"The trend of colleges foregoing traditional tuition in favor of now taking an ‘equity stake’ in their graduates looks like it is catching on.
The idea was first floated by Milton Friedman back in 1955, who suggested an incoming sharing agreement between the universities and the graduates once they enter the work force and begin to earn a regular salary. This obviously shifts much of the liability to make “workforce ready” graduates to the institution.
The Wall Street Journal recently profiled 27 year old Alex Ross, who took advantage of General Assembly coding school’s $14,700 design boot camp. She hasn’t been able to find work yet, but that’s not bothering her, as she took advantage of General Assembly’s income-share-agreement program, which requires her to make monthly payments of 10% of her paycheck for 48 months - but only after she lands a job paying $40,000 per year or more." …