New site pays students for grades

Two recent Ivy League graduates have started a Web site that allows companies and individuals to sponsor students' grades. Current college students can set up a profile and encourage friends, families, or interested strangers to donate so much money for their A and B grades.

The first corporate sponsor of Gradefund.com is Zootoo, an online pet community. Zootoo pledged $15 to any student who receives an A in a veterinary studies course. To qualify for Zootoo's cash, students must upload an official transcript for Gradefund.com. For private donors, no proof is needed.

At press time, 10,656 students, sponsors, and private donors had signed up at the site. It may be slow going in these first months, however. The site just opened in November 2008, and featured students Lauren McElroy and Priscilla Wilson have earned $2.30 and $2.20, respectively.