OpenIDEO Chicago MeetUp team has raised a though provoking question here: "Does an 18 year old kid understand the value of their education (relative to the price)?"
I'm a university student at a private university and currently the tuition fee for the 2015-2016 academic year is $13.950. Most students don't work so they are backed by their parents. Let's do a quick calculation. Every week we have 20 classes and a semester lasts for 14 weeks. That makes 20x14=280 classes in total. 14000/280= 50$ per each hour! Everyday we have four classes in average. Let's say I feel like skipping school today, it would cost me 200$! That's when money gets really abstact. You pay 14.000$ and never think about the tuition fee again until next year.
Let's redesign the whole journey. John has breakfast and goes to the microeconomics class. There's a POS machine right outside of every classroom. University charges 200$ and he attends the class.
Would it make money more tangible for John?
How would this new way of paying tuition fee influence his in-class performance?
How might we make money more tangible so that people can keep track of it better?
We had the same challange on the Renewable Energy Challange. Energy gets really abstract when paying bills once a month. Check out how M-Power pre-paid price plan makes energy more tangible on Andrew's fab post.