Is a sure school linked to greater wage? Augustana School in Rock Island, Illinois, is among the many first prepared to cowl that guess for potential switch college students.
As reported Monday by Inside Greater Ed, Augustana School is the primary shopper of an organization known as Diploma Insurance coverage, which markets “American Dream Insurance coverage” and helps colleges assure a pupil can meet an anticipated wage post-graduation.
Particularly, the “earnings insurance coverage” will make up the distinction – for 5 years – between a graduate’s wage and the anticipated wage for somebody with their main.
Below this system, which is being piloted to the primary 20 switch college students who apply this summer season, every pupil should share federal tax returns with the corporate annually after commencement and after 5 years, the corporate pays any distinction between the scholar’s anticipated earnings, by main, and precise earnings, in keeping with the article.
If a pupil’s main was anticipated to ship a $60,000 job however the graduate earned $55,000 a 12 months, the earnings insurance coverage makes up the distinction in a cumulative lump sum of $25,000 on the finish of 5 years, in keeping with the article.