Until this morning, I had not heard of “Crowdfunding”. It’s not even a real word, but a combination of two real words. So what is “Crowdfunding”? Well, you can pay your college tuition with “Crowdfunding” .
Essentially, you go to one of these sites Pave, GoFundMe, Upstart, ZeroBound, Indiegogo, and Kiva, then you appeal directly to many for help in paying your tuition. It’s similar to the old idea of passing the hat. The Internet has inspired entrepreneurs to make it easy for donation seekers to make their case, set a financial goal, and work their way toward it by a deadline.
Are they free? Well, some offer all-or-nothing deals, wherein the donation seekers do not get any money if they fall short of their fundraising goal. Other sites, allow you to keep what you get. However, the majority take a fee.