Tuesday, February 3, 2009

You're looking at Colleges, now how are you going to pay for it?

Did your parents ever tell you that it pays to have good grades? Have you told that to your own children the same thing? In this case it does. How, you ask?

Take a look at GradeFund, which was developed by two brothers from Harvard and Princeton, which actually pays students for the good grades they get.

Michael and Matthew Kopko have really taken helping students pay for college to a new level and with this site they have launched it can make that dream happen for so many students out there that are struggling with wanting to go to college but may not know how they are going to pay for it.

How does it work?

Well the first thing is that the site is doing is matching up students, who have determined their own achievement level in a specific class, with sponsors that have determined what level of contribution for a certain grade. The sponsors of the students watch the grades that the students upload onto the site and award them with the amount per grade.

The student will create an account and determine themselves what their goals are for each subject, let's say an "A" in Math. Their sponsor, which could be a relative, a friend, a company or a complete stranger, verifies the grades made against the students transcript and then will either pay the student directly or the amount will go to the University for the student.

This site also offers additional help and support for students to help them with finding jobs and with internships that can also help pay for their higher education.

What is the appeal for Sponsors in this site, I think that it is a way to not only get family and friends involved in student achievement it is also a chance for corporations to get involved in academics. We see it in the news everyday about companies giving money for scholarships to universities, colleges and tech schools. That money then goes into a fund that is then spread out across all eligible students. Would it not be better for a company to award money for specific academic goals. A Bio-tech company, Law Firm, Bank, Hospital, etc. could sponsor students who were in a specific career path in school as a way to recruit new employees.

Take a look for yourself and read all about the GradeFund site and make up your own mind.

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