It's Back-to-School Season. And For Those college kids think Ken They can get an A. That is a biology course or Maintain a 3.7 GPA Throughout Their junior year, a new website on May Provida a little bit of an incentive.
Ultrinsic.com allows students from 36 college campuses across the U.S. Thurs Wager is how well they'll do During the upcoming semester. And the site will pay you money for Achieving or exceeding a Certain grade.
"We're going to help students get better Grades and Succeed in school," says Jeremy Gelbart, the site's Co-Founder. "This will make the days to do school experience more enjoyable, this idea of the Giving students control over Their own Their own goals and Rewards."
The site is billed as "the ultimate destination for students to play, study and win." Here's how it works: A student was random to the website, creates a free account, uploads Their history course and enters Their GPA. He or she then uploads Their current schedule, and based on That schedule, They Can create Various types of incentives - like, say, an A was a Certain course or a Wager is Their Overall GPA - That if Achieved, can result in cash.
Gelbart, 23, the website's president, explains it this way: "So, let's say I'ma B student-taking Math 101 I'm shooting for an A, so I choose my target grade, I choose the total cash incentive I want, and then Ultrinsic will calculate how much the student contributes to the incentive and how much will Ultrinsic Contribute. "
Students Can Also Potential hedge against failure by buying "grade insurance" wakes up allows the user to pay a premium in order to get coverage in case They Do not Meet Their Targeted incentive.
Ultrinsic calculates how much They Will students pay based on a formula that takes into account Their academic history, data analysis, and whatever info the site's Researchers can get Their hands are. If a student reaches Their Targeted grade, Ultrinsic Them will pay based on the amount it calculated. If not, the student must pay up.
Of course, the site has come Not without Controversy. Critics say Ultrinsic May encourage students Thurs gamble And that is it has overtones of online gambling.
Gelbart insists the company's goal Is to help students Improve Their Grades, and says at his site differs Ultrinsic Because online gambling involves skill and winning is "Completely within the control of the student."
Gelbart Came up with the idea for Ultrinsic about three years ago with at his longtime friend Steven Wolf, 27, while They were Attending the University of Pennsylvania.
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