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Our Bureau

Hyderabad , Aug. 12

Ron Steen, a 19-year-old youth from the US, has found an innovative way to support his college education. Not a loan or a charity. He has decided to use eBay, the online auction site, to sell part of his future earnings in return to a lump sum payment to him.

He promises to send 2 per cent of every dollar he earns after he completes his college studies in 2012. Every January thereafter, until 2052 when he would turn 65, the winner of the bid would receive cheques. The bid, closing on Sunday, starts at $1,00,000 (Rs 46,00,000), the eBay offer on `2% of Ron Steen's Future Earnings for College Money auction', says.

Steen claims that the winner could ultimately end up getting six times more than what they invested. Though there are no takers as of now, visitors to this offer posed a variety of questions, ranging from his grammar mistakes to guarantees of returns.

Steen points out that like any other investment, investment on him carries risks. He, however, advises that one can insure. Regarding doubts on his grammar abilities, he frankly admits that he is not that great at spelling.

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