Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
2008-07-01
2008-07-01
Diaz, Susanna M (Department: 3692)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
Reexamination Certificate
active
07395234
ABSTRACT:
An apparatus, method and program for user to contract a future education fee amount now and paying for the said education fees in the future. This is done by way of a contract agreeable between the institution and the user where the future fee is only payable if said user is being offered admission to the institution. The user in initiating this contract provides details of the amount that can be paid in the future for a specific course, past academic results, time to commencement, personal data, flexibility factor, the intended course etc. The responding institution will determine whether the presented merits a contract to fix a future education course fee today. If the institution should decide to offer this contract then a premium is calculated to secure this contract. The benefits of this invention is that users will be able to lock in their future education fee today at a price which they believe they can afford in the future but more importantly they will have security that if accepted by the institution, the cost is fixed and hence they can plan for their funding today. And from the institution's point of view, they will have a first hand opportunity to select from a pool of candidates to fill up courses admission. These contracts are conditional upon receiving an admission by contracting institution and provide a right but not obligation to pay the fixed education fees. By contracting early and receiving a premium, these institutions will be reliably funded and at a cheaper rate as well.
REFERENCES:
patent: 6862579 (2005-03-01), Mathews et al.
patent: 2002/0004782 (2002-01-01), Cincotta
patent: 2005/0144118 (2005-06-01), Dev et al.
patent: 2008/0033864 (2008-02-01), McDonough
Archived Eduoption web page, retrieved from [URL: http://web.archive.org/web/20020813215330/barcodeticket.com/eduoption] on Feb. 7, 2008.
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