Interesting approach. (And, conceptually, somewhat related to the federal loan forgiveness programs that view student loans as an investment in providers of needed skills to underserved populations, and to the NIH/NSF grants to graduate students for which payback stipulations consist of continuing to work in the field of study.)

It's an open question, of course, whether it will work as hoped. What is clear, though, is that our current system is not working, so I'm certainly in agreement that something new needs to be considered, and Mr. Smith, to his credit, is doing more than just talking about it.
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...pronounced like the long vowel and first letter of the alphabet...