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Apr 04, 2017 09:11 AM EDT

A Brown University alumnus, Adam Braun, is introducing a new program that disrupts the current status quo of the higher education industry. Otherwise known as MissionU, the experimental college launches this fall and it deals with practicality and job security. For 12 months, students may study without any tuition fee.

However, the deal is to land well-paying jobs at rising companies like Spotify and Warby Parker. After the first three years of employment, 15 percent of their salaries will go back to MisionU. Indeed, Braun offers a study-now-pay-later type of higher education. This is actually timely as more students get consumed by monstrous college debts nowadays.

The 33-year-old Brown University graduate acknowledges the fact that college is a privilege not everyone gets. Meanwhile, per Smithsonian, Braun has already helped 400 schools in developing countries through Pencils of Promise launched in 2008. His latest pet project started accepting enrollees last month, Smithsonian reported.

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Basically, Braun believes that schools should invest in their students rather than the students investing in them. Besides, he added, the school' pride depends on the success of their graduates. In his project, he noted that the payment will only start once the alumni are already earning enough, about $50,000 or more. The collected money will be used to provide the same opportunity to the next enrollees.

Interestingly, if the student does not reach the $50,000 income quota, he or she does not have to pay anything for the experimental college. As of now, Braun and his team can only support up to 25 students this fall. Nevertheless, they have rolling cohorts that start every quarter.

To further illustrate, the experimental college will focus on career-based curriculum with the help of various partners from the business sector. The corporate partners advise about the syllabus while the college provides the future workforce of the particular company. Other participating firms are Uber, Casper, Harry's, and Birchbox.

Meanwhile, per CBS News, the College Board stressed that the average yearly cost of a four-year, in-state public school (no lodging and food allowance) in the US is $9,400. Housing requires another $10,000 annually. Of course, the expenses increase if the student does not finish his or her course on time.

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