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College Kids Turn Notes Into Cash - 10/23/15

Perhaps you remember from school the kid who took the best notes.  We all presumed that that person would be very successful in life, including financially, given their attention to detail and the consistency of their efforts.  As it turns out, that expert note taker doesn’t have to wait to be financially successful anymore – they can turn their notes into cash immediately online. 

Luvo is a Boston-based online marketplace for study materials and tutoring.  As reported by Bloomberg, the company has one hundred and eighteen thousand users – that according to the company’s twenty seven year old found.  Sellers of notes and other materials earn an average of four hundred dollars per semester.  Many of the students who purchase notes on the website find themselves in large, impersonal lecture courses and are looking for some help. 

Many of these students wait until the last moment, meaning just before a test.  The most active time for this website is at 1:00 a.m.  While Luvo claims to be a lifeline for students who aren’t receiving enough useful instruction from their professors, some colleges have banned note-taking websites and have told students that their use can result in expulsion.

Anirban Basu, Chariman Chief Executive Officer of Sage Policy Group (SPG), is one of the Mid-Atlantic region's leading economic consultants. Prior to founding SPG he was Chairman and CEO of Optimal Solutions Group, a company he co-founded and which continues to operate. Anirban has also served as Director of Applied Economics and Senior Economist for RESI, where he used his extensive knowledge of the Mid-Atlantic region to support numerous clients in their strategic decision-making processes. Clients have included the Maryland Department of Transportation, St. Paul Companies, Baltimore Symphony Orchestra Players Committee and the Martin O'Malley mayoral campaign.