archived: https://archive.fo/RLIHY
I think these Income-Sharing Agreements are great; they will exist for short period as the value of college rebalances and the system is gutted and pared back. Mitch Daniels at Purdue is leading on this, smart guy. Clickbait headline though
Honestly I'm not really seeing the problem with this... seems much less predatory than the way the loan system is set up now.
Especially since it's based on your income. I know that while I'm not having difficulty paying back my student loans, they are definitely onerous: if they were tied to my income, rather than a static amount I have to pay, that would make me feel much more comfortable and flexible in terms of finding a new job.
and it doesn't saddle taxpayers with the funding, like many student loans are
Yeah, that's also a good point. Makes it that much more of a win for everyone involved: sensible repayment plan for the student, reasonable ROI for the investor, the schools get their tuition (which are frankly too fucking inflated thanks to the student loan system, but - whatever), and the taxpayer isn't on the hook.
Would probably want to make sure there aren't any legal loopholes lurking that could fuck anybody involved, but honestly this seems like a pretty damn solid model.
(post is archived)