22 July 2018

The Return of Indentured Servitude

Colleges are looking at the future, and the future is eternal peonage of their students:
As more students balk at the debt loads they face after graduation, some colleges are offering an alternative: We’ll pay your tuition if you offer us a percentage of your future salary.

Norwich University announced Tuesday that it will become the latest school to offer this type of contract, known as an income share agreement. Norwich’s program is starting out on a small scale, mainly for students who do not have access to other types of loans or those who are taking longer than the traditional eight semesters to finish their degree.

“Norwich University is committed to offering this new way to help pay for college in a way that aligns incentives and helps reduce financial barriers to degree completion,” said Lauren Wobby, the school’s chief financial officer and treasurer.
The word here is, "Dystopian."

3 comments :

Kaj Telenar said...

A. It's not eternal. It's for a set period of time.
B. Just like leasing is not for everyone, this can be helpful when starting out.

marku said...

Yes but since few degrees actually offer much in the way of wages, the university might end up losing its shirt.

Justice!

Matthew Saroff said...

Kaj, indentured servitude was for a set period as well.

See the wiki.

It is banned under international law as slavery.

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