I'm sure many of you have heard of phrases like; "own yourself", or "be a business", but now there is a way for people apparently to take self ownership seriously and offer a stake in themselves. Income share agreements allow investors to fund the college education of students in exchange for the students owning a share of their future income to those investors. Is this superior or inferior to the debt to the state based financial aid or other more private loans?
Then, she and her father happened to be watching a local news show that mentioned Purdue’s test of a different way to pay tuition. The Purdue Research Foundation’s new “Back a Boiler" program would fund upperclassmen who were willing to repay the foundation a percentage of their post-graduation salaries for no more than 10 years.
So for up to 10 years would you be willing to give up a percentage of your salary post graduation? What if you don't get a salary? This could present risks for people who might assume more success than they'll get or who might find themselves doing something entirely different from what they expected. How do you feel about this? Would you do it? Is this something which could be put on a blockchain?
OMG just thought of that and wrote about it on your previous post. Doesn't that give the elders, investors a way to invest in the future generations.. instead of the Corporatocracy? I would invest this way.. direct bond smart contract via the university who also has a stake in assuring courses that pay after school.
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That is interesting, an equity position instead of a debt position. I would do it if it was a fixed percent of salary with no minimum on the payment. Debt is a fixed total amount and interest builds if payments are delayed. At the end of the day I would have to see the numbers first.
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Interesting idea. This would be a great way to pay for further education. However, I would be concerned with the percentage of salary owed over 10 years.
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Good post! I'm going to follow you to see more post like this and for support us!
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I can see the appeal of the idea but I can also see it, like student loan debt, becoming a new form of indentured servitude. A successful and enlightened society should share its wealth with the next generation. It is not about an investment in individuals, but in a culture that recognizes that encouraging education and effort is a social good. If it is reduced to ROI, non-lucrative jobs like teaching become even less affordable and desirable.
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