Being bribed as a highschool teacher

You are a highschool teacher and it’s the end of the school day. You’re about to leave when two parents enter your classroom. They ask if they can have a word with you about their son, who is one your students and currently failing his class.

They explain that they’ve been very busy lately with their family business and trips around the country so they failed to pay attention to their son and his performance at school. They understand that failing this class means that the son loses his college scholarship, and want to fix this issue. One of the parents takes out their wallet and asks how much it would cost for you to let their son pass. Both start suggesting numbers that are higher than your monthly salary, which sounds very appealing.

If you accept their bribe, the parents will be very grateful to you for allowing their son to have a scholarship option (which seems like a good reason for accepting a bribe).

If you don’t accept the bribe or let the student pass the class, you may destroy a possible good future for a child that may be neglected by their parents and by failing classes is trying to draw their attention.

However, their son bragged about this bribery to some of his fellow students. One of them told his parents, who is friends with the school principal. If they inform the principal, you will probably get fired.

You need to make a decision whether the bribe is worth the risk of losing your job, and if not, whether you still should let the student pass the class. Or is there another option?