Solving America’s Student Debt Problem With EdTech
- September 29, 2017
- Posted by: Kerry Schneider
- Category: Income Share Agreements (ISAs)
It’s no secret that the cost of a college education in the United States has soared over the last several decades. As of September 2017, about 44 million Americans collectively owe over $1.45 trillion in student loan debt. The need to create more affordable methods and plans for students pursuing higher education has never been greater, and this is where Vemo Education steps in.
Founded in August 2015, Vemo designs and implements income-based financing programs that more effectively use institutional resources. They are the market leader in Income Share Agreements, through which students can have their full tuitions paid for, in exchange for surrendering a percentage of their post-graduation income. The agreements eschew the burdensome interest that comes with traditional loans, and also allow for a greater variety of investors to contribute to student tuition. It’s a novel approach to solving the student debt crisis in this country. Techweek’s Head of Media, Prab Kumar, sat down with the CEO of Vemo Education, Tonio DeSorrento, to learn more.