into government spending. In most economies the government acts as a middle man, collecting tax revenue from its citizens and spending it on goods and services that will benefit society as a whole such as national defense, infrastructure, and crime prevention. Naturally, these expenditures vary between states and the federal government.
Last March, I received my Raspberry Pi in the post after waiting months and spending all day trying to pre order one when the site went down due to the huge popularity of the little device.
And when I finally got hold of this swanky new piece of tech I thought to myself, as many of us do – “What do I do with it now?”
University of Warwick student, James Beavis, has raised more than £26,000 for charity Crisis, which raises money for homeless people.
The 22-year-old Biomedical Science student from Devon spent eight nights sleeping rough in Lewisham, from December 22 to December 30.
Missing Christmas with his family and friends, he said his motivation was twofold: “I wanted to get people challenging the stigma and stereotype attached to homelessness. People don’t realise how difficult being homeless actually is. Every day is a struggle. “I only did it for eight nights and nine days, but people go through this struggle 365 days of the year.”
by Cara Pleym
Intern at Bloom VC
As a young skint student myself, I can empathise with printing 4 pages per sheet because you can’t afford any more paper or ink, and giving up on the diet because let’s face it, it’s cheap and gives us an excuse to fuel study sessions with sugar. I also know what it’s like to pray for pay day and beg your mum for an extra tenner for ‘uni supplies’. There’s a lot that we have to give up and put to one side for our studies, but thanks to the revolution of crowdfunding, your ideas are no longer one of them!
At Hubbub, we meet a lot of people and talk to a lot of people about crowdfunding. We pitch to investors, education departments, student unions. And we have been explaining crowdfunding to the UK market now for over a year.
Move over Dragons’ Den, there’s a new kid in town. Kickstarter is heading to the UK! For those of you that are unfamiliar with Kickstarter’s crowdfunding concept, the site enables entrepreneurs to pitch ideas, products, services and creative projects to the site’s users, in a bid to gain enough funding to make their projects a reality.
I grew curious after coming across some articles discussing the decrease in alumni participation rates among colleges and universities. I wanted to figure out what was behind this decline – not only because quite a few of our clients utilize our fundraising services and have seen the antithesis of this, but also because I am able to draw from my own experience as I graduated in 2009. So I dug a little deeper, did some research, and applied my own insight to figure out some contributing factors as to why alumni are not more engaged with their alma mater. Four of the main reasons that I’ve come across and identify with are listed below.
A post by recently successful crowdfunder, Sarah Bedford of Durham University, on what she learned about crowdfunding through her own campaign with Hubbub. What can you learn from Sarah’s experience?