What Is Crowdfunding And Why Is It Done?

Education activism is extremely important. If you are associated with any educational institution as a teacher or in the administrative board then you would definitely know the importance of funds. There are numerous organizations that collect funds for the development for school in varied manners. 

This helps in the development of the school by the funds accepted in donation from different sources such as individuals, alumni, peers and much more. The terms are set by the school. Raising money for school comes with numerous advantages. Here are various benefits that come with crowdfunding:

  • When you use crowdfunding portal to help your project, often you are charged a management fee. It acts as a commission for the portal which goes into the account of the portal as their income. In crowdfunding portals meant for schools, charges no service cost. Hence, this unjustified amount is not charged which makes it easier for donors. 

  • This also has a benefit for the school. The portal charges an amount that is really low from the amount raised for the school. Just a 3% from the whole amount goes to the portal. No added charges are applied to the raised money.

  • On portals like these, there are no limitations. People from all over the world can contribute to the betterment of the school. You do not have to be an alumnus of the school to be donating money. You can just be a parent of a student, friends, family, even the part of the government to be contributing.

  
What Makes Crowd Funding Save And Best

Crowdfunding is the best available option in the market right now. The reason for that is that there are no complications in this process. Transparency is maintained in the entire process. It is explained in detail how the company works and the profits earned by the company. Crowdfunding focuses on the betterment of the school and the projects rather than their own profits, unlike banks. The portals do not even charge the donors a management fee.

Also in comparison to school loans, crowdfunding is way cheaper and better as you do not have to pay back the loan, let alone paying any kind of interest. Here the main focus is on the development of the school and the money is contributed by enthusiasts who just want the betterment of the institute. This is one of the major reasons why people go for crowdfunding their projects in place of taking loans from banks.


These are the benefits of the crowdfunding portals. You can use these portals in two ways. Either you donate to the schools that you like and wish to see them develop. Or you can list your school on the portal and open it for donations. This helps a lot to all the schools and helps in the development of overall education in the country. Therefore, it is clear why you should opt for public funding instead of bank loans. 

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