For anyone who’s read this blog consistently, which I’m sure all of you do, you know my feelings about cash incentive programs for students who get good grades, stellar test scores or have perfect attendance.

But in case you missed it, I’m of the opinion that exchanging money for student performance is misguided and sends the wrong message. Yes, supporters argue, such financial enticements are no different than bonuses employees receive for a job well done and its the end result that matters anyway.

Of course, I disagree. I don’t think the ends always justify the means. What sets quality employees apart from their average counterparts, who when incentivized (thanks Arne) do quality work, is pride in workmanship and that’s a trait that can’t be cultivated purely with money.

So, here’s comes another reason why I don’t think cash rewards are a good practice for getting students to do the best they can do: the funding sources can dry up, as they have in Chicago, which launched its “Paper Project” program in 20 high schools just last year.

Officials aren’t writing off the program, just yet, but given the poor economy and the fact that the private donors who completely funded the project are surprise, surprise feeling the pinch, district officials are weighing their options as they also start prioritizing their spending.

“It’s not just a discussion of does the The Paper Project get funded,” Chicago schools’ CEO Ron Huberman told ABC News. “It’s a bigger discussion of— in these difficult times, with funding being cut everywhere— where should we be using those dollars most effectively to have the best outcomes for our kids?”

Hey, Ron, in this economy, I think the best lesson kids can learn is that money can come and go but their performance can stick with them forever.

Senior Editor, Naomi Dillon