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A few tweaks: "That is lot of money, and you may think there is no way someone will voluntarily give up such a large chunk of their income." Why voluntarily?
by DarkKomunalec 9y ago
A few tweaks:
"That is lot of money, and you may think there is no way someone will voluntarily give up such a large chunk of their income."
Why voluntarily? Why not put it in a contract, as a condition of admission? If the expected increase in income is greater than the 20% they'd have to pay, it's still a good deal. Especially if the 20% is charged only on the income above some minimum, i.e, pay nothing or very little of they don't make much.
"adults from a poor country like India or Cambodia to receive a university education and immigrate to a rich country like Australia or Germany"
Why not establish the university directly in the poor countries? The cost of living is lower, so the 20% paid from graduates would go much further, and the countries get to avoid brain-drain.
- MarkMc 9y agoGood points! Regarding 'voluntary': At some point there should be a written commitment from the student, but I'm undecided about whether it will be a formal, legal document signed before admission. The more external pressure I apply, the less the student will accept inner responsibility for the commitment. If you put a gun to someone's head and say, 'sign here' that person will not feel genuine commitment. I'm also on the fence about whether the college should be located in a poor country. Yes, the cost of living is lower but it may be harder for the student to immigrate to a rich country after graduation. Immigration is key - without it the college is unlikely to grow at 10% per year.