Young people graduating from colleges and universities in the United States face increasing amounts of debt. Some colleges however are now offering students another way to pay for their studies. They pay for a student’s education in return for a percentage of the student’s future salary. Norwich University in the state of Vermont announced Tuesday that it will become the latest school to offer this kind of contract. The contracts are called income share agreements. Norwich’s program is starting out small. It is mostly for students who cannot get other loans or those who are taking longer than the traditional eight semesters to finish their degree. Lauren Wobby is the school’s chief financial officer and treasurer. Wobby said, Norwich University is committed to offering this new way to help pay for college in a way that aligns incentives and helps reduce financial barriers to degree completion.
Title: Some Colleges Ask for Part of Future Salary Instead of Loans
Content: <div id='article-page'><div id='article-content' data-media-url='//news-app-staging.s3.amazonaws.com' data-base-url='//news-app-staging.herokuapp.com' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2697/7b914e22-724d-49c1-b7ff-3c009c5589e3_hq.wav' data-capture-url='//staging.analytics.lingraphica.com/events/capture_news' data-article-title='Some Colleges Ask for Part of Future Salary Instead of Loans' data-article-id='3254'><script src='//news-app-staging.herokuapp.com/javascripts/getscripts.js'></script><link rel='stylesheet' href='//news-app-staging.herokuapp.com/stylesheets/article.css' type='text/css' /><div class='article'><p><span data-start-time='0' data-end-time='10792'>Young people graduating from colleges and universities in the United States face increasing amounts of debt.</span> <span data-start-time='10792' data-end-time='19208'>Some colleges however are now offering students another way to pay for their studies.</span> <span data-start-time='19208' data-end-time='28438'>They pay for a student’s education in return for a percentage of the student’s future salary.</span> <span data-start-time='28438' data-end-time='40542'>Norwich University in the state of Vermont announced Tuesday that it will become the latest school to offer this kind of contract.</span> <span data-start-time='40542' data-end-time='45208'>The contracts are called income share agreements.</span> <span data-start-time='45208' data-end-time='49438'>Norwich’s program is starting out small.</span> <span data-start-time='49438' data-end-time='61354'>It is mostly for students who cannot get other loans or those who are taking longer than the traditional eight semesters to finish their degree.</span> <span data-start-time='61354' data-end-time='68333'>Lauren Wobby is the school’s chief financial officer and treasurer.</span> <span data-start-time='68333' data-end-time='85313'>Wobby said, Norwich University is committed to offering this new way to help pay for college in a way that aligns incentives and helps reduce financial barriers to degree completion.</span> </p></div><div class='control-buttons-sticky' style='display:none;'><div class='control-buttons'><button title='Back' class='back' disabled='disabled'></button><button title='Play' class='play' disabled='disabled'></button><button title='Pause' class='pause' style='display:none;'></button><button title='Forward' class='forward' disabled='disabled'></button><button class='finished-reading' style='display:none;'>Done</button></div></div></div><div id='article-media'><div id='media-image'><img src='https://news-app-production.s3.amazonaws.com/articles/2697/4C212E4C-7059-46F7-A9A8-74C63C11FCD3_cx0_cy2_cw0_w1023_r1_s.jpg'/></div></div><div id='question-content' style='display:none;'><div class='vocabulary_question question-container' data-question-id=11182 data-hint-location='19208' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2697/what_does_salary_mean.wav'>What does salary mean?</div><div class='choices' data-correct-choice='an amount of money that an employee is paid each year'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2697/an_amount_of_money_that_an_employee_is_paid_each_year.wav'><span>an amount of money that an employee is paid each year</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2697/a_political_party.wav'><span>a political party</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2697/a_type_of_food.wav'><span>a type of food</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2697/debt.wav'><span>debt</span></div></div></div><div class='multiple_choice_question question-container' data-question-id=11183 data-hint-location='0' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2697/young_people_graduating_from_colleges_and_universities_in_the_united_states_face_increasing_amounts_of_what.wav'>Young people graduating from colleges and universities in the United States face increasing amounts of what?</div><div class='choices' data-correct-choice='debt'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2697/success.wav'><span>success</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2697/living_space.wav'><span>living space</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2697/raises.wav'><span>raises</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2697/debt.wav'><span>debt</span></div></div></div><div class='sentence_completion_question question-container' data-question-id=11184 data-hint-location='40542' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2697/the_contracts_are_called__blank_.wav'>The contracts are called <span class='blank'>income share agreements</span>.</div><div class='choices' data-correct-choice='income share agreements'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2697/payment_plans.wav'><span>payment plans</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2697/income_share_agreements.wav'><span>income share agreements</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2697/loans.wav'><span>loans</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2697/consolidations.wav'><span>consolidations</span></div></div></div><div class='question-buttons'><button class='skip-button'></button><button class='hint-button'></button><button class='speak-button'></button></div></div></div>
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