Why income share agreements did not work out
Good riddance, when I first heard about this I was appalled.<p>It&#x27;s basically an extremely high interest loan, combined with bizarro access to banking records. Like for most of these ISAs if you couldn&#x27;t make the payments, they want it access to your bank account to see that you really couldn&#x27;t.<p>You have this really strange setup where if your income increases even marginally, the ISA kicks in. Lambda school, which fortunately also collapsed was notorious for this.<p>Student loans aren&#x27;t necessarily bad, they just need harder. Caps. Like federal loans are very reasonable, private ones are not.<p>Outside of attending medical school or law school, private loans are just a bad idea. On top of that, I think private loans are given out too willy nilly. Anyone can go to a bottom tier law school and take out $200,000 worth of loans.<p>A good compromise here would be to make private loans fully forgivable, but federal loans are a fantastic deal and help me improve my life.<p>40k in student loan debt, which is about the max you can take out federally for undergrad, isn&#x27;t bad.<p>Anything above 100k can easily be insurmountable, the interest just accumulates way too fast for most people to pay it off.<p>Then again, I never understood why lambda school needed to be so expensive. You&#x27;re not running a real school, there&#x27;s no reason you can&#x27;t just tell people to take a free class off YouTube, and then have them pay $500 or so to have a project graded. And maybe more adventurous companies would be open to recognizing that project as proof you&#x27;d be a good hire.