Word on the street is that this is impossible because slavery is not legal.
It is legal, but to use econolegalese, after paying for the student’s education what you have is an uncollateralized claim on part of future earnings which e.g. could be discharged through bankruptcy and which you might have trouble enforcing if the former student tells you to go jump into the lake.
It is legal, but to use econolegalese, after paying for the student’s education what you have is an uncollateralized claim on part of future earnings which e.g. could be discharged through bankruptcy and which you might have trouble enforcing if the former student tells you to go jump into the lake.