What are income share agreements and how do they work?

What are income share agreements and how do they work?

Income share agreements (ISAs) are contracts where students pay a percentage of their future income for a set period in exchange for funding their education.

What are the benefits of using an income share agreement?

The benefits include no upfront costs, flexible repayment based on income, and reduced financial risk if you don't earn a certain amount.

Are there any risks associated with income share agreements?

Yes, risks include potentially high repayment amounts if you earn a lot, and the possibility of long repayment terms.

How do I find institutions that offer income share agreements?

You can search online for colleges or bootcamps that offer ISAs, or check platforms that specialize in educational financing.

Can income share agreements affect my credit score?

ISAs typically do not affect your credit score directly, but failing to make payments could lead to negative consequences.