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Hi Terry,
Your idea sings melodies to my ears! I think it's such a wonderful idea on so many levels!

First, it has such *ginormous* incentive systems in place! It incentivizes people based on intrinsic motivation (i.e. solving a problem to better society) rather than extrinsic motivation (i.e. money!), hence students are MOST likely to perform so much better and actually look forward to (and enjoy!) their academic experiences!

Moreover, I love that you note the point of students' adaptability in their academic and career paths. Often we, as students, expect a clear direction for our lives to go with little adaptability to circumstances that may happen to us that are our of our control. Posing this question and giving ourselves a means to work through, rather than an end goal, allows us more flexibility to be able to adapt to other life circumstances.

Additionally, it provides us both experiential and academic learning opportunities, which enriches our learning experience immensely!

Finally, it's an extremely feasible solution. Taking a look at NYU Gallatin, I can see how this educational approach may fit. In NYU Gallatin, students are able to construct their own majors by proposing a major, getting it approved by an advisor, then building classes around it to provide the student with a full perspective on whatever topic s/he chooses to specialize in. In this way, Gallatin can take on the framework of allowing students to "major" in whatever problem they would like to solve, and they can construct their curriculum as such! It's so feasible and workable into the current systems we have that you can launch this yesterday!

Hello William!
I absolutely LOVE your idea! As a college student, I can definitely say I would much rather be educated through this system -- I find my learning much more retentive when it's done through discussions and more interactive approaches, so I can definitely see myself benefiting more through your proposed system! It seems like it would help both the educators and educatees alike!

I'm interested to hear how you would plan to strike the balance between keeping the academic material presented focused on the specific subject, yet broad enough for it to fit into the context of crowdsourcing. That is, if I am majoring in Finance then regardless of the class being crowdsourced, there are basic requirements I need to learn in Finance. How would you ensure that the content presented stays within this specific field's framework - as specificity seems to be a tension with crowdsourcing?

Danyelle, I very much appreciate your idea, especially as a college student who is pretty financially literate herself! I think your idea addresses a serious problem in millennials that impacts our lives significantly, through our over-spending and high debt rates.

The process of this educational program seems very viable, however I can't grasp the incentive system. What would incentivize students to want to become financially literate? You mentioned staggering numbers illustrating the problem of teens' financial illiteracy, however you also noted that behavioral psychologists report that most people don't like consulting with a financial adviser. Let alone that, high school students are also very busy, and don't tend to be eager about school/education. What is it that would incentivize them (and even their parents) to engage in this program, and to consistently follow up with it?

I think the incentive system is a gap in this program because it doesn't appeal to or entice the audience it is targeting. Perhaps it can be tweaked to be more "hip" for high school students. Perhaps it can take on after social media and become a sort of networking/sharing platform that provides a service (taking the frame of Venmo, for instance), as millennials seem to be highly motivated by social networks. It can also have the networking effect where friends bring each other on board, as they play against one another in seeing who is most financially literate. What are your thoughts?