Twilight of income-share agreements to pay for college?
The Hechinger Report: “Purdue’s announcement in June that it was suspending the Back a Boiler program came as a thunderclap in the world of income-share agreements … and could signal the beginning of the end of experiments involving college students splitting their future paychecks with investors. … Purdue’s pause points to bigger problems in the ISA industry … In a consent order last September issued by the federal Consumer Financial Protection Bureau against several private ISA providers, the bureau concluded that the schools had violated federal law by falsely telling users that ISAs weren’t loans and don’t create debt.”
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