[20190715]IF11269_收入分成协议的经济学视角.pdf

https:/crsreports.congress.gov July 15, 2019An Economic Perspective of Income Share AgreementsIncome Share Agreements (ISAs) have received attention as an alternative to student loans for financing higher education expenses. Purdue Universitys “Back a Boiler” program has perhaps received the most attention recently, although the University of Utah and a number of smaller schoolsColorado Mountain College, Messiah College, and Clarkson Universityas well as several independent private companies offer such programs. This In Focus provides an overview of ISAs along with a comparison to student loans. Because no federal ISA program currently exists and the majority of student loan debt is associated with the federal student loan program, the overview and comparison primarily focuses on private ISAs and federal student loans but generalizes some parts of the discussion to highlight particular features of each financing approach. To conclude, potential policy issues and questions Congress may consider are presented. Overview of ISAs An ISA is a contract between a student and an investor in which the student receives college funding in exchange for pledging a fraction of the students futur