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What You Need to Know About Income Share Agreements (ISA's)

Given the economic implosion we are in right now and the likely need there will be for many people to go back to college or get other education without the funds to pay for it, ISAs may become WAY more common

What is an ISA?

An ISA or an Income Share Agreement is simply an agreement between the student and the college to help the student pay for school. When a student goes into an ISA with their college, they agree to receive money (borrowed money) from the college to fund their education, and in return, the student agrees to pay the college a percentage of their salary after they graduate, and most likely for many years to come. 

As your income grows, the amount you owe on your ISA will grow as well - the more you make the more you owe each month. 

Is an ISA a loan?

While an ISA is being presented by many colleges as a great “alternative” to a student loan, (note, ISA terms will vary from school to school.)

The bottom line is that it quite simply is a...

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Alternatives to Student Loans

As college expenses continue to rise, student loans are seen as the only financial option for many college-bound students. The problem is, the higher the tuition cost, the more students have to borrow. While student loans are a temporary solution to immediate financial assistance, borrowers are reminded they must be paid back, with interest.

It’s common for many students not to qualify for enough money to fully cover their tuition, where they’re forced to find another source of aid to cover it. While fear of debt can discourage students from pursuing college, a lack of money can keep them from finishing college.

Fortunately, there are financial alternatives outside of student loans to help pay for college tuition. The best part? The money awarded does not have to be returned.  

SCHOLARSHIPS

Scholarships are financial aid awarded to students that are specifically designed to cover college tuition and, at times, associated living expenses and study abroad...

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