CrowdFundEDU
 | |
Type of site | Crowdfunding |
|---|---|
| Available in | English |
| URL | crowdfundedu |
| Commercial | Yes |
| Launched | 2012 |
CrowdFundEDUwas a US-based private for-profit company founded in 2012 that provides acrowd fundingwebsite foreducation.People hold online fundraisers to get contributions fortuition,student loans,[1]books and supplies, sports equipment, events and extracurricular activities.Student debtis recognized as a growing financial burden to young adults, but crowd funding brings an alternative to this form of lending and is considered by some to be one of the greatest financial creations of the digital age.
Students and educators can fundraise for all levels and types of education, not justcollegeanduniversity,but alsovocational school,grades K-12 and for a career trainingseminar.[2]People can fundraise for individual needs or forschool fundraising.It has been described as the “Kickstarterfor education”.[3]
Many of the fundraisers on the site seems to be focused on college students hoping to raise funds to pay tuition or student loans, but there are also online K-12 school fundraisers,[4]teachers raising funds for classroom expenses, as well as people crowdfunding for e-learning platforms and elementary-age children.[5]
Concept
[edit]CrowdFundEDU provides users with a platform to create a fundraising page, offer rewards for different contribution levels, and share their fundraiser throughsocial media.There are many other crowd funding sites, but CrowdFundEDU is a niche site that focuses on education.[6]
CrowdFundEDU seeks to broaden the scope of educational fundraising from the local community to the global population through the use of people's social networks of family, friends, co-workers and colleagues, who can help further spread the word through their own extended networks.[7]Success in funding is largely contributed to the fact that it is easier for many contributors to donate a smaller quantity of money than for a single person to donate a large sum of money.[8]
Model
[edit]CrowdFundEDU has a flexible funding approach, which means that fundraisers receive the contributions whether or not their funding goal is reached by the deadline. CrowdFundEDU charges 5% to the fundraiser if the goal is reached and 9% if the goal is not reached. .[9]The difference in fees is to encourage fundraisers to set a realistic goal.
CrowdFundEDU is a preferredPayPalPartner and uses PayPal for all fundraising payment processing and transaction services.[10]
Categories
[edit]Fundraisers are categorized into the following categories: Student Debt, College/University Tuition, Trade School, Books & Supplies, Sports, Visual & Performing Arts, Extracurricular Activity, Event & Field Trip, Study Abroad, Certification, Seminar & Workshops, High School Fundraisers, Middle School Fundraisers and Elementary School Fundraisers.
See also
[edit]References
[edit]- ^"Crowdfunding Tackles Student Debt Crisis"Archived2013-06-20 atarchive.today,ABC NewsArchived2013-06-03 at theWayback Machine
- ^CrowdFundEDU - AboutArchived2013-07-05 at theWayback Machine
- ^"Crowdfunding Brings Relief to Student Debt Burden"
- ^Borchardt, Debra (August 27, 2013)."Crowdfunding for College".The Street.
- ^Riddell, Roger (September 4, 2013)."Short on funding? Try these 5 education crowdfunding options".Education DIVE.
- ^"HotSpot 3 – Donald Trump and Dollar Bills: Crowdfunding for the Masses",Civic Paths, University of Southern California,accessed June 02, 2013.
- ^Grossman, Michelle (August 8, 2013)."Crowdfund Your Way Through College".The CollegeBound Network.Archived fromthe originalon September 22, 2013.RetrievedSeptember 17,2013.
- ^Hernandez, Jesus (September 3, 2013)."Pay for College with CrowdFundEDU".The Angler.
- ^"Crowdfunding A Better Classroom, One Penny At A Time",Xconomy,accessed September 05, 2013.
- ^"PayPal Partner Directory".Archived fromthe originalon 2013-05-17.Retrieved2013-06-02.
