Summary of No Tuition, but You Pay a Percentage of Your Income (if You Find a Job)

Looking for the article?
We have the summary! Get the key insights in just 5 minutes.

No Tuition, but You Pay a Percentage of Your Income (if You Find a Job) summary
Start getting smarter:
or see our plans




The cost of higher education in America compels many students to rack up crushing amounts of debt to earn a degree. In response, an alternative-model venture, the Lambda School, launched in 2017. According to journalist Andrew Ross Sorkin in this balanced overview for the general reader, the online vocational education firm does not charge students upfront tuition costs. Instead, graduates agree to fork over part of their income for a specified length of time after they land high-paying jobs. The idea elicits valid criticisms, but some see it as a creative way to close workforce gaps.

About the Author

Andrew Ross Sorkin is a columnist at The New York Times, and the founder and editor-at-large of DealBook.



In 2018, student loan debt in the United States reached an unprecedented $1.5 trillion, with the average borrower owing $22,000 by graduation. Silicon Valley capitalists are testing one possible solution by funding “Income Share Agreements” (ISAs), which involve deferred tuition. In exchange for paying no upfront costs, graduates who secure high-salaried jobs agree to pay back the cost of their education through income deductions.

In January 2019, the Lambda School start-up received $30 million in venture capital. The money will initially finance ...

More on this topic

Customers who read this summary also read

Second Chance
Who Profits from Amateurism?
Could/Should Jubilee Debt Cancellations Be Reintroduced Today?
How the American Economy Can Recover from the Coronavirus Pandemic
EU Recovery Fund

Related Channels

Comment on this summary