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Written by James Tippett
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).
There are so many ways to find funding for your Masters. Ruth share some additional money tips for helping finance postgraduate study.
It should be obvious by now that crowdfunding is quite different to other forms of postgraduate funding.
This has advantages and disadvantages.
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.
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.
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:
Postgraduate crowdfunding: the pros and cons | |
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Pros | Cons |
No eligibility criteria - anyone can set up a campaign. | Requires you to make a case for your own project. |
No deadlines - start crowdfunding whenever you want. | Running a campaign requires ongoing time and effort. |
Flexible funding - set your own target, according to your needs. | Success is not guaranteed and some projects won't attract funding. |
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.
Websites work in different ways, but you should pay particular attention to the following conditions:
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 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.
Masters funding on Hubbub | |
---|---|
Minimum targets? | Yes |
Rewards? | Yes |
Fees? | Transaction fee of 2.4% + 20p for every donation to a successful project |
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 offers solutions for a wide range of crowdfunding goals.
Masters funding on Gofundme | |
---|---|
Minimum targets? | No |
Rewards? | Yes |
Fees? | Transaction fee of 2.9% + 25p |
Gofundme also features a dedicated education section, including postgraduate funding campaigns.
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.
Masters funding on Kickstarter | |
---|---|
Minimum targets? | Yes |
Rewards? | Yes |
Fees? | 5% of final total and 3% + 20p for processing pledges |
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 is probably best-known as a platform for charitable donations, but it can also be used for postgraduate crowdfunding.
Masters funding on Justgiving | |
---|---|
Minimum targets? | Yes, but all fund released |
Rewards? | No |
Fees? | 2.9% + 25p payment processing fee |
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 is a UK-focussed website, supporting a wide range of projects. Its university section includes postgraduate funding campaigns.
Masters funding on Crowdfunder | |
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Minimum targets? | Optional |
Rewards? | Recommended, but not compulsory |
Fees? | Transaction fees of 1.67% + 25p + VAT |
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 helps raise support for entrepreneurial, creative and education projects with specific aims. This can include funding for postgraduate tuition fees.
Masters funding on Indiegogo | |
---|---|
Minimum targets? | Optional |
Rewards? | Yes |
Fees? | 5% plus additional payment processing fees |
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:
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:
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.
This may seem obvious, but it’s too vital to overlook. Crowdfunding takes time: time to plan, time to set up and time to run your campaign.
You may also have other commitments to manage – such as the final year of your undergraduate degree, or perhaps even the first part of your Masters.
Whatever your situation, make sure to assess the time required for your crowdfunding campaign in advance and start early enough to see it through. You should also think about setting aside time for updates and promotion once your project is underway (see below).
Remember: it doesn’t matter how fundable you or your project are if your campaign isn’t well put together.
Momentum is crucial to crowdfunding.
You’re looking for lots of smaller donations, not a small number of big pledges. That means you’ll need a steady stream of backers to make progress towards your goal.
It’s unlikely that anyone is going to help pay your tuition fees just to get a photo of your campus or a copy of your dissertation (that would be a very different postgraduate funding model!). But they will appreciate the recognition and gratitude this demonstrates.
And, if you can think of more dramatic or exciting rewards related to your course or subject, go for it.
Masters degrees in subjects like Creative Arts and Design have a natural advantage here, but other disciplines can still benefit from thinking outside the box.
Not sure if your degree is 'crowdfundable', how to go about setting up a campaign for it, or what kind of updates and rewards to offer? Learn from others.
Look for examples of previous postgraduate crowdfunding campaigns on the platforms we’ve suggested. What do the successful projects do well? What do the less successful projects do poorly?
There’s also no harm in (politely) contacting other crowdfunders and asking for advice. Would they recommend the platform they used? How much time did it take them to set up their campaign? Do they have any simple tips we haven’t covered here?
Unlike some other scholarships, crowdfunding isn’t really a competition: other students will probably be happy to share their guidance.
The world of crowdfunding is broad and varied. People seek support for a wide range of projects, from commercial start-ups and creative products to charitable causes, personal appeals and, of course, educational appeals.
Always make sure it’s obvious what you’re fundraising for. And don’t risk misleading people into thinking they’re funding something they aren’t:
You should also be sure you read the terms and conditions for crowdfunding platforms carefully. They may not be very exciting, but failing to follow them could put a successful campaign at risk further down the line.
Be honest with yourself, as well as your backers: remember the limits of crowdfunding as well as its potential.
Paying for postgraduate study isn’t as simple as setting up an internet campaign and watching the donations pour in. (If it was, we wouldn’t need to have so many other guides in our funding section).
People have successfully crowdfunded a Masters before, but this solution won’t work for everyone. Even if you follow all of the advice on this page, it still might not work for you.
That’s why it’s good to see crowdfunding as one part of a wider postgraduate funding portfolio. If it works for you, great. If not, have some other options in mind.
Crowdfunding is an innovative and exciting way to approach a Masters, but it isn't for everyone. Fortunately, our guides cover a range of more 'conventional' postgraduate funding options, including government loans.
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.
Be realistic here. Crowdfunding isn’t a "get rich quick" scheme – unless your idea is really good (see: Elon Musk levels of good). Figure out how much you realistically need, but don’t set your target so high that it feels like you’re asking for a small fortune. Remember, small contributions from many people add up.
It’s totally up to you! Some crowdfunding platforms offer the chance to give backers a little something in return for their donations. A thank-you note, a shout-out on social media, or if you’re feeling fancy, a VIP invite to your graduation ceremony (if you’re willing to let them crash your big day). If your Masters has a creative or entrepreneurial angle, you could even offer something more exciting like a sneak peek at your work or a behind-the-scenes look at your studies.
Unless your crowdfunding campaign goes viral (you never know), it’s unlikely to cover all your costs. But that’s okay – crowdfunding can be an excellent way to top up existing funding, cover smaller costs, or just ease the financial burden a bit. Think of it as the cherry on top of your funding sundae.
The average cost of a UK Masters degree is £8,740, but fees vary by course and university, with some programmes costing more than others.
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