At Purdue, student aid based on future earnings could revolutionize college debt

From:  The Washington Post
By:  Danielle Douglas-Gabriel

Students at Purdue University soon will be able to apply for education funding in exchange for a percentage of their future earnings, a program that could revolutionize college financial aid at a time when costs are high.

Through its research foundation, the public college in West Lafayette, Ind. is rolling out the “Back a Boiler” program next month, using a concept known as an income-share agreement, or ISA, that would be available to rising juniors and seniors. Awards will start at $5,000 and will take into account a student’s cumulative debt. Students would repay the debt during the years immediately following college based on a fixed rate linked to their expected income, a gamble that could save them thousands of dollars as compared to traditional loans but also could cost them far more if they land high-paying jobs.

Click here to read more…

Need More Information?

Contact us today at VEMO Education and we’ll answer any questions you have about our products.

Want to Work with Vemo? Register your Higher Ed Institution Today!