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Crowd funding: Raising funds for education in India

Crowd funding, education, education in india, mental development, $5-trillion economy, india

By Chet Jainn

Human evolution is as much a result of mental development through education as it is about physical changes. Education and knowledge, in fact, are the top transferable yet non-depleting and non-depreciating assets humans can have.

India has a long way to go to realise its goal of becoming a $5-trillion economy, but education surely will be one of the driving forces to get there. The Constitution provides Right to Education to children from ages 6 through 14 years, but this right alone is not enough to help those without means to further their dreams of education. Education is a prerequisite for success, but remains a luxury for many.

Here, generating funds for education through crowdfunding via reputed and reliable platforms can be a solution. Crowdfunding is already playing a crucial part in the overall funding system. It has become the most effective way of raising funds for needs or for special purposes. It provides a platform where one can raise money online with financial help from supporters, donors and well-wishers.

Crowdfunding for education can help individuals raise funds for multiple kinds of educational needs. There are many people in the world who believe in giving back to the society, and who want to share what they own, but do not clearly know how to start. Crowdfunding can give such people a reliable platform through which they can serve the purposes close to their hearts.

Students in India, who often put their education on hold due to lack of money or resources, can resort to educational crowdfunding to pursue their dreams. The advantage in raising money from a crowdfunding platform is that students, mostly, do not have any payback liability.

In the recent past, we have also seen teachers and administrators turning to crowdfunding to save/help their institutions for providing basic infrastructure such as desks, chairs, books, computers, essential teaching aids, etc.

Education is not a privilege to be enjoyed by a few, and crowdfunding can ensure that those dreaming of quality education are able to achieve it, irrespective of their socio-economic status.

(The author is founder & CEO, Crowdera, a free crowdfunding platform. Views are personal)