Ironically, income share agreements are increasingly being challenged on the grounds that they violate the 14th amendment (being rather close to the indentured servitude model).
I think the (optics) problem is that it's a "more obvious voluntary fractional slavery program". So it's easy to criticize. Of course, because it's a less obvious voluntary fractional slavery program, non-dischargeable loans are simultaneously harder to criticize and harder for people to see the trap they're walking in to.
I could be okay with income share agreements if they had a (short) time and percentage cap. Otherwise I feel like we'll have the same problem, students will sign agreements that they don't understand, and then end up paying for it for a large part of their life.
Is 10 years short? 20% for 10 years is what it would take for many computer science majors to pay for their degree. And that's ignoring the time value of the money.
I think the (optics) problem is that it's a "more obvious voluntary fractional slavery program". So it's easy to criticize. Of course, because it's a less obvious voluntary fractional slavery program, non-dischargeable loans are simultaneously harder to criticize and harder for people to see the trap they're walking in to.