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Chapter 265: Credit System
Chapter 265: Credit System
Jiangnan University had become the center of attention. Their reform, as expected, immediately caught the eye of the public.
To most summoners, Lu Wu's bold move was simply an impressive display of power and ambition. However, the same action was viewed very differently by the other summoner universities.
What's going on here? Canceling the grade system and allowing students to stay after graduation? Giving the school autonomy in management?
Every single action seemed to be crossing the red line. How did the Education Bureau approve this? Could it be that they're preparing to loosen regulations?
If that's the case, they won't be able to rest easy.
That very day, various universities submitted applications to the Education Bureau, hoping to take advantage of this opportunity and get approval for previously rejected requests.
The Director of the Education Bureau smiled upon seeing these applications.
What are these guys thinking?
Do you all have a father like Lu Haikong? He rejected all applications without hesitation and even singled out several universities with particularly outrageous requests for criticism.
This left the leaders of the universities dumbfounded.
Why is it that Lu Wu can do it, but when it comes to us, it's a different story? Is it because our schools are doing too well? Unlike Jiangnan University, which is on the verge of collapse?
The Education Bureau responded, clearly stating that the reason for the rejection was indeed because of the excellent performance of these schools.
Of course, the Bureau's response was delivered in a more diplomatic and official tone.
They explained that Jiangnan University's reform was a targeted experiment by the Education Bureau.
Experiments come with risks, so for now, all reforms at Jiangnan University will not be implemented in other universities.
After this statement, the previously rejected university leaders felt relieved.
Indeed, their applications were rejected because their schools were performing too well.
There was nothing they could do about it.
Even the most capable individuals would find it challenging to mess things up.
Subsequently, they abandoned their plans to take advantage of the situation and instead turned their attention to Jiangnan University.
They settled in to watch the drama unfold.
...
At Jiangnan University, under Lu Wu's leadership, the reforms began.
The original grade system was abolished, and all classes were canceled.
Lu Wu restructured the school into two departments: Summoning and Cultivation.
The Summoning Department was further divided into two academies: Combat and Exploration.
The Cultivation Department consisted of three academies: Beast Cultivation, Equipment, and Alchemy.
Each student could choose to join one of these academies.
After joining, students would receive foundational training, and upon completion, they could freely choose their courses.
Additionally, Lu Wu established a credit system.
Credits were essentially the school's currency and could be used to improve their living environment.
Students could use credits to learn skills, enter mystic realms, and purchase cultivation materials.
With enough credits, students could do almost anything they wanted.
There were several ways to earn credits.
Firstly, students automatically received 10 credits upon enrollment.
Secondly, after completing courses, students could take exams and earn credits based on their performance.
The school also assigned tasks, and completing them would grant additional credits.
Furthermore, Lu Wu planned to create a Top 100 Leaderboard, and students on the leaderboard would also receive credits.
These were the only ways to earn credits at present.
Lu Wu's system sounded simple, but implementing it was quite challenging.
Numerous issues needed addressing.
Fortunately, Lu Wu's authority in Jiangnan was unchallenged. Teachers might have had their opinions, but Lu Wu's orders were followed without question and with utmost efficiency.
Within just five days, Lu Wu had established the basic framework.
However, Zhang Wentao quickly identified a problem.
They were running out of money! Initially, Zhang Wentao had optimistically stated that the school's account balance of over 20 million points would be sufficient for Lu Wu's expenses for a year or two.
But in just a few days, the funds were nearly depleted.
This was primarily due to the credit system.
In Lu Wu's plan, the value of credits at Jiangnan University was equivalent to 10 times the value of the internal network points, and they could be freely exchanged.
Lu Wu had given 10 credits to every student upon his arrival.
With a total of 18,111 students at Jiangnan University, this meant approximately 1.8 million points were distributed.
When Zhang Wentao initially allocated this amount, he was quite pleased. It was just 180,000 credits, or 1.8 million points, and now Jiangnan University had money.
But soon, Zhang Wentao's smile faded.
The students swiftly completed the foundational courses and passed the corresponding exams, requiring another expenditure.
Zhang Wentao felt a pang of regret, and immediately after, the students who finished the foundational courses started choosing courses they had previously taken.
In a swift move, students rushed to complete the courses and pass the assessments. These self-selected courses, being offered by the academy, were free to study, and passing the assessments even granted them credits.
For senior students, this was a legitimate opportunity to boost their grades.
There was no way they could let this chance slip by.
In this scenario, some diligent students managed to accumulate 231 credits within a week, which was equivalent to earning 2310 points or at least several million dollars in monetary value.
What was more concerning was that a significant portion of the student body had converted their credits into points.
Even if not all, a small fraction had been exchanged.
Although Lu Wu had stipulated that credit-to-point conversion was limited to a 1:10 ratio, and point-to-credit conversion was 12:1, students still made the exchange, apparently believing that points were more reliable than credits.
This single move almost depleted the school's finances.
Zhang Wentao was devastated.
In the midst of this crisis, Lu Wu remained calm, hugging his knees. He had a plan to address the situation.
However, he kept it to himself, leaving Zhang Wentao anxious and the onlookers worried.
Everyone feared that Lu Wu was taking too big of a risk, and a slight miscalculation might lead to the collapse of Jiangnan University.
It seemed miraculous if the university could even survive for a month under these circumstances.
The tension even reached the students of Jiangnan University themselves.
Some appealed to their peers not to exchange points, leaving room for the school.
But it was futile; human nature is selfish, and some things are simply beyond control.
Despite knowing that the school might go bankrupt if this continued, the students wouldn't stop.
From their perspective, this was a systemic issue.
If they didn't exchange, others would, and the school's finances would eventually collapse. It was now or never.
Some even thought that the school's bankruptcy wouldn't affect them.
At most, they'd transfer to Jiangbei University and make a profit first.
They weren't afraid of any potential penalties Lu Wu might impose.
The worst that could happen was expulsion.
Lu Wu's solution to this situation was straightforward.
He decided to invest all the remaining funds in hosting the first-ever Jiangnan University Summoner Tournament.
The competition itself was standard, but the rewards were unusually generous.
The first-place winner would even receive a Golden-grade Summoned Beast Cub.
Even those in the top 100 would earn 100 credits and a customized cultivation plan tailored by Lu Wu himself, with no time or user restrictions.
The only condition for participation was possessing 300 credits.
Everyone could see that this competition was Lu Wu's strategy, but they still fell for it, mainly because Lu Wu's offer was too tempting.
The top 100 would receive a customized cultivation plan from Lu Wu, with no time or usage limits.
Who was Lu Wu?
He was the youngest Master Breeder in history, destined to reach the Grandmaster level.
This was equivalent to a Grandmaster's promise, attracting not only Jiangnan University students but also those outside the university.
With the announcement of the competition, the rush to exchange points intensified compared to the previous credit-to-point exchanges.
However, the university managed to regain some stability by setting the point-to-credit conversion rate at 12:1.
Subsequently, Lu Wu scheduled the competition three months later, using this time to stabilize the credit resources within Jiangnan University and initiate the reform process.
He aimed to optimize the credit system and address the issues it had caused.
This move brought the initially collapsing university back on track.
But Lu Wu only had three months to accomplish this reform. If he failed to complete it within this timeframe, the competition's end would trigger another wave of point exchanges.
Lu Wu, in essence, had set himself up for a challenging mode.
However, there was a solution to this situation. If Lu Wu needed to resolve the issue of credit and point exchanges, it would naturally be resolved.
But Lu Wu was unwilling to do so.
The credit system, which was the core weapon for developing Jiangnan University. Without the credit and point exchanges, Lu Wu's plans for rapid development would be nearly impossible.
Therefore, Lu Wu had to pull out all the stops.
As Lu Wu prepared to make his big move, another significant event occurred in the Summoner University circle, which had some connection to Jiangnan University.
Zhang Yuchi had just secured the Grand Slam of Study Tours by winning at the Capital University.
(End of Chapter)
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