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Ranger03

Adam send your kids to college

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this is what Coleco promised with the Adam

 

wikipedia btw

 

A $500 college scholarship along with each unit for use by a young child (with $125 paid for each completed year of college)

 

tuition costs more than that nowadays

 

it was also in most Compute! magazines

 

anyone remember?

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I think the basic idea was like a mail in rebate where they assume most people won't fill out the forms and save their receipts, but the offer helps them make the sale. And then they have a bunch of terms and conditions they use to disqualify people, so they don't have to pay the rebate.

 

Except with this scholarship, even less people would get the money then with rebates. One would have to wait longer to collect, and there were more terms and conditions, ensuring the fewest people possible were able to get the money.

Edited by Hannacek

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It's not a scam if they require you to save the receipt and fill out forms, and send in the transcript after you finished a year of college. It's a scam if they violate the terms and conditions of the offer, or if some of the terms and conditions of the offer they can not legally make.

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I think the basic idea was like a mail in rebate where they assume most people won't fill out the forms and save their receipts, but the offer helps them make the sale. And then they have a bunch of terms and conditions they use to disqualify people, so they don't have to pay the rebate.

 

Except with this scholarship, even less people would get the money then with rebates. One would have to wait longer to collect, and there were more terms and conditions, ensuring the fewest people possible were able to get the money.

what other restrictions?

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what other restrictions?

 

 

What do you mean by "restrictions"? I think my original post clearly lays out the burdens companies place to limit the amount of people who successfully redeem these kinds of offers. I am not familiar with this specific offer, so I was commenting on similar offers I am familiar with.

Edited by Hannacek

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what other restrictions?

 

For instance, they show a nine year old kid...implying he could get the scholarship, even though he probably couldn't redeem it for ten years, until after a year of college.

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Remember this well and have come across A LOT of the forms to mail back to Coleco that were never used. There was no scam here on Coleco's part, just another means used by them (and numerous other companies) to try to make the ADAM an even more attractive item to purchase. All one has to do to collect is follows the rules that were laid out... well, until things started to go south for Coleco and they eventually filed for protection under bankruptcy laws a couple years later.

 

As I said, numerous companies used this method to sell their products including Parker Bros. I followed the rules they laid out and always received what was offered.

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For instance, they show a nine year old kid...implying he could get the scholarship, even though he probably couldn't redeem it for ten years, until after a year of college.

And ????

 

So I guess Coleco knew they would be filing for bankruptcy protection a couple years later and would never have to pay up.

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Also after the bad October 1983 ADAM computer launch with technical issues, in 1984 I believe Coleco doubled the warranty on all new ADAM computers to 6 months instead of 90 days. That was a good ideal to try and gain back consumer confidence. There was a big sticker placed on the ADAM boxes mentioning the new 6 month warranty.

Edited by HDTV1080P

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And ????

 

So I guess Coleco knew they would be filing for bankruptcy protection a couple years later and would never have to pay up.

 

No, but I'm figuring they were hoping buyers would assume you could get it within the year rather than waiting ten years and Coleco was hoping the family wouldn't be organized enough or remember to cash in after ten years...or something like that. Who expects to wait ten years to cash in on something like this?

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