Global crowdfunding websites have raised cash for everything from start-up tech companies and the latest gadgets to charitable causes and art projects. But these days, tuition, school supplies, and class projects top the roster. For students at Carleton University in Ottawa, crowdfunding has become part of the curriculum, literally. The platform, FutureFunder allows students to crowdfund for education-related projects with goals between $1,000 and $25,000. The award-winning platform was developed in response to donors (alumni, faculty, staff, students and parents) saying they wanted to make a more direct impact on students’ education through specific projects rather than general funds. Since its launch in 2013, more than $900,000 in one-time gifts has been donated to approximately 150 community-led crowdfunding projects. About one-third of all projects have been fully funded, while the majority raising at least some funds. “Our crowdfunding platform helps students pursue the margin of excellence – the extra investments that can turn a great Carleton education into a transformational one, or enable a promising scientific discovery to become a world-changing idea,” says, Ryan Davies, the unversity’s director of advancement communications. Today, with dozens of projects on the go, FutureFund is raising money for anything from bursaries for refugees and student memorial funds to boats for the rowing team and studying coral disease in the Caribbean sea. The platform has evolved to include all of Carleton’s fundraising initiatives; there are no commission fees and tax receipts are provided. Carleton’s FutureFund is not the only tool making headlines for education-based crowd-funding. Last year, 32-year-old Toronto native Tonika Morgan – who was once homeless – shared, on Facebook, her Harvard University acceptance letter, alongside doubts that she could afford the $71,000US total bill, including $43,280 in tuition fees.Morgan launched a GoFundMe crowdfunding campaign with a $50,000US goal. To date more than $95,000US has been raised to put toward her post-secondary dream. Morgan’s campaign is not the only success story. Last April, a 19-year-old London, Ont. secondary student Justin Alexander – originally from Winnipeg and also reportedly homeless while he attended high school – raised more than $2,500 through GoFundMe.com for tuition fees at the University of Western Ontario. “(Tuition) is becoming more difficult for students to pay for, and scholarships are becoming more and more competitive,” says Kelsea Little, spokesperson for GoFundMe.com. “Crowdfunding for (education) costs offers a fresh alternative that anyone can take advantage of.” According to Little, GoFundMe.com’s Education, Schools & Learning category has raised more than $50 million for education-related campaigns since the platform’s inception in 2010. But not everyone is convinced by this digital fundraising endeavour. OCAD University student, Jennifer Lorraine Fraser, launched a crowdfunding campaign on Boxing Day last year (Dec. 26) via Indiegogo.com to raise funds for her thesis exhibition. The campaign, which closed on Feb. 14, made just $250 of Fraser’s $3,000 goal. Fraser will receive $217, after giving 5 per cent to Indiegogo, and losing 3 per cent with the currency exchange. Though she’s grateful for the support from friends and family, Fraser says she found the application challenging to navigate, was unable to post images without paying an extra fee, and received dozens of spam messages, rather than donor interest. “It took up a lot of my time when I could have been writing my actual thesis,” says Fraser. “Maybe I didn’t do it correctly, but I was hoping for more engagement from donors.” Experts say a successful campaign takes strategy, proper execution, and understanding who your donors are and how to target them. “Many people think they can just post a project and there will be a great groundswell of traffic that will find it,” says Davies. “But you really have to have a plan for marketing; you have to think about who your donors may be and how you will reach them.” Some simple tips to follow include: Engagement is key. According to Davies, the most successful projects are those led by students who are highly engaged. “Those students who are really creative and very active on social media and are reaching out to engage the community in what they’re trying to do will be successful,” he says. Have a plan. Putting together a marketing plan is the first step to a successful crowdfunding campaign. Little recommends attracting donors with a bright and colourful design and concise campaign description. Extend your reach by sharing regularly with friends and family on social media. “Social media tools are built right into your GoFundMe dashboard, allowing you to quickly reach out to your friends and family,” she adds. Set realistic goals. Sure, you’d love to raise $40,000 to put towards your tuition, but setting such a lofty goal may discourage donors. A donor who wants to give $20 and sees such a high target, may think their donation isn’t worth it. While with a campaign goal of $5,000, donors will feel their contribution will have a greater impact.
A platform set up at Carlton University in Canada allows students to crowdfund education-related projects that have goals more than $900,000. Since its launch in 2013, between $1,000 and $25,000 has been donated to approximately 150 community-led crowdfunding projects. About one-third of all projects have been fully funded, while the majority raise at least some funds, and projects can be as diverse as bursaries for refugees or trips to the Caribbean to study coral reefs.