Is gradefund legitimate?

["Wayne J. Hauber" <wjhauber () IASTATE EDU>]

I received a question a few days ago about a scheme called gradefund.
You give gradefund money and they reward your student monetarily when
the student achieves good grades.

I am always leery of schemes like this. The notion that I should give
someone my money so they can meter it out is very suspicious to me.

Has anyone heard of gradefund? Would you trust it with your money?

A sample e-mail follows.


Wayne Hauber (515) 294-9890
GCWN GCFA
Information Technology Services
IT Security and Policies
297 Durham Center, ISU, Ames, Iowa 50011
wjhauber () iastate edu

--------------------(sample e-mail)------------------
 I am hoping you will sponsor me in my quest for extraordinary
achievement in my education. This journey is like that of a
marathoner motivated by sponsors who pledge support: I am raising
funds to help offset the enormous cost of my education while ensuring
that I only receive these funds if I get to the finish line by
getting good grades. That is why I am writing you today, and why I
have signed up for an exciting program called The GradeFund.
>
> The GradeFund lets you pledge as little as $5 for any grade levels
you want to sponsor (A, A-, B+, etc.). You can pledge whatever you
think is appropriate by following the link below. The funds are used
to pay my tuition directly or sent to me if you prefer.
>

> Sponsorship link: http://www.gradefund.com/pages/home
>
> The Grade Fund only releases funds after successful academic
achievement. It is easy to enroll. If you don't have an account the
GradeFund will ask you to create one. This should only take 30
seconds and you can use this account with other students, too. If you
have any questions please email me (ccanders () butler edu) or the
GradeFund (support () gradefund com).
>
> I hope you will sponsor me and motivate me to extraordinary
achievement with my education. My education will alter my entire
life. High achievement more so.
>
> Thank you in advance. I look forward to updating you on my
educational accomplishments. I will enjoy your being part of my
educational journey.
>

> Sincerely,

>
> FYI: The GradeFund also lets you set up your own educational
causes for as little as $1 per grade to support areas of study at
schools that are important to you.
>

> Sponsorship link: http://www.gradefund.com/pages/home