I must start this post by stating that I have been not been contacted or compensated in ANY WAY by Grade Fund. This is a website I came across the other day that seemed interesting to me. Since I like the idea, I decided to give them a bit of attention and see what others like yourself have to say about this.
GradeFund-“A New Way to Help Pay For School”:
Remember when your parents were constantly on your back to do your homework? OK, I barely remember it either. Some parents, (mine excluded) were generous enough to compensate their kids for good grades. I did occasionally get a few bucks slipped my way for exceptional grades, but the A’s and B’s came so few and far between that I’m not sure I would even remember if it did happen regularly when I was in school.
GradeFund has taken this idea and added corporate and private sponsorship, to help struggling students get some extra cash based on academic achievement. A novel idea, but exactly how does it work? Well, here is “what we do in 100 words” taken directly from their site:
Students invite their friends and family to sponsor their drive for good grades. Sponsors choose grade levels and sponsorship amounts for each grade (as low as $5). Each semester students upload their transcript. We verify grades, collect money from sponsors, and send it to schools or students depending on sponsor preferences. For individuals or companies that want to create an educational cause, they select the classes and grade levels at the universities they want to sponsor. We send the money to the eligible students who achieve the target performance levels.
So, students ask Mom, Dad, Aunt Ruthie, and the like to pledge compensation based on grades. GradeFund verifies the students’ grades and collects the funds from the pledges. The funds are then allocated to either the School or the Student (whichever the sponsor chose).
In addition to the cash, students may also enjoy a huge benefit-Employer interest!
Sponsors looking for students with specific talents have the ability to seek outstanding achievers by grades, giving them the “inside edge” on recruitment after school is completed. Now, for this “benefit”, I can not find specific language as to how much the sponsors are privy to, but I imagine that it does not expose the student too much.
What is Your Take?
Do you (or anyone you know) have any experiences with GradeFund? If so, how has it affected you/them? I would love to hear some positive experiences here so I can convince the Mrs. to sign up…maybe we could get a bit of extra cash for her time-consuming endeavors (school and work)