Republicans Sen. Marco Rubio of Florida and Rep. Tom Petri of Wisconsin introduced legislation Wednesday seeking to create a "pay it forward" model of education financing as an alternative to student loans.
The Investing in Student Success Act would allow individuals or organizations to give students money to attend college. In return, the students would pay back a portion of their income for a set amount of time after graduating. The proposal would be a risk for both the investor and the student, as neither would know the student's future income at the time of agreement.
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