(INDIANAPOLIS) – With presidential candidates debating different versions of free college tuition, some schools are addressing student loan debt a different way.
“Income share agreements” apply the old employment-agency model to higher education. You don’t owe tuition up front, but once your new degree or certificate lands you a job, the school gets a cut of your paycheck for a while. ISA schools argue that gives them incentive to make sure students are prepared. and gives students incentive to give their best.
Indiana Senator Todd Young praises ISA schools like Indy’s Kenzie Academy as innovators. But he’s trying to add legislation into a tax bill to set rules for income share so schools don’t scam you.
Indiana Sen. Todd Young (R) (Photo: Eric Berman/WIBC)