Ah yes the classic “work wherever you want and if you get a job in the field you got a free education for you pay up to $30,000, if not you don’t pay anything” indentured servitudehttps://twitter.com/spmurrayzzz/status/1016021475021721600 …
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Again, strawman'ing an argument I'm not making. Show me where I noted the incumbent lending cartels are the better approach?
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Your argument was that this is indentured servitude. My argument is that that’s an insane argument.
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You are forced, by fiat, to pay a percentage of your per annum salary if you choose to enter the industry, Its certainly not comparable to the indentured servitude of colonial America, but that would be patently illegal in a modern civil liberty context. Its a spin job.
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So in other words it’s not indentured servitude at all... Agreeing to pay a capped percentage of income if that income falls within certain bounds for two years isn’t even vaguely similar to indentured servitude.
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You're making a semantic argument whereas I'm making a principled one.
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Based on what principle? That paying a percentage of salary is inherently bad?
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Inherently? No, not out of context. But it seems unlikely that the majority of folks entering into these programs can just take 7+ months off in their life without having to take care of life expenses. Given they can't get a student loan, they are forced elsewhere (1/2)
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... and I would bet that means credit cards for most. Which have a much higher average APR than student loans at ~5%. So if they don't get a job, thats a massive burden. If they do, they are giving up a large portion of the salary (I assume pre-tax?) before paying those off
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