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> In return graduates pay us 15% of their income for 2 years if they are earning over $40,000. How do you enforce this? I.e. what stops someone from simply lyi
by nachi 8y ago
> In return graduates pay us 15% of their income for 2 years if they are earning over $40,000.
How do you enforce this? I.e. what stops someone from simply lying about their income?
- asd33313131 8y agoWe use a company called Leif (my former company). They handle all of the income verification and collection. The ultimate truth is from tax returns. The vast majority of people self-report accurate incomes, however.
- ac29 8y agoSo students are required to share access to their tax returns?
- asd33313131 8y agoYep, the income share agreement has a clause where, if Leif asks, they need to share their tax information. This is only if other methods have failed, however.