WEST LAFAYETTE, Ind. (AP) _ The Purdue Research Foundation says it is finalizing a contract to pay for student tuition in exchange for a percentage of student income for several years after graduation.
Chief financial officer Brian Edelman said Tuesday the foundation is finalizing a contract with a partner firm to fund tuition. He said they are planning a pilot program with 100 to 300 students, who could get funding for the entire 2016-17 school year.
The (Lafayette) Journal & Courier (http://on.jconline.com/1LnSypM ) reports Purdue announced in August that it was looking for a partner for the agreements that would act as a student loan alternative.
Purdue's faculty senate questioned Edelman and the university's legal counsel on the planned program Monday. Biological sciences professor David Sanders said the program would be “gambling'' with students' future incomes.
