Morning Education – Purdue Exploring Income Share Agreements
- November 30, 2015
- Posted by: Kerry Schneider
- Category: Back a Boiler, Income Share Agreements (ISAs)
By: Allie Grasgreen-Ciaramella
PURDUE EXPLORING INCOME SHARE AGREEMENTS: A foundation that supports Purdue University announced last week that it is working with a Virginia-based financial services group, Vemo Education, to explore the novel idea of offering students income share agreements, or ISAs, to pay for their college education. ISAs allow students to get money for college without amassing debt — by promising to repay an investor a set percentage of their income, for a set number of years, after they graduate and start working. The program would not replace government subsidized loans, but would be an alternative to private loans and PLUS loans, according to the organization: http://bit.ly/1lF2D9v.