My alma mater did something kind of neat. They offer up to 10K per year towards tuition in exchange for 6.4% of your income for 10 years, so long as your income is over some threshold.
The school is essentially betting on itself that its students will average a salary higher than 63K over those 10 years. If memory serves, the profits get rolled back into the program
Schools should back the loans not the government.
If colleges believe the student will pay back the loan won’t be a problem.
Business , medical and law schools won’t be effected since they know students will pay back those loans . most lower tier art schools would be
Can use their endowments to back the loan . If they really believe in the students
Fuck yes. This is the answer. The government doesn't back home loans or car loans.
I think this is the right direction.
My alma mater did something kind of neat. They offer up to 10K per year towards tuition in exchange for 6.4% of your income for 10 years, so long as your income is over some threshold.
The school is essentially betting on itself that its students will average a salary higher than 63K over those 10 years. If memory serves, the profits get rolled back into the program