He says it's just the same when your mum and dad say they'll give you a bike or a stereo if you pass your exams.
One pupil at the college said: "I really like money, that's why I'm going to try harder."
But before you get any ideas - it's not every school that can do this.
This college is about to change its status to a 'city academy', which means it's funded differently. It can make its own rules, whereas most schools have to answer to outside bodies, like education authorities.