Calling all econ majors: the new website www.ultrinsic.com has begun to provide “course incentive” and “grade insurance” services to college students. That’s right: you can gamble that you will get good (or terrible) grades, and the company that runs the site, Ultrinsic Motivator, will pay you if you wagered correctly. For example, their 4.0 GPA incentive for freshmen will pay up to $2000 to a new student who correctly places $20 on the gamble that she will maintain a 4.0 GPA throughout college. Undergrads who sign up for their “grade insurance” resource could win money if they fail several classes. Does it count if those classes don’t end up on your transcript (yet another reason we love Brown…)?
What do you think? Is this just a smart business idea or is it taking advantage of poor college students?