A New Far-Right Proposal for Financing College “Innovatively”: Or, How to Graduate from College as an Indentured Corporate Servant

ACADEME BLOG

In “Here’s a New Way to Pay for College,” an article published in USA Today [http://college.usatoday.com/2014/04/17/heres-a-new-way-to-pay-for-college/], Daniel Wheaton reports on a new Far-Right proposal to address the student-debt crisis. In a bill that they have called “The Student Success Act,” Marco Rubio, the Republican Senator from Florida, and Jim Petri, a Republican House member from Wisconsin, are proposing private financing of college educations with money pooled from corporate sources.

So, how is this different than student loans secured through private banks? Well, the funding would be framed or defined more as a long-term investment. The recipients would agree to pay back a portion of their incomes for 30 years as a sort of dividend to those who have made the investments in their educations. Rubio and Petri call these contracts “income-share agreements,” and the percentage of the participating student’s income that he or she will owe the investors…

View original post 730 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s