In recent university crowdfunding news, The University of California system has launched its own crowdfunding platform to raise scholarship money. The purpose of this six week platform, called Promise for Education, is to aid students who are dealing with the higher cost of secondary education. This innovative approach to raise funds to support students has shown the influence that crowdfunding has on more traditional institutional fundraising.
On the university crowdfunding platform, students, alumni, and faculty, among others post personal promises to do simple to extraordinary things and set a monetary goal they wish to raise in exchange for doing what they promise to do. All donations raised on this platform go directly to scholarships or grants in the U of C system.
One of the main drivers of success for this platform is its engagement of young students and alumni. Social media based fundraising appeals to young people who are already connected to the digital world in innumerable ways have a much better shot at success. An added benefit of this platform is that students are under no obligation to raise money. They promise a service or event and appeal to the general public for support. No matter if an individual raises a great deal or only a little money every dollar raised goes directly towards funding future scholarships or grants.
Another reason for the early success of this platform is celebrity involvement which has brought mainstream media attention to the Promise for Education campaign. Jamie Foxx, for example, has pledged to write a rap impersonating other celebrities like Bill Clinton and President Obama. Another popular pledge made by celebrity is NBA player Matt Barnes offering Clippers tickets to the highest donor in his campaign. Involvement by household names is assisting both attention and money being donated towards this great cause.
In just a short time of being up and active, the Promise for Education platform has raised over $880,000 towards scholarships. Considering that this platform still has more than one month left this number will certainly continue to rise. It is sensational to see enthusiastic support behind Promise for Education as it will make a big difference in the lives of California college students.
We at Launcht applaud the efforts of the University of California system for using university crowdfunding for higher education as a means to aid students with the burgeoning cost of college. Platforms such as this show the versatility that crowdfunding offers to colleges and universities. To learn more about how Launcht has created white-label platforms for university crowdfunding, please click here.