Skip to navigationSkip to content
Close
New bill on students pledging future income ‘an open license for discriminatory financing’

New bill on students pledging future income ‘an open license for discriminatory financing’

Read more on MarketWatch

Contributions

  • This bill seems dangerously close to a form of slavery.

    A balanced and contextual look at a new partial solution for providing funding for student's college fees and tuition. The article is a bit long but provides an amazing amount of detail. Longer review at credder.com/article/2628

  • I can see the attractiveness of this for some investors and also for some students, especially ones who don’t qualify for a lot of traditional student loans or aid. However, basing it on major really does open the door to discrimination , and what happens if a student changes their major? Do rates adjust

    I can see the attractiveness of this for some investors and also for some students, especially ones who don’t qualify for a lot of traditional student loans or aid. However, basing it on major really does open the door to discrimination , and what happens if a student changes their major? Do rates adjust?

    I also see a big problem with this in that a LOT of people end up in a career that is only tangental or unrelated to what they majored in. Add to that the current gig/at will employment landscape with no guaranteed employment and stagnant wages, and incomes for a lot of folks vary widely from year to year or month to month. Plus that field that was predicted to be so hot and in demand 4-5 years ago may not be in demand anymore or might be oversaturated as more companies find it more cost effective to retrain or augment the skill set of existing employees.

    I definitely understand why schools and trusts would like ISAs (extended income stream, not a major profit center), but unless a student is locked into a major and gets a good job fast, it could end up being hellishly expensive for the student. And a huge gamble for anyone expecting to get rich.