Education might be the backbone of society, but that responsibility comes at a price. School leaders attempting to source funding know the cost of education better than anyone; teaching the youth of today is extortionate, to say the least.
One solution? Casting a wider net. For the savviest school leaders, sourcing international funding is a smart approach for widening that net and increasing the chance of success. Here’s how to set up international funding for your school — because it’s really not as difficult as it might sound.
Identify Appropriate International Funding Sources
Identifying international funding sources can feel daunting. Yet, the good news is that smart philanthropists are reinvesting in education right now. There is a widespread understanding of the global education crisis, and a subsequent movement to counteract this reduction in opportunity. In short, it’s about knowing where to go and who to ask.
Consider international grant programmes, like those offered by Global Partnership for Education (GPE), and government funding, such as the Turing Scheme. Foreign ministries, NGOs, scholarships, sponsorships, and private investors are other potential avenues to take.
Work With Expert Advisers
It is never wise to leave room for ambiguity when discussing legally sensitive topics: seek assistance from specialist education lawyers, and do so immediately. There are international laws and jargon to navigate.
Remaining compliant with foreign funding laws, anti-bribery standards, and even cross-border data protection is a task in itself. A legal review keeps educational spaces safe from undeserved repercussions — allowing school leaders to concentrate on their pupils.
Structure Compliant Funding Agreements & Governance
Specialist education lawyers uphold more than compliance. These professionals are responsible for drafting funding agreements and watertight contracts. This might entail grant paperwork, parental agreements, or Memorandums of Understanding.
These documents define the scope of funding, outline deliverables, and establish transparency (preventing any risk of misinterpretation or misconduct). For school leaders, this stage is all about building protective frameworks.
Register Accreditations and Standards Internationally
Which school is most eligible for funding, an accredited or non-accredited establishment? It’s not hard to guess the answer. By registering accreditations and standards internationally, it bolsters the school’s credibility and widens access to funding. For leaders building schools that will make positive impacts for generations to come, this step is absolutely momentous.
Prioritise this stage as soon as possible, and welcome inspection schemes that provide evidence of positive performance. Imagine this as your resume for potential international investors, be that individual sponsors or government bodies.
Setting up international funding might seem overwhelming, especially given the colossal overheads that schools create. As a school leader, there is the weight of the world sitting on your shoulders — the students, the staff, and the existing investors are all reliant on effective investor sourcing. Follow these steps, seek qualified legal assistance, and rise to the occasion.
Founder Dinis Guarda
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