In strictly pragmatic terms, I can see this working. After all, my very practical parents did this to all of us, their kids: a dollar for an “A”, nothing for anything else. Also, it puts teeth into the old teacher saying, “When you’re a student, school *is* your job!”
But the concerns about students cheating and thus never developing a sense of learning for learning’s sake are valid concerns. However, those two problems are happening whether businesses like GradeFund exist or not; whether they would exacerbate those problems remains to be seen.
So, readers, what do you think? Good idea or bad idea?