Crowdfunding for Education: A Guide to Financing Your Masters

Crowfunding for education means raising money from a large group of people in order to pay for your study, usually through online platforms like GoFundMe. Anyone can try to crowdfund their Masters, but there's no guarantee you'll be successful. Crowdfunding is an option for people who aren't eligible for the postgraduate loan, or want to avoid being in debt at all costs.

Let’s face it: paying for a Masters can feel like you’re trying to fund a moon landing with a piggy bank. But what if the answer isn’t a loan or a scholarship, but simply... asking for help?

Crowdfunding for education is an increasingly popular option for students who need financial support. In this guide, I’ll explore what crowdfunding is all about, who should consider it, and how you can set up a campaign that might just get you one step closer to that Masters degree. Grab a cuppa – let’s dive in.

So, crowdfunding – it’s not just for people asking for money to make the next viral cat video or launch the world’s first hoverboard (though we’re still waiting on that). In simple terms, crowdfunding for education means raising small amounts of money from a large group of people, usually via online platforms. Think of it as a digital version of asking everyone at your wedding to pitch in for your honeymoon.

When it comes to education, you’re asking your friends, family, and maybe even a few generous strangers to contribute to your tuition fees. It’s a way of gathering support for your studies without relying on the traditional student loan route. Plus, there’s something oddly satisfying about the phrase "I’m raising funds for my Masters" – you know, like you’re a very academic entrepreneur.

In short, instead of relying on a single large source of support for your Masters (such as a postgraduate student loan, bank loan or scholarship), you reach out to large numbers of supporters.

Spoiler alert: anyone can set up a crowdfunding campaign for their education, provided they’ve got a good pitch. Whether you’re fresh out of your undergraduate degree, a seasoned professional looking to level up your career, or someone with a niche Masters that only 12 other people on Earth care about – you can crowdfund. All you need is a story that resonates and a platform that’ll help you shout about it.

Your funding journey won’t be handed to you on a silver platter, though – you’ll need to show potential backers why they should part with their hard-earned cash. If you can do that, you’re off to a good start.

Ah, the dreaded what if. Look, crowdfunding isn’t like that time you set a New Year’s resolution to eat less chocolate and then caved after three days. If you don’t meet your target, the outcome depends on the platform.

Some sites operate on an "all-or-nothing" rule, meaning if you don’t hit your goal, you get nothing (and potentially a few awkward follow-up emails). Others let you keep whatever you’ve raised, even if you don’t hit your target – though let’s be honest, a £10 contribution isn’t going to pay much of your tuition fees.

The takeaway? Be realistic about what you can achieve and how much you’re willing to hustle for. No one’s going to send you £10,000 just because you’ve got a nice smile (sadly).

It should be obvious by now that crowdfunding is quite different to other forms of postgraduate funding.

This has advantages and disadvantages.

Advantages

For one thing, crowdfunding is highly flexible. There are no eligibility criteria and no deadlines, except those you set yourself. Provided you’re honest, any student can crowdfund for any Masters. And you can start whenever you like – before your course, or even during your Masters.

It’s also up to you to decide how much you want to raise. You don’t necessarily need to crowdfund the full cost of your degree. Instead you might look for smaller amounts of support to ‘top up’ a postgraduate loan or other funding.

Disadvantages

The freedom to set your own goals and organise your own campaign comes with the understanding that funding is not guaranteed.

You’ll need to work hard on your crowdfunding project, just as you would with any other funding application. But the effort won’t stop there. Crowdfunding also requires ongoing work. Success means raising awareness of your campaign and updating existing supporters.

It’s also important to recognise that some Masters degrees may simply be less suitable for crowdfunding. You might see the interest (and value) in a niche academic subject area, but that doesn’t mean strangers will see the need to help pay for it.

Weighing up the pros and cons

Attempting to crowdfund Masters will be a big commitment whether or not you succeed.

If you’re going down this route, you’ll need to have the time and energy to set up and maintain a campaign. What’s more, you’ll probably need to do this whilst managing your Masters application – and perhaps also completing your undergraduate degree.

Should you make the attempt?

We’ve tried to balance the positive and negative aspects of crowdfunding as follows:

Ultimately, you'll need to decide whether crowdfunding is appropriate for your Masters and worth your time. The remainder of this guide will show you where to crowdfund a Masters degree - and suggest ways to do so successfully.

Most crowdfunding campaigns are hosted on specialist websites. You don’t have to use one of these, but they’ll make the process a lot easier to manage.

These website usually offer simple ways to keep track of funding goals, set incentives for backers and provide updates about your progress. They'll also make it easier to promote your crowdfunding campaign through popular social media platforms such as Facebook or Twitter.

Crowdfunding websites - things to bear in mind

Websites work in different ways, but you should pay particular attention to the following conditions:

• Minimum funding amounts – All platforms will ask you to set funding goals, but some will only pay money to you if you reach a minimum target. This ensures that funders only donate to successful projects and money isn’t ‘wasted’.
• Fees – Some platforms charge for using their services. This could involve an initial fee or (more likely) a small percentage of donations.
• Backer rewards – Crowdfunders often offer rewards to donors who pledge certain amounts, encouraging more people to back their campaign. Some platforms will require you to do this, others will make it optional.

You’ll need to weigh up these factors and select the option that works best for you. The following are some of the most popular crowdfunding websites.

Hubbub

Hubbub specialises in digital fundraising for educational projects and has partnerships with a range of universities.

As such it’s an ideal platform for Masters students looking to fund tuition fees or other costs.

Hubbub also provides platforms for universities to organise funding for their students’ projects. These won’t be suitable for crowdfunding your degree, but they could be ideal for covering extra costs during your Masters.

Gofundme

Gofundme offers solutions for a wide range of crowdfunding goals.

Gofundme also features a dedicated education section, including postgraduate funding campaigns.

Kickstarter

There’s a good chance you’ve heard of Kickstarter. This platform has already funded several high-profile projects, including independent films, videogames and other media.

As these success stories suggest, Kickstarter focusses on creative projects. This means you can’t set up a Kickstarter campaign for a postgraduate degree unless your Masters will produce a clear tangible outcome.

Kickstarter’s restrictions mean it won’t be the first choice for most postgraduate crowdfunding, but this platform could be appropriate to creative degrees such as an MFA (Master of Fine Arts).

Justgiving

Justgiving is probably best-known as a platform for charitable donations, but it can also be used for postgraduate crowdfunding.

Because Justgiving has a strong association with charitable causes you should make extra sure that the purpose of your crowdfunding project is clear to backers.

Crowdfunder

Crowdfunder is a UK-focussed website, supporting a wide range of projects. Its university section includes postgraduate funding campaigns.

Despite its name, Crowdfunder doesn’t just offer a crowdfunding solution.

It also provides a means for businesses, charities and other organisations to help boost successful projects through a process known as ‘extra funding’ (Crowdfunder takes a straightforward approach to naming things).

Indiegogo

Indiegogo helps raise support for entrepreneurial, creative and education projects with specific aims. This can include funding for postgraduate tuition fees.

Setting up your own crowdfunding platform

You’re unlikely to have the time, resources or expertise to build your own crowdfunding website. However, you could set up a blog describing your project and attempt to raise interest through social media and word of mouth.

This approach makes crowdfunding a Masters even more flexible. You’ll be able to set your own targets, decide whether or not to offer rewards and potentially avoid website fees.

On the other hand, building your own blog or website will take extra time and resources that might be better spent on your crowdfunding campaign.

It’s also possible that some backers may have more faith in campaigns hosted on familiar platforms.

Crowdfunding has a lot to recommend it. Anyone can try it, at any point, during any Masters degree. And any money you raise can – usually – be combined with any other funding.

But you shouldn’t get the impression that postgraduate crowdfunding is an ‘easy option’. You won’t simply be applying for funding. You’ll be campaigning for it. That takes sustained effort.

After all, the best way to encourage people to invest in your Masters is to invest in your own campaign. The following advice should help you do that effectively.

Crowdfunding isn’t for everyone, and certain types of degrees and students are more likely to attract support than others. Here’s what makes an ideal candidate:

• A compelling story: If you can make people care about your journey and why your Masters is important to you (and the world, ideally), then you’re onto a winner.
• A social or humanitarian cause: If your degree is going to help others – say, in medical research or social work – then people are more likely to chip in. After all, who doesn’t want to feel like they’re changing the world while also getting a warm and fuzzy feeling from their £10 donation?
• Innovation or entrepreneurship: Got a Masters that could result in a groundbreaking new app or the next big thing? Perfect. People love supporting innovation, as long as you’re not promising them the moon (again, we’re still waiting for the hoverboard).
• A good online presence: Crowdfunding is as much about promoting yourself as it is about asking for money. If you’re the type of person who’s already got a strong social media following, you’re one step ahead.

Find ways to stand out

There are plenty of other postgraduate students already looking for crowdfunding and this approach is only likely to become more popular in the future.

So, even though you won’t be competing directly for a scholarship or bursary, postgraduate crowdfunding is still competitive in a broader sense.

That’s why your project will benefit from a unique selling point (USP).

Why should people fund you? What makes your situation stand out? What’s the wider story behind your campaign?

The answers to these questions don’t have to be dramatic or detailed. It’s simply a case of finding something that people will find engaging:

• Are you the first person in your family to go on to postgraduate study?
• Are you travelling far for your Masters, or studying abroad?
• Are you ineligible for other funding such as postgraduate loans?
• Are you close to being able to pay for your Masters, but need a relatively small amount of support to get you ‘over the line’?

If you don’t think you have a particularly original USP, simply be honest. Explain why you want to take your studies to the next level and what it is you hope to achieve.

And don't forget: taking on Masters study is challenging and impressive, whatever your subject area and background. Find ways to explain this to potential backers and they may well agree.

While crowdfunding for education can seem like an attractive option, it shouldn’t be your first port of call. Sure, anyone can give it a go, but that doesn’t mean it’s the right fit for everyone. Crowdfunding is best suited for certain circumstances—like when you have a compelling personal story, a degree that has a broader social impact, or a specific innovation or entrepreneurial goal tied to your studies.

Don’t rush into setting up a campaign just because it’s available. It requires time, effort, and ongoing promotion to succeed, so make sure you're in a position where this level of commitment makes sense. Think of crowdfunding as a tool to complement other funding options, not as a quick fix. If you're still unsure, take a step back and consider whether it aligns with your specific goals and whether you're ready to put in the work to make it successful.