University education can be an exciting and expensive process, especially for someone who wants to study abroad. For international students who want to study in Turkey, the opportunities are plentiful, but the financial burden cannot be ignored. Fortunately, crowdfunding is now a powerful tool to ease this burden a little. If you are struggling to cover the costs of accommodation, transportation and tuition fees required to study in Turkey, you should definitely discover this system, which is a beacon of hope for hundreds of like-minded students.
What is Crowdfunding? What is the Legal Situation in Turkey?
Definition and Basic Types of Crowdfunding
Crowdfunding is a way of achieving big goals by collecting small donations from a large audience. It is used in many areas such as education, arts, technology, but lately it has been making a real difference, especially for individual students. There are four main types: donation-based, reward-based, debt-based and investment-based. The most commonly used donation-based crowdfunding for education works through unconditional support.
The Legal Framework of Crowdfunding in Turkey
Crowdfunding in Turkey was put on an official footing with a legal regulation in 2017. The Capital Markets Board (CMB) assumed the supervisory authority in this field with the communiqué published in 2019. This paved the way for start-ups to meet their capital needs by collecting investments from the public. It is aimed to support companies with innovative business models, especially those focused on technology and production.
In this context, donation-based campaigns for individual financial needs such as education are considered separate from investment-type crowdfunding. This means that students like you can run individual fundraising campaigns on a more flexible basis. For more technical information, you can check Wikipedia article “Crowdfunding in Turkey”.
What Expenses International Students Face in Turkey?
Average Living and Education Expenses
The monthly cost of living for a student studying in a big city like Istanbul or Ankara is approximately $400 – $1000. This includes dormitory fees, food, transportation and personal needs. As for the cost of education, while tuition fees are quite low at public universities, at foundation universities they can be in the range of $3,000 – $20,000 per year. These figures may increase even more according to some universities.
“These figures are calculated based on a dollar exchange rate of 38 TL by 2025.”
This is why free crowdfunding opportunities for education in Turkey are becoming increasingly important. With these campaigns, students can cover not only tuition fees, but also ancillary expenses such as books, computers and even health insurance.
How Many Percentage Shares Do Crowdfunders Get?
Many students ignore the fees charged by platforms when launching their campaigns. But this is important. GoFundMe, for example, charges a 2.9% transaction fee and a flat fee on each donation. Crowdfunder charges 2.4% + 20p + VAT. So if your goal is $1,000, the amount to be paid to the platform will be around $30-$40 on average. You should therefore take such deductions into account when setting your funding target.
Some students use the content of The Financial Literacy Guide for Students in Turkey to learn about such rates in advance and run more strategic campaigns.
Which Crowdfunding Platforms Are Suitable for Students?
International Platforms – GoFundMe and Indiegogo
If you have the opportunity to create your campaign in English, international platforms like GoFundMe can help you reach a wide network of donors. Emotional and personal stories are particularly appealing to donors.
Local Options Available in Turkey
Turkey-based platforms such as Fongogo, Bursverenler and Fonzip offer advantages in terms of connecting with local supporters. Easy integration with local banks and the ability to offer content in Turkish can make these platforms stand out compared to international platforms. Some platforms also offer special low transaction fees for students.
What to Consider When Choosing a Platform?
Each platform has a different service, payment processing time, and donor transparency policy. If you are going to run a campaign focused on education, you should especially look at the platform’s approach to education projects. Some platforms only support commercial projects. Therefore, an approach such as “every crowdfunding platform is suitable for education” may be erroneous.
How to Create a Successful Crowdfunding Campaign
Crowdfunding is not just about sharing a link; it requires strategy, emotion and trust. In order to start a successful campaign, you first need to clearly define your goal. Instead of just saying “help,” you should clearly articulate why you want to study, what you want to do in the future, and what this campaign means to you.
Creating Compelling Stories and Emotional Bonding
A well-written story is more than half of a campaign. Focusing on a social good, such as “My dream is to study architecture in Turkey because there is no proper construction in the city where I live,” helps the donor connect with you emotionally. Supporting your story with images, video messages, or even a testimonial from a friend builds trust.
Use Social Media and Network Actively
Remember, a crowdfunding campaign is a social campaign. Your friends, your teachers, people you don’t know but who can support you… They all play a role in the success of the campaign. Posting frequently on platforms such as Instagram, TikTok or LinkedIn and storytelling posts makes your campaign visible.
Goal and Time-Setting Strategy
Most platforms recommend a campaign period of 30-60 days. Most of the donations will come in the first 10 and last 5 days. You should set your goal neither too small nor so big that it seems impossible to reach. Let’s say you have a goal of $2,500; it is an advantage in terms of transparency to explain why this is so, item by item.
Possibilities to Benefit from Multiple Scholarships in Turkey
Some students ask if they can get a scholarship and do crowdfunding at the same time. Yes, it is possible with the right planning. However, you should pay attention to topics such as Possibilities of Benefiting from Multiple Scholarships in Turkey. Some scholarship programs may consider another source of income as an “obstacle”. Therefore, you should read the terms of both the scholarship and the campaign well.
Now It’s Your Turn
If you want to study in Turkey but are financially strapped, crowdfunding is no longer just a dream. With the right story, a good strategy and a plan that inspires confidence, you too can launch your campaign.
There is an audience behind your dream. Now is the time to take that step.