Ask MyRichUncle to Pay for School
By Katie Dean
2:00 a.m. May 28, 2001 PDT
The rising cost of college tuition has many parents
wondering how they will
finance their children's education.
Fairy godmother? Bank robbery? Wealthy relative?
MyRichUncle claims to offer students an alternative method
of paying for
college. The site boasts a network of investors who will
help finance a
student's undergraduate or graduate education, and upon
graduation, the
student must pay the company a percentage of their income
for up to 15
years.
The MRU Education Investment supplements other grants,
scholarships or subsidized loans that students
receive to pay for
school.
Rate payments are determined by the type of
program the
student is in, the school they attend, the year of
enrollment,
work experience and other factors.
The company also plans to offer mentorship
opportunities for
students with MyRichUncle's network of investors.
http://wired.com/news/school/0,1383,43977,00.html
