Last fall, Point Loma began offering some of its 4,500 students money to pay for college in exchange for a percentage of their future earnings. Several private colleges are exploring income shares, according to Vemo Education, a Reston, Va., financial services firm that helps create the contracts. Income shares resemble traditional loans in that students are obligated to repay at least a portion of the money they receive. The school is still hashing out the terms for a spring debut, but is considering five- or 10-year repayments at less than 3 percent of a student’s income. if deployed correctly.”His organization teamed with the nonprofit College Possible to launch a pilot income share program serving 15 low-income college students in Minnesota during the summer.

Source: Washington Post December 31, 2017 21:21 UTC