Thread regarding Purdue University/West Lafayette layoffs

"Will Income-Share Agreements Be the Next Payday Loans?"

"This week, Indiana’s Uniform Consumer Credit Code will be amended to exempt state higher-education institutions from having to comply with key consumer protections. The change is so subtle that it has not drawn much attention, but it has huge implications for Indiana students who sign up for “income-share agreements” (ISAs). These contracts commit a student to pledging a proportion of future income in exchange for money to pay for college. Schools like Purdue University, and the private lenders and investors that it partners with, will no longer be required to comply with many of the rules that apply to other lenders in Indiana."

https://prospect.org/article/will-income-share-agreements-be-next-payday-loans

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