Is This a Debt-free College Model

Is debt-free college a possibility and if so what will it look like? Most people I have spoken to don’t want college admissions subsidized or controlled by the government, as they fear a further downhill spiral in education quality. Could the two-year school in San Francisco, Make School, have come up with a solution? Their model allows aspiring app developers and IT entrepreneurs to attend for free. The school’s payback comes in the form of their student’s earnings the first two years they work. Graduates of Make School agree to pay the school 25% of their earnings the first two years they are in the workforce. If the student fails to find work in the tech field or their startup fails then they pay nothing.

This model certainly gives the creators and instructors at Make School an incentive to train and equip their students to be successful. Make School is highly selective in choosing the people they train but I would expect nothing less. The school is investing in their pupils and to continue to educate they need to be successful. The advantage to students attending this type of institution is they enter studies knowing up front what they will be expected to pay in return for their education. Rarely does any college graduate in our country have a clue what their school debt will amount to or how onerous the payback will be. They have no control over tuition increases or interest rate fluctuations. This situation has created mountains of debt, which college graduates often default on creating permanent strikes on their credit histories and garnished wages.

Why can’t Make School’s model be tied to all career paths? Obviously we need any college graduate to be able to find a job and earn a living. The creation of fair and competitive programs has the potential to allow serious young adults an opportunity to obtain an education they can afford.

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