From a MediaBistro blog post titled "You Too Can Make Ridiculous Money Writing":

As far as we know, Michael Lewis' rumored $12 per word from Portfolio is the highest rate in the magazine universe.

Not anymore.

mental_floss magazine is giving away five $10,000 scholarships to essayists who best answer the question "Why are you the most deserving person on the planet to win a scholarship?" In 750 words. That's more than $13 per word. Suck it, Lewis.

[Learn more about our $50,000 Tuition Giveaway. The deadline is January 31, 2009.]