Posted inEducation, Higher Education, Magazine, September/October 2012

Answering the Critics of “Pay as You Earn” Plans

Tying the repayment of student loans to a borrower’s income is hardly a new idea. Conservative economist Milton Friedman proposed the basic concept in 1955, and so-called income-contingent loans (ICLs), or “pay as you earn,” plans have been championed by many liberals since. This has also given critics plenty of time to come up with […]

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