EduFund by Cybatar

Crowd funded scholarships.

PROBLEM

There is a serious shortage in tertiary education funding, university students are constantly involved in strikes every year over NSFAS and some have difficulty paying back the money they owe government and loan institutions after completing their studies.

The level of competition and field limitation in corporate bursary schemes leaves most students from disadvantaged backgrounds reliant on the government funds which can’t fully support the student whilst in tertiary.

OUR SOLUTION

A social crowdfunding platform for students who cannot fully afford higher education and other costs at their desired university or college and students who are in tuition debt.

EduFund enables the donor to identify students in need and make a contribution in order to help and empower the students.

HOW DID WE GET HERE?

The financing solution was developed as a result of an observation we made, of students from working middle class families who couldn’t qualify for government funding and bursaries but couldn’t also afford tertiary expenses.

HOW CURRENT SYSTEM WORKS

Start-up Pitch/Proposal Potential Financier

Consideration Negotiation Partnership

PROBLEMS IN CURRENT SYSTEM

TOO COMPETITIVE. Too many students rely on the same fund. PROGRAMME SPECIFIC. There are other courses that

are not covered by bursaries at all, students in these disciplines can only rely on loans and government grants.

DO NOT COVER ALL COSTS. Most available funds only cover tuition and sometimes accommodation. The net amount received is sometimes not enough for students.

HOW DOES EDUFUND WORKS?

• MAKE A DONATION

View our student list and donate an amount. You can share the candidates profile to give them a further boost in achieving their goal. A little donation from your end could go a long way in helping someone for life.

• AID THE STUDENT

You as a donor choose the applicant you would like to sponsor. The student utilizes the loan for paying his/her academic fees and to cover basic necessities during the course.

• STUDENT PAYS IT FORWARD

A student who has been successfully sponsored gets inducted into a pay-it-forward process wherein once the student graduates and begins to earn, he/she is encouraged to sponsor another student.

HOW WILL THE DONOR BE PAID BACK?

The donor is not paid back. EduFund works on the principle of 'Pay it Forward Loans'. When a donor makes a contribution towards a student in need, he/she will automatically oblige the student in question to make a contribution in the future to fund and help another student in need. It's all about ensuring a better future delivered by the promising students on roll.

HOW MUCH SHOULD I DONATE?

When you have browsed through our list of students in need of funding, you can pick any one and donate any amount you prefer. Reasonable amounts are recommended. On every student's page you can view the funding required and how much the student has already been funded. You will receive a letter of gratitude from the student and EduFund for your contribution.