Purdue exploring new financial aid option for students
- December 15, 2015
- Posted by: Kerry Schneider
- Category: Back a Boiler, Income Share Agreements (ISAs)
From: USA Today
By: Megan Reed
Purdue University announced on Nov. 30 that the university is exploring the option of providing income share agreements (ISAs) to students as an alternative to traditional student loans.
Purdue has partnered with Virginia-based firm Vemo Education to research ISAs — agreements in which investors front a student money for college in exchange for a percentage of the student’s post-graduation income. These future payments would fluctuate with the student’s income after they graduate and do not carry a principal balance or interest.