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Invest in your Future with an ISA

An Income Share Agreement (ISA) is a flexible alternative to a student loan. You will only make payments when you have a job. Rather than borrowing money, you commit to pay a fixed percentage of your future income for a set period of time. Payments will adjust with your income and will always be affordable!

How do I apply for an ISA?

Anyone is eligible to apply for an ISA. Please contact a school representative to apply.

What is an Income Share Agreement (ISA)?

An ISA is a contractual agreement in which you receive funding for your education. In exchange, you agree to share a fixed percentage of your post–graduation income over a defined period of time.

How is an ISA different than a loan?

Instead of paying a fixed amount of money each month with a loan, you’ll pay a fixed percentage of your post-graduation salary each month with an ISA.

How do I pay for my ISA?

Monthly payments are calculated by applying the income share to your monthly earned income. Every month you will go to the payment portal to report income, upload supporting documents, and make your payment. As default, once you report your income, your payments will be automatic each month.

What happens if I drop out of my course?

If you are eligible for a refund, the max number of monthly payments will be reduced in line with your refund. For example, if you are eligible for a 50% refund, your max number of monthly payments will be reduced by 50%

Is the ISA a loan?

No. Although some students may pay the full payment cap, others may pay less or even nothing, depending on their monthly earned income.

What happens if my income falls below the minimum income threshold?

If your income falls below $2,000/month, your ISA payments will pause. Your ISA payments will resume when your monthly income increases above the threshold.

What are the ways an ISA ends?

An ISA is completed when the first of any of these events occurs: i) You complete the required number of payments, ii) You achieve the payment cap, iii) The payment window ends.

Is there a way to payoff my ISA early?

Yes. You may satisfy your ISA at any time by paying the payment cap minus any payments you’ve already made with no penalty at all.

What are the risks to me?

If you fail to communicate your annual income or do not make necessary payments, then your account may become delinquent and eventually go into default. This can be avoided by maintaining communication and complying with the terms of your ISA contract.

Are ISAs a good option for me?

ISAs are flexible, innovative funding tools that provide students an alternative to traditional educational loans. ISAs adapt to life changes and do not add to debt burden. Your payments are paused if your earned income drops below $24,000/year (equivalent to $2,000/month). Additionally, once you have successfully made the required number of payments over the defined contract term, the obligation ends, even if your total payments are less than the ISA amount initially received.

Will I be required to pursue a specific career?

No! There are no requirements for the type of employment you choose after graduation.