Income Share Agreements (ISAs)
Looking for a different approach to funding your program?
MentorWorks offers a mutually reinforcing “fund + support” hybrid model combining an Income Share Agreement (ISA), which is a more flexible alternative to student debt, along with active career enhancement, and connections to employer partners, to help launch students toward a lifetime of career success through our online and asynchronous Talent Accelerator Platform (TAP).
ISAs are an innovative alternative to loans
Students pay a percentage of their future income for a set period of time, up to a maximum cap, without accruing interest. Unlike a loan, students do not pay until they find employment and reach the minimum income threshold. The payments adjust according to level of the student’s income – a true outcome-based model with downside protections. The obligation can be ended earlier by making early payments as listed in our early payment schedule. The ISAs are capped, so students know the maximum amount they would be paying back.
MentorWorks Income Share Agreements (ISAs) are issued by Blue Ridge Bank, N.A. Many of the students the ISA program works with are diverse and are the first in their family to attend college or pursue additional education. The MentorWorks team is continually energized by their mission which is to open pathways to education and careers for students and candidates who may not have had the financial or social capital to do it on their own.