Are you struggling to raise money to further your education?
College tuitions have escalated over the years and experts expect the cost of education to continue to soar in the future. Students and parents are seeking for effective ways to ease the financial burden, including personal fundraising websites.
Each year, thousands of students finish school and enter the workforce with hundreds of thousands of pounds of student debt. Student Loan Calculator reports that the average annual University tuition cost in the UK is £9, 188- one of the highest in the world, making higher education out of reach to many. Those students whose families cannot afford to pay for their college tuition will either be locked out of higher education or be forced to graduate with huge amounts of debts.
The average amount of debt for each graduate in England stands at £32,220. During the financial year 2105-16, about five million students borrowed funds from the Student Loan Company (SLC). However, many graduates end up not repaying their student loans. In fact, 70% of students who graduated in England last year will have to make repayments for 30 years before they can have their unpaid loans written off. This compounds the problems students experience due to accumulating loan debts.
So what are the alternatives to taking a loan to fund your education?
1. Apply for scholarships and grants
Grants and scholarships are there to help needy students pay for college. Unlike student loans that have to be repaid, scholarships and grants help you finance your education without worrying about repayment headaches. State grants are given to students based on their financial need, academic merit, and location.
There are thousands of scholarships online that you can quickly apply for and secure funds for your college tuition. Simply follow the right steps to securing scholarship funds by ensuring you stand out amongst the competition.
2. Parent Savings
Parents can contribute heavily by saving for their children’s education. If your child has a healthy college savings fund, they will find it possible to attend college or their dreams. The best way to secure a sustainable college savings fund for your child is to begin saving early and invest on regular basis. Just remember, it is better to save than to borrow.
3. Education fundraising
Personal fundraising is one of the most effective ways to ask friends and family members to chip in and give their support. Whether you’re raising money for a laptop, textbooks, living costs or college tuition, you can rely on online fundraising to help you accomplish your goals. Even if you wish to study abroad you can use the power of education fundraising to get much needed funding and achieve this once-in-a-lifetime opportunity.
- Share your story in a clear and concise manner. Include in your campaign page details like your honors, awards, and extracurricular activities. Also, remember to state your plans for college including clubs, societies or study abroad trips.
- State which college you will be attending and what kind of expenses you expect to have. Don’t forget to write an appreciation at the end of your story.
- Ensure you include appealing photos of yourself and not school logo.
- Share details of what funding you already have whether it’s through grants, scholarships or parent savings. Indicate how much college funding you need but be sure to start with a specific, reasonable goal.
- Share your college funding camping widely via social media, texts, email and with friends and family once it is launched. Extend your reach by sharing with teachers, mentors, and lecturers, members of your faith community and alumni groups. That way, you’ll be able to raise more money from a wide range of audience.
As a bonus tip, you should always write from the heart with the aim of tapping into the feelings of your supporters.
Leetchi.com provides a fast, easy and secure way for individuals to get the financial support they need. Simply create an online money pot to cover literally any education expense including study abroad, housing costs, textbooks, laptop and more.
Create your personal fundraising money pot and start raising funds for your education today!