Norwood Morialta High School student Pier Capobianco, 16, says he loves the extra motivation. Picture: Simon Cross Source: The Advertiser
A NEW website is putting financial pledges by family and friends at the heart of motivating high school and undergraduate students.
StudyBooster is an online platform that allows students to get sponsored for achieving their academic goals.
Students need to register and have a PayPal account before setting a goal, which needs to be connected to their education or extracurricular activities. They can then share it with family and friends on Facebook, Twitter or email, asking them to pledge funds.
The funds are held by StudyBooster until the goal is achieved, or not. The student's page provides an update on the amount pledged, the goal, plans for the pledged funds and messages of support.
Once the goal is achieved to the satisfaction of everyone involved, the money is transferred to a PayPal account held in the student's name.
Two per cent of funds raised are donated to the Save the Children charity and 6 per cent goes towards administrative charges of the website.
Parents and friends also have the option to set goals.
A screenshot of the student's page. Source: Supplied.
Norwood Morialta High School student Pier Capobianco, 16, said he would love to take up the challenge, which would push him to be an achiever, as well as bring in some monetary rewards.
"Hopefully an incentive program like this one would help me work even harder to do well in subjects I find more difficult, like maths," Pier said.
His mum Fern said she was all for setting children goals and thought the platform would give students a bit of a support system.
"But parents need to assess if it is right for your child," she said.
StudyBooster's Sydney-based co-founders, Jorden Minos, Dominic Bressan and Stefan Williams, said they based their idea partly on their own experience of wasting time as students due to lack of external motivation and partly on studies into the effectiveness of financial incentives for students.
"We know it works and can be effective. While the money is the motivation, there is also the excitement about setting goals, making them public and chasing them," Mr Minos said.
Go to www.studybooster.com for more details, including fees, terms and conditions.
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