Cash reward is good but it shouldn't be prioritize for academic brilliance

I imagined a scenario whereby students are given cash rewards for their academic performance and every child is studying just for the money, but what happens if money is no longer involved?

Cash rewards have long been used to give one a heads-up and encourage academic brilliance. Cash rewards do have certain benefits. Some come in the form of scholarships to sponsor students who are less privileged but are performing excellently well in their academics.

Cash rewards provide motivation for students to work hard and achieve academic success. The idea of a monetary prize could encourage students to spend more time studying, complete extra assignments, or challenge themselves with advanced courses. For students from lower-income backgrounds, cash rewards may help reduce financial pressures and allow them to focus more on their education.

On the other side, there are also concerns about overreliance on cash rewards. Money can gradually displace genuine motivations to learn for learning's sake. When the cash reward is removed, students may lose interest, and their performance may drop. Cash rewards could also narrow a student's focus only to prize-winning accomplishments rather than a broad exploration of knowledge. There is a risk we are taking here; students may prioritize grades and scores over the cash reward, neglecting their main focus, which should be their academics.

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Also, focusing too much on cash rewards as the goal of education could build unhealthy competitiveness between students. It may promote a "win-at-all-costs" mentality and discourage working together to achieve academic excellence. Cash rewards could also favor some students over others; that is, they will favor those who are well off, leaving the struggling ones down afterward. Sometimes, it might make them lose confidence and their self-respect. Not all forms of brilliance can be easily quantified; other areas, such as creativity, will be overlooked.

In my perspective, I believe that when cash rewards are implemented carefully and other areas of learning are also considered, this will boost the motivation students need for their learning. If this is considered, cash rewards can be used as a means of appreciation without being the central focus. Rewards work best when they supplement rather than substitute for more meaningful feedback.

I believe that while cash rewards may provide short-term benefits, overreliance on them as the main source of reward for academic success may pose risks to the students lives. It may lead to hatred among the students because the one or ones always taking the cash reward will surely be the talk of the class, leading to unhealthy competition.

A balanced approach to cash rewards and other forms of reward will help build a healthy relationship between the students and also help each student build their self-confidence, not based on the reward but on their capabilities. Cash rewards have a place, but they must avoid becoming the defining goal of education and the sole measure of excellence, as this might not turn out well in the long run.

Thanks for your time, and your comments will be appreciated.

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