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How Crowdfunding Is Tackling Student Debt in Britain

Dealing with debt is daunting at any time, but for today’s graduates starting in a career can mean already struggling with thousands of pounds worth of debt. Crowdfunding is the latest way in which to raise funds and may help in mitigating the student debt crisis. No one debt management solution will suit every situtation, all you need it gather the info you need at ConsolidatedCredit.co.uk. Here are some of the ways :
student debt 1. Management of student debt
There is no denying that students embarking upon further education courses are increasing their specialist knowledge and opening up opportunities when it comes to career progression. However, with recent increases in university course fees and rising living costs, it may come as no surprise that many graduates are now leaving college with substantial levels of debt. And that’s where crowdfunding may be able to help. 2. Alternative to student loans
Crowdfunding is essentially a funding mechanism in which a group of individuals come together and pool their money in support of specified people or projects. Already popular as a way of raising money for business start-ups or to support disaster relief, crowdfunding can also be used to help students with tuition fees and living expenses. 3. Flexible funding source
Crowdfunding can be used in support of any project that requires financial backing. This works perfectly for those hoping to fund places in higher education. 4. Post-graduate debt management
Crowdfunding can be used to reduce student debt when a course has been completed and the graduate wishes to move forward along their chosen career path, but would be struggling with living costs and the repayment of student loans. 5. Distributed contribution
Many people are concerned as to who might be prepared to contribute to course fees or clearing student debt, but the truth is that people are extremely receptive to supporting individuals with real stories to tell. It is far simpler to encourage a few people to give  10 each rather than asking one person to give  100. 6. Range of contributors
Contributors come in a variety of forms, from immediate family and friends through to those from the local community or with an interest in the area of study being funded. 7. Socially sourced contribution
With the help of social networks and the internet, funding can quite literally come from around the globe. 8. Minimising commercial debt burden
Crowdfunding can help to tackle student debts by removing the pressures of funding course fees or having to pay for accommodation through student loans, credit cards and overdraft facilities. 9. Social conscience and responsibility
Contributors are not only helping to make someone’s dreams and ambitions come to fruition, they are also helping shape the future generation of workers. People have the chance to invest in those within their own community, or to support projects that will benefit both the local area and the country by funding the education of others.
10. Economic stability
Having a generation of graduates who are not starting their working lives with weighty debts on their shoulders can only serve to boost the struggling economy and support greater future stability.
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