FRESNO, Calif. (KMJ) — College students in the Golden State could get some assistance with paying back their student debts, without having to take out additional loans, under a new bill making its way through the legislature.
Assembly bill 154, introduced by Republican Assemblyman Randy Voepel, would however, require participants to pledge a share of their future earnings to the college or university they attend.
The concept, often referred to as an “income-sharing” agreement, dates back to the 50s.
Economists including Milton Friedman were among early proponents, favoring such agreements over loans and government subsidies.
