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Flipping the economics of paying for education

Source: Andrew Ross Sorkin, N.Y.Times (Paid Registration)

Silicon Valley is backing a novel idea that proposes to rewrite the economics of getting an education.

The concept is deceptively simple: Instead of charging students tuition — which often requires them to take out thousands of dollars in loans — students go to school for free and are required to pay back a percentage of their income after graduation, but only if they get a job with a good salary.  The idea, known as an Income Share Agreement.

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