Augustana College, in Illinois, is piloting post-graduation income insurance for 20 students who transfer there by August 23, billing the program as the first of its kind in the U.S. The program promises students they will earn at least the average income for their academic fields for the first five years they work in those fields after graduating from Augustana. If they don't, they'll be paid the difference after five years. The insurance is offered by Degree Insurance, a company founded by a general counsel for former Illinois Gov. Bruce Rauner and an entrepreneur who founded a marketplace for charter flights.
