If a tough job market isn’t enough incentive, college kids can now bet money on their grades through Ultrinsic, launched by some recent college grads.
You bet more for higher grades, less for easier ones — and if you get the grade, you keep your money, plus a reward. If you don’t, Ultrinsic keeps it.
If you’re a freshman, you can earn cash rewards of up to $2,000 for a 4.0 GPA. You can also buy insurance for a grade in a class, and get cash if you get a bad grade.
According to a Washington Post blog post:
There are lots of questions about the Web site, according the The Philadelphia Inquirer. Some students worry about handing over their transcripts. Officials are unsure if the site could be considered online gambling. And some who work in higher education are wary.
“This is not what real education is about,” Barmak Nassirian of the American Association of Registrars and Admissions Officers, told The Inquirer. “They have come up with a shtick.”
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