https://www.theatlantic.com/education/archive/2018/06/an-alternative-to-student-loan-debt/563093/ … lmao indentured servitude
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also this reads like some weird apologetic piece papering over how shitty unaccredited institutions can be, did we seriously forget about ITT already
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Replying to @peixianw
If that’s indentured servitude what are student loans?
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Replying to @AustenAllred
government backed monetary vehicle to enable students to gain knowledge at (usually) accredited institutions, where classes can generally be transferred between one institution and others?
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Replying to @peixianw
I can take out $200k of student loans to study American Sign Language at the University of Phoenix. Good to hear that accreditation solves all the problems.
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Replying to @AustenAllred
if the University of Phoenix shuts down and I was a student, my classes transfer to another university, I’m not on the hook for my loans there, etc. Accreditation is hardly a panacea, but it’s hell of a lot better than the wild west of education
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Replying to @peixianw
The problem isn’t not getting a degree, it’s getting a worthless degree. If a school with an income share agreement shuts down you never pay them anything. If you don’t get a job the school with an income share agreement gets nothing.
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Replying to @AustenAllred
I’ll take you for your word that when a income share agreement terminates you’re released from your debt obligations, although these terms aren’t legally regulated. Bootcamps don’t solve the worthless degree issue, unless “not offering humanities degrees” is a solution
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Replying to @peixianw
There are no debt obligations; it’s a contract, and yes contracts are highly regulated.
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Students go to bootcamps to get a job. An income share agreement says that if you don’t get a job the school doesn’t get paid and you don’t pay tuition. A university may be more than just “I want to get a job,” but there’s clear data that’s what most students go for
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