This week's Pope Center Clarion Call is my take on a recent AEI paper advocating "Income Share Agreements" as a means of financing higher education.
The concept is good and I would like to see it supplant government grants and loans. Unfortunately, the authors want it to merely supplement the existing system and I don't think that will work -- especially if the most frightening feature of the loan system, the prospect of repayments that can't be made because the graduate isn't earning much, is removed and all loan repayments become income based.
