Chicago’s nifty pilot program to fix our student-loan mess
Apr 14, 2014
Anyone paying for higher education in the U.S. knows we've reached a financial crisis. Modern-day researchers such as Miguel Palacios, assistant professor of finance, continue to advocate equity-based financing, tied to a fixed percentage of future earnings. A Chicago-based start-up hopes to change the way many students pay for their schooling. For each $5,000 of financing that a student obtains this way, he agrees to repay a total of 0.7% of his future earnings over the next 10 years.