Schoolconomy founder creates app that pays students for good grades

There's a new app available that will actually pay your students for their good grades, and it has ties to the metro Atlanta area. It was created by a Kennesaw State University graduate.

FOX 5 Atlanta first reported on Schoolconomy when one brilliant, excited 7-year-old cashed in on a trip to Chuck E. Cheese.

For many students, school already feels like a full-time job. Founder Regnault Sanders' mission is to help pay them for their hard work.

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Schoolconomy App

From: Supplied

"So one of the big things when I was in school, I had friends who had part-time jobs," Sanders tells Good Day Atlanta's Lindsay Tuman. "When I asked my parents if I could get a part-time job, they said 'You have a job. It's called school.'"

That's why he created Schoolconomy.

"So Schoolconomy is essentially a mobile app platform that empowers students to upload their grades and earn gift cards. So, what we do is incentivize school through a gamified system and really just want to add fun and encouragement for students," he said.

He started the app in January. It's already grown to more than 6,000 students across the country, who have cashed in more than 500 rewards.

"Students are redeeming gift cards. Some of those are $10, $25, $50 gift cards," Sanders said.

His goal is to add more users and offer bigger rewards by bringing on big companies.

"Students love it, parents love it, and that extra buy-in that would really make the biggest difference is really going to come from those brand partners and corporations," he said.

The app is for grade school all the way through college, and Sanders hopes it will reach students who might need a little help.

"When I started, that's what I did it for. I really wanted to be a change agent for any student that was right in the middle. There are students at the top of the class who are going to do good regardless. There are students who have those struggles who are right in the middle where a few good decisions or a few bad decisions could make the world of difference in life," he said.

He's also creating additional educational content for lessons outside the classroom, like how to dress for success and personal finance.

"The feedback from parents, they've been letting me know that students are more engaged in school, excited about homework. So, I see it being a benefit in the long run as well," Sanders said.