A few months ago (it feels like years for some reason), I wrote about a novel idea I had to change the way education is funded. I still have not fully developed the concept, but basically, instead of paying tuition the student would agree to pay back to the educator a certain percentage of future income. This morning, I read in Reason Magazine about a similar approach that is being applied on the loan side of the equation. Instead of getting a risky loan from the government or some other institution, a student would enter into a contract to pay back a percentage of future income to their benefactor. This bolts on to our current system much more readily than my idea. Good luck and God speed to them!
Oh and to those who said it was foolish... well... you know what to do...
Since I know many people who have either dropped out of college and left the country or who have left the country after completely 4 years of college, none of whom entered into the American work force but rather took a totally different route in life, I think its a better idea to pay as you go for the education you're getting in the present.
ReplyDeleteIf such a program like your idea were in place, educators would be without compensation from student like the one described by me above.
There's huge assumption that students are going to be making enough money, heck any money at all, to pay back these educators. Some simply will not. Either they will try but not find work in their fields, and many won't work in their field at all but simply do something entirely different, sometimes that does not involve working for money at all.