A lot of young people face a double-bind. Graduating from college – especially getting a 4-year degree – is a big factor in upward mobility. But college has become incredibly expensive.

When we talked to her three years ago, Lauren Neuwirth was feeling the financial pressure. Midway through her education at Purdue University, she was out of money. Traditional financial aid wasn’t enough. She was considering joining the Army to pay for school.

And then she found out about an unusual payment option: an income share agreement. If she agreed to give Purdue a percentage of her future income for a set period of time, she could get the money she needed to finish school. The more she made after graduation, the more Purdue would get back.

On today’s show, how income share agreements work – with an update from Lauren, who graduated in 2020.