Student Debt and Income Share Agreements
Many Americans across the country are struggling to repay student loan debt, and many are dealing with unfair debt collection practices tied to student loans. Consumers with student loan debt vary widely in terms of age, with some debtors in their early 20s who recently graduated from college to older Americans who are working to pay off loan balances of tens of thousands of dollars—and sometimes much more—in student loan debt. While consumer bankruptcy rules could change to make it easier for people with student loan debt to receive a discharge in personal bankruptcy, until that point, people with student loan debt continue to struggle. According to a recent article in The New York Times , for some people, student loan debt might not even be the worst of it. Some people have what are known as “income share agreements,” or “ISAs.” For some student borrowers, this alternative to taking out additional student loans can be enticing. However, for some students, choosing an ISA over a ...