About Our Income Share Agreements

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.

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 $20,000, you could pay $35,000 to end your ISA contract commitment early.

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.

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.

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.

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.

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.

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.

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 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.