Norwich University Proposes to Take a Cut of Graduates’ Future Salaries

As students increasingly struggle to get a handle on their college debt, some schools are offering an alternative to loans: tuition dollars in exchange for a share of a graduate’s future salary.  So-called income-share agreements aren’t a new idea – economist Milton Friedman first conceived of them in 1955. But spurred by the higher education affordability crisis, certain colleges – including in Vermont – are trying out the concept in practice. Most recently, Norwich University (VT), a private military college in Northfield, announced it would try a pilot ISA program with a small cohort of students.