Efforts to support education exist across Earth. Schools, books, computers, teachers, etc, cost large sums of money. The growth of tuition prices has outrun that of other 'essential' goods and services.
Scholarships are a long-standing mechanism of financial aid to students. Technology controls the evolution of classrooms and we want it to influence how scholarships work. Our crowdfunding platform for scholarships -- Devocracy -- was created to fill this purpose.
Peer-to-peer financing is beneficial to both parties, it's more personal, transparent and tangible. Crowdfunding is innovating capital transfer across the world. Once Canada adopts progressive legislation favouring crowdfunding and equity rewards Devocracy will thrive. It could grant students the freedom to pledge part of their future earnings in exchange for funds to pay tuition now. Forming a relationship this way is more compelling than an essay, or social contests which form the basis for scholarships now.
Devocracy can be a community hub for students, schools and graduates who want a modern, connected way to donate or give back to support education.
At worst it will streamline the application process and service existing scholarship providers by reducing overhead and administration.
At best the technology behind Devocracy can fund millions of scholarships and be viewed as a premier portal for seeding and obtaining scholarships.
Spend a few hours writing a blog post or creating a video to prove why you deserve a stranger on the internet to give you money. This is a small investment with limited downside and huge reward potential given velocity of money on crowdfunding platforms.
Review the chart above and note price range is going to be important. Where you set the bar in dollar terms will impact your likelihood of getting funded. Choosing the right support level will be critical, how to do this?
Budget your education needs and be realistic. No one will donate to a careless or arrogant student taking a cheap online course. Be diligent and humble your expectations and illustrate your knowledge and resources.
People are more likely to give you money if they feel they can trust you. Are you going to be responsible with these funds?