How do income share agreements differ from traditional loans?
An example of an AI chatbot conversation about comparing income share agreements and loans.
How do income share agreements differ from traditional loans?
Income share agreements (ISAs) allow you to pay a percentage of your future income for a set period, while loans require fixed monthly payments.
What are the advantages of using an ISA over a loan?
ISAs can be more flexible since payments are based on income, which can be beneficial if your earnings fluctuate.
Are there any risks associated with income share agreements?
Yes, if your income increases significantly, you may end up paying more than you would with a traditional loan.
Can you give me examples of when an ISA might be a better choice?
ISAs might be better for students in high-cost programs or those entering uncertain job markets.
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