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Crowdfunding for Higher Education – Things to Look Out for

    Fundraising Tips for Higher Education

    In today’s world, most students need to work their way to excel in the career of their choice. There is overwhelming competition in India and receiving quality education continues to become more and more important. Moreover, nowadays, the access to education and application processes at institutes of international standards are quite prominent. You can merely search for the institute of your choice and apply directly on the website.

    Similarly, with the rise of education-hungry youth in India, there has also been a consequent rise in ways students can fund their higher studies. Previously, there were scholarships, fellowships, or a bank loan as the available options. These were incentivized to attract the top-ranking students and those who couldn’t directly pay the tuition fees. This is especially true for most international universities such as Harvard, Stanford, Sciences Po, Cambridge, and Oxford.

    However, there are multiple newer and more convincing options for you to choose from. The most prominent options include crowdfunding for your higher education needs. In this regard, here are a few things to look out for if you are planning to launch your own fundraising campaign and aid your dream and career.

    Platform Charges

    There are many online fundraising platforms available. However, while registering on any such platforms, it is important to keep an eye out for the payment these platforms charge as taxation or convenience fees. 

    There are a few online crowdfunding platforms that allow free registration and listing of your crowdfunding campaign. These operate with low costs and only charge the transaction fees that your bank or the benefactor’s bank requires. While free registration and listing are attractive to everyone willing to launch a fundraising campaign, the hidden charges that are usually associated with the withdrawals must also be checked. 

    Account Verification

    For a donor, it is absolutely integral to know the status of the benefactor while contributing any sum of money. Hence, if you are planning to start a crowdfunding campaign for acquiring funds to sponsor your higher education, it is recommended that you first complete your profile or account verification process on the platform of your choice. It is also ideal to use your own real name instead of staying anonymous or using an online alias. On Ketto, this process is entirely free and interactive; hence it is incredibly easy to use. There is immense security involved as well. 

    This will create a sense of relation and humanize your profile details and help you highlight your cause. You are more likely to accumulate the desired goal amount within your payment deadlines if:

    • Your account is set up completely.
    • Your bank accounts are linked and verified. 
    • Your address and cause are verified.

    Fund Disbursement Process

    The process of disbursing the collected amount to the benefactor’s verified bank account is an integral step in the entire crowdfunding campaign process. This is when the surcharges, platform-related fees, bank fees, transaction fees are charged. And, this is also when you will be able to put your crowdfunding collection into proper use.

    A small handful of platforms, like Ketto, allow you to collect these funds with a simple touch of a button. Above all, there are no hidden charges or platform fees associated with such withdrawals. There are no lower or upper limits for the withdrawals. 

    Moreover, Ketto also supports foreign currency transfers and allows an individual to withdraw the funds upon authorization. This is of utmost importance because most International Institutes where you may want to pursue your higher education may not accept the donation directly. 

    Accuracy of Description(s)

    The first impression that your campaign creates on the contributors and donors depends on your campaign descriptions, title, and the images you choose to attach with it. So, if you are planning to launch your online crowdfunding campaign to fund your higher education, you must write about your desired goals and remain as transparent as possible. 

    You can highlight the need for the funds and the nature of your cause. Provide accurate details of your previous academic records, attach a few relevant transcripts and the letter of acceptance from the institute you are applying to. Above all, state the accurate reasons beyond why the donors should consider helping you and what makes your situation unique and important.

    Benefactor Account Details

    You will probably receive international and anonymous donations if you start an online fundraising campaign to pursue higher education from a reputed world-class institute. In this respect, you should know if your bank details are accurate and whether or not it allows for such transfers.

    If you are the benefactor, in essence, if the funds are to be transferred to your bank account, you should consult with the bank in this regard. Or, you should choose and authorize a benefactor who has a bank account with international payments activated. This will ensure a seamless transfer of funds to and from the benefactor account and the platform of your choice.

    These were a few of the important things one must lookout for while launching an online fundraising or crowdfunding campaign. Online crowdfunding platforms, like Ketto, are highly interactive and quite easy to use.

    More and more donors and benefactors alike are taking up the challenge to raise funds using such online crowdfunding platforms for notable causes. If you are a student in need of funds for taking admission into your dream foreign college, fundraising or crowdfunding is a great way forward. To learn more, visit the Ketto website.

    Sushant Peshkar
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