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Ironically, income share agreements are increasingly being challenged on the grounds that they violate the 14th amendment (being rather close to the indentured
by dnautics 7y ago
Ironically, income share agreements are increasingly being challenged on the grounds that they violate the 14th amendment (being rather close to the indentured servitude model).
I think the (optics) problem is that it's a "more obvious voluntary fractional slavery program". So it's easy to criticize. Of course, because it's a less obvious voluntary fractional slavery program, non-dischargeable loans are simultaneously harder to criticize and harder for people to see the trap they're walking in to.
- xur17 7y agoI could be okay with income share agreements if they had a (short) time and percentage cap. Otherwise I feel like we'll have the same problem, students will sign agreements that they don't understand, and then end up paying for it for a large part of their life.
- mac01021 7y agoIs 10 years short? 20% for 10 years is what it would take for many computer science majors to pay for their degree. And that's ignoring the time value of the money.