Getting Paid for Good Grades

NEW YORK, Nov. 19 /PRNewswire-USNewswire/ -- GradeFund, an easy-to-use web application for students to enlist friends and family to support their academic drive, was announced today with the goal of revolutionizing education finance. Much like charity sponsorship pledges, students have the ability to sign up sponsors to pledge a certain dollar amount per grade.

"Understandably kids get disheartened when contemplating the rising costs of education," said Michael Kopko, CEO of GradeFund. "The debt load of the average graduating student is nearly $20,000 and growing every year. However, where many people saw a problem, we saw an opportunity."

On GradeFund.com, students sign up, create their profile, and invite sponsors. Sponsors simply click a secure link in the email request, enter their credit card information, and choose how much to sponsor. When students upload their transcripts to the web site, the GradeFund automatically transfers funds for qualifying grades from sponsor to student.

Upon being invited by a particular student, sponsors can support the academic achievement of a sponsored student for a minimum donation of $5 per "A." Sponsors can choose whether money goes to the student directly or to their school tuition office.

Academics exposed to the idea are very intrigued by the initiative and its potential to drive success in the classroom. "Parents routinely reward their children for good grades because they understand that students often need a tangible link to the higher earnings that a good education brings," said Jonah Rockoff, Associate Professor of Finance and Economics, Columbia Business School. "Formal structures such as GradeFund can provide powerful tools to raise student achievement."

In addition, GradeFund provides tools for those who want to customize their sponsorship beyond the student-community network in a way that is meaningful to them. Individuals can sponsor grades at their alma mater or in their major. Philanthropic organizations and corporations can support particular fields of concentration or geographic locations important to their cause or industry.

Students are also excited to start using the service. "After having a difficult time with getting scholarship money and student loans, I will finally be able to earn my way through school by getting compensated for my hard-earned grades," said Samantha Antonietti, a freshman at Sacred Heart University.

The GradeFund is rapidly adding new features to its site, including a job marketplace where employers can search for talent that fits their needs, a point-system for younger students, and other benefits. "The GradeFund is part of our wider goal to inject creativity and solve some really important problems in the education space," said Matthew Kopko, CTO of GradeFund. "Creativity and community action can solve these problems. We appreciate all support of our mission to promote scholastic achievement."

About GradeFund:

Founded by two brothers, Michael and Matthew Kopko, GradeFund is a community-based approach to student education financing that encourages academic success. GradeFund has also been designed to help students find jobs and internships easier as they plan for life after school. For more information please visit www.gradefund.com.

SOURCE GradeFund

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