Crowdfunding Models for Higher Education in Africa
11 May 2018
The cost of higher education tends to rise at rates considerably high. This resulted in a spate of university protests that saw students demand free education in South Africa.
Students argue that, with a large number of students entering universities, financial need should not be an obstacle to students who qualify to enter university at a suitable academic standard. But it is critical to recognise that the government cannot fund education on its own.
Higher education funding models have moved towards cost-sharing, which involves the collective contribution of students, parents or guardians, government and other stakeholders.
There are various models that can be used to fund higher education which includes amongst others setting up student loan systems, bursaries, scholarships- and there is crowdfunding.
Crowdfunding is the practice of funding a project or venture by raising small amounts of money from a large number of people, typically via the Internet. This model is gradually gaining traction in funding education across Africa. Read the full article on ITNews Africa here.