The Chronicle Review

The Yale Experiment

The surprising history of the idea that graduates' salaries should determine their student debt

AP Photo, Henry Burroughs

James Tobin in 1967
November 25, 2013

When Yale University announced in 1999 that it was writing off the remaining debt from its 1970s experiment in student-loan reform, the Tuition Postponement Option, it seemed to mark the end of an era. The TPO, as it was called, had allowed students…

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