Are there any legit income-sharing schools of this type, tech or otherwise? Done fairly, it sounds like an interesting alternative to upfront tuition.
On the surface it doesn't seem like a bad model, but of course it could be twisted to evil ends. From the article:
> The loans carry substantial risk, as a single missed payment triggers a default and the remainder of the $30,000 “cap” becomes due immediately.
> Students were therefore deprived of rights they should have had when their “income share” loan was sold to an investor [without the required Holder Rule provisions transferring legal responsibilities to the new owners].
On the surface it doesn't seem like a bad model, but of course it could be twisted to evil ends. From the article:
> The loans carry substantial risk, as a single missed payment triggers a default and the remainder of the $30,000 “cap” becomes due immediately.
> Students were therefore deprived of rights they should have had when their “income share” loan was sold to an investor [without the required Holder Rule provisions transferring legal responsibilities to the new owners].