Company co-founded by UCalgary prof finds success allowing for investment in post-secondary students

August 7, 2019

A for-profit corporation co-founded by an assistant professor at UCalgary has become the first of its kind to provide an alternative to student loans by allowing investors to invest in students as they would a business. Called Lumni, the company sees successful student applicants sign an income share agreement will typically see a student would agree to pay 10% of their post-education income for a fixed term—usually five to seven years. The Calgary Herald reports that a claimed advantage of the company is that if a student makes little income during the term of the agreement, they still only pay 10% and are not saddled with any debt after the agreement expires. Calgary Herald (AB)