Incentivizing Exceptional Students with Monetary Rewards

Education is a very powerful tool which not only can be used to better the life of people but also the world we live in. By studying, people were able to learn new things and gain new skills which can help them to find better careers and achieved a more comfortable life while it also helps the country as they can have people that can provide manpower on different industries and perhaps even the next generation of leaders. That was why even when sending children to school cost a lot of work, money and time, families, even when they struggle financially, still tries to send their children to study in the hopes that their child will be able to have a brighter future specially for those that excel within their studies. So if education was important, would it be just the right thing to give monetary incentives for those that excel within their studies? My answer for this is yes which I will elaborate in this post.

People works better with motivation and giving monetary rewards on students that excels within their studies is a great way of motivating them given that all the effort and dedication that the students have to be the best on their class are being recognized and rewarded which will encourage them to keep up their work. At the same time, the money that the students receive can be used to provide them with better study tools or pay for their school cost. On the other hand, knowing that there will be monetary reward for being at the top of the class might encourage other students to improve their studies, specially for those students that seams capable and hardworking but was hindered by financial barriers, resulting for them to sometimes skip class or completely drop from school which is most common on public schools and was something that I saw quite a few times when I was still studying.

Having monetary rewards on excellent students might also affect the learning institutions positively. While not being the recipient of the money, the school and teachers can still benefit from it because it they can produce more top students, they would gain the prestige of being able to provide quality education for their students and have the trust of the community, particularly for the private schools which might result for more parents to enroll their children to that school as they think of it to be the best place for them to learn and probably the reason why many private schools give scholarships to public school students. But even public schools might receive more funding and better facility from the government if they can produce bright students.

^{Original Image Source: Max Pischer- Pexels}

Education is important in unlocking people's skill and capabilities and can help people to grow to be a great asset for a country and by incentivizing exceptional students with them monetary rewards not only recognizes their effort but will also serve to show that the government cares for its people and was willing to invest for their future.

Thank you for reading my post and see you on the next one!