For many years education has been the medium of exchange and passing of knowledge to generations. This has seen the sustenance of development and also the acquisition of important knowledge about various phenomena.
At the moment, having quality education is a guarantee of a better life due to its role in employment as well as handing over survival tidbits. Taking a close look at its role and impact, you can see the need for receiving a top-notch education.
The problem, however, is that getting it is not a simple task. It means spending a fortune and also putting in extra hard work. The hard work part is usually not an issue to many who have the determination. The fortune to acquire it is the problem more so to those that are disadvantaged. Many who would have fared on well in the field miss the opportunity due to lack of funds.
Educational Donations To The Rescue
In the face of the problem of educational funding to the deserving parties, educational donations step in to provide support to them. This is a commendable act of goodwill that sees those who do not have adequate financial support have another chance of proving their worth.
The donations come from donors who feel the need to support these students and maybe organizations such as companies, the government or even non-governmental organizations. Individual donors are also common in offering support in such situations.
The donations may come in the form of fees funding where the donor comes in to pay the full or partial tuition fee for a select student. Depending on the set terms, the donations may cover the fees for a set term or the whole educational period to its completion.
Others may come through to help out with other utilities that are of great importance such as attire, food or stationery. Regardless of what is brought to the table, all is appreciated as it paves the way for needy but potential students to get their right at a quality education.
The benefits of such grants are plenty and apart from helping the disadvantaged get their shot they also show appreciation to the educational sector a given region. The act of goodwill shows that many people out there have faith in education as the path to a better life and supporting development.
The grants also boost hard work among the students, especially where academic excellence is a requirement for one to receive the sponsorships. The ones who want in have to show that they are good at what they do to get in while the ones who already have the support work hard to retain it. Not only academic excellence is encouraged but also sports, and leadership qualities can earn one this essential financial backing.
The Transparency Factor In Educational Donations
As earlier seen, the donations are very important considering they allow the needy to thrive in the educational field. The point of emphasis is usually deserving. The deserving parties need to get the help they need as they have proved they are worth it. However, there are situations where the deserving parties miss out due to lack of transparency in the giving out of such sponsorships. This hurts the needy as their chances are sort of robbed from them.
As such transparency is a major factor that needs to be looked at when offering educational donations. This is true as apart from ensuring the right party gets help it also sees that integrity is a driving force in the sponsorship program. Many moves have come up to uphold transparency such as having a strict screening process and employing competent individuals.
One move that seems to be saving the day is the blockchain sponsorships concept. Let us have look at it.
Blockchain-Based Sponsorships In Upholding Transparency In Educational Donations
The blockchain sponsorship concept borrows from the cryptocurrency wave to bring about a secure and transparent donations program. With this program evident with Bitdegree, you sign up as a sponsor and pick a selected student through with the screening process.
You then deposit the funds you want into a smart contract in crypto units. The contract binds you, your funds and the sponsored student. Once the sponsored student is done with their studies and provides a certificate of proof, the funds will be released to the student.
When you look at the transparency factor, you can appreciate this mode as it ensures the results are provided before the release of funds. The screening process also makes sure only the deserving get the chance at the sponsorships.
Education is very important at this age more so when focusing on the development aspect. The downside, however, is the lack of funds which is a requirement for quality education. The solution lies in educational donations and sponsorships which provide help to the deserving parties.
Transparency being a factor to be upheld, blockchain-based sponsorship steps in to see that it is constant. Bitdegree has this program and sees that the funds are secure.