How can crowdfunding help you cover your university costs?

Even before sending their children to study, parents in Bulgaria have spent between 5,000 and 20,000 leva on tutoring and preparing the young to apply to our or foreign universities. Only then (when the youngster is accepted to study) comes the cost of university, which has been rising sharply in recent years.

According to statistics, the annual cost of a student in Bulgaria is between 10,000 and 20,000 leva. For students who go abroad to study the costs are much higher - on average 50000 BGN.

In recent years, more and more parents have turned to donations and crowdfunding to get help in this endeavor. Collective fundraising for university allows parents in need to secure a good future for their children.

Take a look at our 6 steps,which you can take to raise funds for education.

Some facts about university tuition

Tuition is often one of the biggest expenses in a person's life. The cost of tuition has been rising in recent years. It seems that with each passing year it will also become more and more expensive.

• • The cost of going to university depends on whether the university is public or private. The average cost per year at a state university is 500-1000 BGN, and at a private university 1500-5000 BGN. These prices, of course, are without the monthly maintenance of the student.
  • It is interesting to note that a state university in America costs 10,000 dollars, and in a private one 25,000 dollars per year.
  • Study abroad students often take out student loans. This trend is coming to Bulgaria as well. The Wall Street Journal recently reported that American college graduates have an average student loan of $35,000.

The cost of university dormitories and housing

Many students have never lived on their own before, and the cost of a dorm room or apartment can be intimidating. Housing costs vary greatly depending on the city and neighborhood. Invariably, however, the cost of room and board is more than the semester fee. Many students move into the residence halls of the university where they will study. Often students stay in a dormitory for the rest of their studies. Renting accommodation is much more expensive, but it is also much more convenient. However, when you stay in a dormitory, students are together all the time and it is much more pleasant.

• • The average price per month in a hostel in Bulgaria is 40-80 BGN. For the same service in the USA the price is 600-800 dollars per month.
  • The average price for a one-bedroom apartment for rent in Sofia is 650 BGN per month.
  • The average monthly amount for food is about 300 BGN.

The cost of studying abroad

Studying abroad can be one of the most rewarding experiences for a student. Although the opportunity to immerse yourself in a new culture is invaluable, it comes with a price.

• • The cost of studying abroad varies widely between private schools and state schools. According to the Institute of International Education, the average cost of studying abroad for a year is around $20,000, but students can get away with much more (or less) depending on the country and program of study.
  • Monthly costs also depend on the exchange rate in your home country.
  • Another major factor is the cost of transportation - planes, buses, etc. Look for special student offers.

Textbooks and technology costs

Textbook publishers often quote shocking amounts for some textbooks. Students can find second-hand textbooks or re-sell them. But when calculating your monthly budget, don't count on saving much on textbooks.

All students should have a computer and a phone when studying. Some universities provide laptops for study purposes. Phones can be used as readers.

• • According to a study by The College Board, the cost of textbooks in America costs $1,200 per year and in this country it costs about $250.
  • The average price for a laptop in Bulgaria is around 1000 BGN, but students who use specialised software in their studies may have to pay up to 2500 BGN for a nice laptop.

Crowdfunding for your education

Sure, the cost of studying can be intimidating, but fundraising from a large group of people would solve the problem quickly and easily. Very often your friends and family would welcome the idea and help. Start your campaign on the PavelAndreev.ORG platform or check out the campaigns.