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Income-sharing agreements let students trade future earnings for investment

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Re: Income-sharing agreements let students trade future earnings for investment

#151

Post by dsfyu404ed »

dahart wrote: post #92
jki275 wrote: post #61

Earlier quoted context omitted.

what is "free"? There is no "free", it just means I have to pay for it. I prefer to pay for my own responsibilities, not for people to get underwater basketweaving degrees.

Do you pay for your own roads & police? It’s very likely you’re using some publically funded resources more than others. If you actually got your wish and paid for all of your own responsibilities, isn’t there a pretty good chance it would completely bankrupt you? Think about it and be honest about what benefits you’re actually receiving. Paying for education for all is something we could very easily afford by moving…

Based on the demographics of HN (and software in general) it is highly likely that whoever you are talking to is a net contributor by a long shot, not net recipient.

Re: Income-sharing agreements let students trade future earnings for investment

#152

Post by [deleted] »

harryh wrote: post #83
neffy wrote: post #69

Oh, hey. Somebody just reinvented indentured servitude. https://en.wikipedia.org/wiki/Indentured_servitude Good job.

Indentured servitude requires someone to work for a particular employer for a fixed period of time. ISAs do not do this. Words have meanings. You don't get to just ignore them to make an emotional point.

[deleted]

Re: Income-sharing agreements let students trade future earnings for investment

#153

Post by SkyBelow »

ceejayoz wrote: post #51
empath75 wrote: post #50

Earlier quoted context omitted.

Just make student loans dischargable in bankruptcy again, problem solved.

Well, one problem solved, but likely creating (or restoring) others. Their non-dischargable status helps keep rates low(er) and allow folks who'd never qualify for a $100k loan otherwise get a degree. If we're gonna require a bachelors degree to work at McDonalds, it's probably time to treat undergraduate education like K-12; as an entirely publicly funded endeavour.

>it's probably time to treat undergraduate education like K-12; as an entirely publicly funded endeavour.

Perhaps the issue is how we already treated K-12 education such that having a high school diploma has such low value now.

Re: Income-sharing agreements let students trade future earnings for investment

#154

Post by strikelaserclaw »

honkycat wrote: post #115
tracer4201 wrote: post #80

Earlier quoted context omitted.

My parents didn’t have mountains of wealth. We grew up in a home where sometimes my mom forced me to go to school even when I was feeling sick because I could get one of my meals there. In your view of the world, people like me essentially wouldn’t have access to opportunity that would be reserved for the wealthy folks. You shouldn’t have to care about me individually, but if there are enough people like me, it takes…

> In your view of the world, people like me essentially wouldn’t have access to opportunity that would be reserved for the wealthy folks. I hate to break it to you, but this is already very much the case. Do you think the education you got was even CLOSE to what a Bill Gates or Mark Zuckerberg received? You are dreaming.

I think the crux is that having an accesible education is for social mobility, who knows maybe his children can gain access to the type of education bill gates and mark zuckerburg got.

Re: Income-sharing agreements let students trade future earnings for investment

#155

Post by dsfyu404ed »

rchaud wrote: post #134
jki275 wrote: post #61

Earlier quoted context omitted.

what is "free"? There is no "free", it just means I have to pay for it. I prefer to pay for my own responsibilities, not for people to get underwater basketweaving degrees.

The fact that you're using cliched "conservative" meme tropes like "basket weaving" indicates you're not interested in having a non-ideological discussion about this. As of 2016, the most common bachelor's degrees in the US were in the areas of business and healthcare [1]: [1]: https://nces.ed.gov/programs/digest/d17/tables/dt17_322.10.a... From the table in the link: Business - 371,694 Health Professions - 228,896 P…

Basket weaving isn't a "conservative meme". It may have once been (in a time before memes) but that phrase is in common usage as equivalent to "any degree of little to no value".

Re: Income-sharing agreements let students trade future earnings for investment

#156

Post by jklm »

harryh wrote: post #83
neffy wrote: post #69

Oh, hey. Somebody just reinvented indentured servitude. https://en.wikipedia.org/wiki/Indentured_servitude Good job.

Indentured servitude requires someone to work for a particular employer for a fixed period of time. ISAs do not do this. Words have meanings. You don't get to just ignore them to make an emotional point.

I think the parent poster might have meant sharecropping. But the point is still valid.

Re: Income-sharing agreements let students trade future earnings for investment

#157

Post by SkyBelow »

neffy wrote: post #69

Oh, hey. Somebody just reinvented indentured servitude. https://en.wikipedia.org/wiki/Indentured_servitude Good job.

The notion that paying back a loan based on percentage of money earned is indentured servitude seems to skirt very close to the libertarian memes that taxation is theft/indentured servitude.

Re: Income-sharing agreements let students trade future earnings for investment

#158

Post by mrguyorama »

instaheat wrote: post #75
ChrisClark wrote: post #68

Earlier quoted context omitted.

And this is exactly what's wrong with the US right now. No one cares to help anyone else. Even in healthcare! "I have my money, if they die it's because they chose to be poor."

Chris, I understand what you are saying. Of course we care to help other people. Collectively, the US might be seen as "selfish" but I think at a certain point, you have to understand you do not want to harm yourself just to help someone else. I really feel for people who will go to great lengths to help others, even if it reduces the quality of their own life just because it's the "right thing to do" My mother-in-la…

>Again, I GET IT. But do you understand why some may have these selfish viewpoints?

A complete lack of empathy for fellow people

Re: Income-sharing agreements let students trade future earnings for investment

#159

Post by sushisushisushi »

sct202 wrote: post #9

Am I reading this right? You have to pay 2.5% of your income for 7 years as a comp sci graduate for a loan of only $10k. Seems like a pretty terrible deal. Edit: Avg comp sci grad salary from Purdue is $72k, assuming 5% raises on average including promotions, you'd pay about $14.6k for this loan, which is roughly equivalent to a loan with an 11% interest rate per year over 88 months. Edit2: I was a business major, an…

Yeah but imagine how awesome higher education will be with private equity/VC firms determining how to price-discriminate majors in order to increase their returns

Re: Income-sharing agreements let students trade future earnings for investment

#160

Post by bgorman »

rchaud wrote: post #125
simonsarris wrote: post #76

Earlier quoted context omitted.

Absolutely not, at least not without making college much more difficult. Otherwise it is just subsidizing adult daycare. Many people do not belong in college and learn next to nothing, but go because they're shoo'ed along into it and the universities are in on the joke, and in on the money-making, and undergoing a drastic reduction of standards as a result. Some data on just how bad higher ed is getting, from 2017: h…

Many people also do not belong in an Engineering program, and that's why the 101 classes are designed to weed people out. That system already exists in higher education. At my (liberal arts) school, we have a two-strike policy. Strike 1 is when you have a sub 2.0 GPA in a semester; that gets you an academic suspension for 1 semester. You can rejoin only if you retake similar courses elsewhere and meet a minimum grade…

Anyone with a pulse can get a 3.0 GPA in college. Due to grade inflation a "C" has become a B. A 2.0 GPA in college is basically straight Fs. In order to average less than a 2.0 in college I would imagine you would have to not show up for your exams and refuse to do any assignments.
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