INCOME ASSIGNMENT CONTRACTS: ARE THESE SIMPLY INDENTURED SERVITUDE CONTRACTS WITH A NEW NAME?

As undergraduate student debt continues to mount, there is an active search for alternatives to student loans. As a Wall Street Journal opinion piece noted, the average debt load for students graduating in 2015 was $35,000, the highest debt load per student to date.[1] The problem with an average is that some students will have less debt, but just as many students are carrying even heavier loads. Furthermore, the federal student loans market has created a bubble – investors have begun betting against the market due to its $1.2 trillion[2] in size and about $100 billion of federal student loans being in default, 9 percent of outstanding balance[3].