StudentFunder is a new, revolutionary, way of finding the money needed for education through crowdfunding. StudentFunder allows students to seek money from everyday people willing to donate instead of having to trawl through the shrinking mass of loan schemes, scholarships and bursaries. StudentFunder has been available for use from November 2012.
The current economic climate means that the number of bursary and scholarship schemes is sharply falling, while the number of applicants is rising. Risk weary banks are tightening requirements for taking out student loans. In summary this makes it very difficult for an international student to fund their education in the UK. The problem of lack of funds is even more acute at post-graduate education. Neither is the problem limited to the UK, there are many other countries with the same problem - USA, Mexico, Spain and Brazil just to name a few.
A solution is here. StudentFunder is a program launched by Juan Guerra which extrapolates on his personal story to create a way for any student to pay for a Masters degree. Juan was in the position of many now, a post-graduate student struggling to find the money to pay for his studies. As a last resort, he sent out an email asking everyone he knew for help. The response he got was overwhelming; people helped him in all sorts of ways, not only in cash. Together this help was more than enough to fund his degree. By establishing StudentFunder Juan helps other students who are right now in the position he was back in 2004, to do what he did and pay for their education using the goodwill of fellow individuals.
StudentFunder is much more effective than other platforms for crowdfunding in regards to paying for education because it only raises money for purposes of higher education in the UK. This means that students in need are exposed to their target audience directly and vice versa for donors who seek to donate to the provision of higher education. Obviously crowdfunding brings the added benefits of exposing one’s cause to a wider network than otherwise, potentially meeting new people and taking the awkward out of asking for financial help.