- July 17, 2018
- Posted by: Kerry Schneider
- Category: Uncategorized
NORTHFIELD, Vt., July 17, 2018 /PRNewswire/ — Norwich University, the oldest private military college in the United States, today announced a new income share agreement initiative aimed at improving affordability, student retention, and degree completion. Beginning in fall 2018, Norwich undergraduate students will have the opportunity to opt into an innovative financing model in which they will pay reduced tuition in exchange for a set percentage of income after graduation over a set period of time.
As financial barriers and loan aversion continue to pose challenges for students’ college-going aspirations, persistence, and degree attainment, higher education institutions are turning to new strategies in an effort to expand access, increase affordability, and reduce the risk associated with paying for college. A growing number of colleges and universities have recently implemented ISAs as a new, student-centric model that aligns costs with outcomes.
“Norwich University is committed to offering this new way to help pay for college in a way that aligns incentives and helps reduce financial barriers to degree completion,” Norwich University Chief Financial Officer & Treasurer Lauren Wobby said. “The new Norwich ISA program has the potential to increase educational access and attainment for our students.”