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The current French system of higher education—and in particular its funding—has been criticized for a long time. Many reform proposals focus on increasing the contribution of students to the funding of higher education. While the national government and higher education institutions prefer ex ante reforms, academic debates highlight the advantages of ex post formulas. This article highlights four criteria—inadequate incentives, reverse redistribution, mismatch between beneficiaries and funders, and inequality of opportunity—that confirm the superiority of ex post funding systems. The intrinsic qualities of these funding systems have so far been neglected in French debates. Among these systems, this article promotes the formula traditionally known as the human capital contract or income share agreement (ISA). Adopted as a pilot project in Oregon in 2013, it is currently being widely developed across the United States. This article analyzes this funding system by looking at its principles, advantages, and feasibility in France. JEL classification codes: D63, H23, H52, I22