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If you have the option of paying a percentage or a flat fee, it would seem like those with an expectation of high future earnings would always take the up-front
by fiatmoney 13y ago
If you have the option of paying a percentage or a flat fee, it would seem like those with an expectation of high future earnings would always take the up-front cost, leaving you with a much smaller pool of students. Once you near the end of that 24 year period, I'd also expect to see a lot of deferred compensation schemes amongst high earners.
- refurb 13y ago"Adverse selection" was mentioned in the article. Going into a lucrative career? Self-fund. Want to learn something that will never pay you a decent wage? Sign up! What you end up with is a bankrupt system program in a decade or so.