By: James Carter, a Special to Overdrive
It was called indentured servitude in Renaissance Europe, but today college graduates are willing to give up a portion of their future earnings for startup capital now. Several companies are offering aspiring entrepreneurs human capital contracts. These agreements allow high-potential graduates to start the business they’ve always dreamed of right out of college, as opposed to working a corporate job to pay off student loan debt.
The contracts generally require the recipients to give up a certain percentage of their future annual earnings for a specified time period. The terms and conditions vary between companies, but graduates unwilling to fund their business ideas with an American Express card or bank loan can look into these alternatives.