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Have We Got a Deal for You

Some colleges are offering an alternative for students who don’t have access to student loans, or don’t want to be repaying them for the rest of their lives: income share agreements. Instead of repaying a fixed amount plus interest, they pay a fixed percentage of their income over a fixed amount of time. The deal “has a certain appeal to students when the concept is fully explained to them,” says Clare McCann, deputy director for education policy at the New America Foundation. Given that future income is unpredictable, the amount a student will pay back is unpredictable, but there is usually a cap on the amount, and schools are motivated to help students find higher paying jobs. (MS/AP) ...I’ll gladly pay you Tuesday for a good job today.