Have you heard about a new type of student loan?

Asked by bowlingcap
I've heard that as an alternative to traditional student loans, private banks are offering pay-based loans. Instead of paying a set amount of your loan after, you pay a percentage of your salary after you graduate. You do this every year until your loan is payed off. So if you lose your job, you don't have to pay until you get a new one. Have you heard of this? Do you have any information about it?