Kenzie’s Income Share Agreements (ISAs) were designed to support, not hinder, your success.

Traditional student loans accrue interest over the life of the loan and the borrower is responsible for paying back both the principal balance and any accrued interest. Interest on student loans can also oftentimes be capitalized under certain circumstances, which can extend your payback time. With a student loan, you can be stuck making payments for the rest of your life.

Income Share Agreements are different from traditional student loans for a few reasons.

Our ISAs do not accrue interest and have a set term, so the longest you could be paying it back is 48 months. Unlike a student loan, you can defer payments on our ISAs at any time for certain life situations. ISA payments adjust in real-time so your monthly payment amount will decrease or increase with your income. If an ISA is not right for you we have several other payment options to fit your needs.

• ISAs do not accrue any interest

• ISAs have a set repayment term

• ISA payments adjust with your income

Chok Ooi, CEO

Chok Ooi, CEO

"We don't sell our Income Share Agreements to 3rd parties and we always try to educate our students about the difference in financial options with Kenzie Academy."

Down Payment

In an ISA, you pay $0 down to enroll in the Software Engineering program, and you pay no tuition until after you graduate.

Grace Period

After you’ve completed your Software Engineering program, you will have a 3-month grace period before the ISA repayment begins.

Repayment

Once you graduate and are making over $40,000 a year, you’ll pay Kenzie 13% of your monthly income for 48 months in a 96-month window, or until you reach the payment cap.

Interest

ISAs are interest-free. This is a major way an ISA makes your education more affordable.

Adjustments

Your monthly payments adjust in real-time. The percentage you pay is constant, but the amount you pay decreases or increases with your income. If your income falls under $40,000 at any point during your payment window, you won’t be responsible for making payments during that period.

Deferred Payment

You can also defer payment due to certain life circumstances. We understand raising kids, unemployment, and other pressing situations can pop up.

How Hybrid Income Share Agreements Works

Down Payment

With our Hybrid Income Share Agreement, you pay a $100 commitment fee, plus an $8,000 down payment, to enroll in the Software Engineering program. You won’t pay any other tuition until after you graduate.

Another perk of our Hybrid ISA: You save $2,000 on the cost of your program, and your ISA amount is $13,900.

Grace Period

After you’ve completed the Software Engineering program, you have a 3-month grace period before repayment begins.

Repayment

Once you graduate and are making over $40,000 a year, you’ll pay Kenzie 13% of your monthly income for 24 months in a 96-month window, or until you reach the payment cap.

Interest

Income Share Agreements are interest-free. This is a major way an ISA makes your education more affordable.

Adjustments

Your monthly payments adjust in real-time. The percentage you pay is constant, but the amount you pay decreases or increases with your income. If your income falls under $40,000 at any point during your payment window, you won’t be responsible for making payments during that period.

Deferred Payment

You can also defer payment due to certain life circumstances. We understand raising kids, unemployment, and other pressing situations can pop up.

Frequently Asked Questions

Why is Kenzie Offering an ISA Program?

Kenzie is committed to offering student-centric financing programs which make education a possibility for people from all walks of life. A Kenzie education prepares students to become marketable candidates, ready for a career in tech. We believe so strongly in our model we’re willing to invest in our students’ success.

Can I save money by paying my ISA off early?

You can choose to pay 1.75x the amount of tuition originally financed at any point to end your ISA contract obligation. For example, if you signed an ISA contract to finance $23,900, you could pay $41,825 to end your ISA contract commitment early.

What is the benefit of an ISA to Kenzie students?

With an ISA, your monthly payments adjust in real-time according to your income level, meaning they decrease or increase with your salary. During repayment, the ISA has a minimum income threshold, so if you earn less than a certain salary, you may not be required to pay anything back. If you end up earning a substantial amount of income, you will not pay above a certain maximum amount (the payment cap).

Additionally, the ISA allows you to defer payment due to certain life circumstances like raising kids, enrolling in another full-time educational program, or unemployment. During deferred payment periods, no interest accrues, unlike with traditional loans. Instead, you simply pause ISA payment, and add additional payment months once you’ve re-entered the workforce.

Does the ISA contract give Kenzie a say in my future employment decisions?

No. You, and you alone, maintain the right to make all decisions regarding your future employment. Through the ISA, you’re only committing to making monthly payments at a set percentage of your earned income for a set period of time.

How is an ISA different from a traditional student loan?

In a traditional student loan, a lender gives you money to pay the cost of tuition or expenses upfront. After you graduate, you’re required to pay back the original loan, plus interest, until the principle is completely paid off. This can take years or decades to complete, especially if you enter a deferment or forbearance period where loan interest continues to accumulate. Overall, student loans have more unpredictability when it comes to cap amounts and payment end dates, unlike an ISA.

Who is eligible for an ISA?

You must apply in order to get approved for the ISA program. This is part of Kenzie’s admissions process, and our Admissions Advisors will guide you every step of the way. You must be a US citizen or permanent resident to apply for an ISA.

Do I have to fully pay back the original ISA amount?

No. You are only required to pay a set percentage of your income each month for a set period of time. After completing each monthly payment over the set term, you are not required to make any additional payments.

What income is subject to the Income Share Agreement?

All of your income over $40,000 is subject to the 13% income share percentage. Income from side hustles, freelance jobs, and other revenue streams is counted in your total combined income.

When does my ISA end?

The ISA can end in three ways: 

  1. Hit the payment cap: As you make your scheduled payments, you may hit the payment cap. At that point, your payment obligation is over, even if you hit the cap before the end of your payment term.
  2. Complete the required payments: Your contract will define a required number of payments (payment term). Once you make that number of payments, you’re done. 
  3. Payment window ends: Your payments may pause due to a  life event like becoming a full-time parent. Your obligation ends at the end of the payment window of 96 months, even if you haven’t made the required number of payments.
If I leave halfway through Kenzie, am I still responsible for my ISA?

If you leave halfway through your enrollment at Kenzie Academy, you will still be responsible for partial to full payment of your Income Share Agreement. Like any educational institution, there is a refund based on the duration of your enrollment.

Not sure if an ISA will work for you?