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Student auctions off future earnings, drops out of college

Fed up and sinking in college loan debt, Sarah Hanson decided to gamble on a novel idea [1], the Huffington Post reports. The 19-year-old student and developer decided that she would sell 10 percent of her future earnings to the highest bidder so she could drop out of college to focus on her startup. The closing bid was $125,000 — a figure Hanson was hoping for but that nevertheless left her stunned, the teen told the Huffington Post in an email. Before the auction began, Hanson assured potential bidders that she would use the money to pay down her existing college debt and to launch her project, a website called Senior Living Map [2] that helps seniors and their families find assisted living facilities. Hanson got the idea for her venture when helping her grandmother find a new place to live [3], she told VentureBeat…

Read the full story here [4]