“Why is school so expensive? I think our whole educational system is broken, and it’s an exploitative situation, however you cut it.”
Agreed. The fact that people must resort to these things just to further their education is absurd. Education should be made for everyone at an equal and fair price.
In the end, most preferred to stick with the borrowing option they better understood: traditional, interest-bearing loans.
People not comfortable with this new income-sharing idea, would rather stick to traditional and proven concepts.
the student would eventually repay a total of $20,647.
So a resident of Indiana who attends Purdue would wind up paying more than what the actual tuition is?
even if their total payments are less than the amount they received.
This is fair and extremely positive for the students.
they agree to pay a percentage of their future income over an agreed-upon period of time.
Written agreement? Verbal? What about if the student doesn't have the money to pay?
pledging to pay a percentage of their future incomes in return for funds today.
This can be very risky, in my opinion, as the students do not know how there futures may turn out.