Megan Burks, Education Reporter, KPBS Public Media
Student loan debt in the United States is estimated at $1.5 trillion. What if, instead of taking out a loan, you agreed to pay a percentage of your future income in exchange for someone else paying for your education up front?
It’s called an income share agreement, and the concept could soon be used in San Diego to help more people into tech jobs. “We frankly have a talent shortage in our region,” said Andy Hall, Chief Operating Officer of the San Diego Workforce Partnership.
“At the same time, I believe that we have a very large opportunity gap for many people in low-income neighborhoods, many people of color, who don’t have the same access to opportunities early on to step into some of these jobs.”
This article originally appeared on the KPBS website. Learn more about what the San Diego Workforce Partnership is doing to lead the effort: https://www.kpbs.org/news/2019/jan/25/san-diego-workforce-partnership-developing-student/