Basically elders are supposed to motivate the students in their social circle. Also as far as rewards are concerned, the expectations of truly serious students are generally different than the normal students.
I have noticed that praising such meritorious students in presence of guests inspires them greatly.
That way the God has been kind to us. I did my best whatever was possible within my means to enable my son to get a fellowship for pursuing higher studies in US. However, he paid back later after completing his Ph.D. in computer science by joining Harvard for post doctoral research instead of joining a very good job, telling me that the universities in US selected by me were not that good.
Let us encourage each other in sharing knowledge.
The objective is to inspire the child of doing even better in the future & not keeping up with the fake promises as if this gets settled in the mind of a child then he will be lost.
A gentleman means a gentleman promise. Pl. keep this forever.
'Idhuvum Kadandhu Pogum "
Even this challenging situation would ease
We do so for non-academic achievements also.,
We should give them a pat on the back, a hug and some good words of appreciation. The gift and value would depend on the age and the achievement. Given them a gift by all means but downplay the importance of it because the young mind should not grow up associating a gift with every good performance and the opposite no gifts/harsh words if the performance is bad.
If you want to gift them, give something useful and one which improves their thinking or creative skills. If there are 2 or 3 young siblings at home, we should be careful not to hurt the feelings of the other children at home, if you buy gifts to buy for all and let all be happy.