What is an Income Share Agreement?

By Erika Kotterer, Director of Admissions
May 29, 2019

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You’ve probably heard a lot of talk about Income Share Agreements (ISAs) lately. It’s been all over the news, with many students and institutions opting for ISAs in lieu of student loans. We often share how ISAs make education more accessible and affordable, but what does that really mean?

Allow us to clear up your questions about ISAs:

So, what exactly is an ISA?

In the realm of education, an Income Share Agreement is established when a school covers a student’s tuition upfront and sets up a contract for that student to pay back their tuition with a fixed percentage of their income (for a fixed number of years) after they leave the program. Students at Kenzie only pay back their ISAs once they make at least $40,000/year. Essentially, we don’t get paid until you do.

How do ISAs Make Education More Accessible and Affordable?

There’s no denying that the cost of education can be steep-- especially for those thinking of attending a traditional 4-year university. For many low-income folks in the U.S., getting approved for loans, grants, or having the ability to make incremental payments isn’t feasible. Because ISAs don’t require upfront tuition payments, those with lower incomes are provided with a form of equity that allows them to take that first step toward continuing their education and an amazing career.

Kenzie Academy students who choose a full ISA pay 17.5% of their monthly earned income for only 4 years. With a Kenzie ISA, once a student has fulfilled their obligation over the 4 years they've completed their education payments. We believe you shouldn’t have to have money to make money. That’s why Kenzie is proud to offer ISAs and invest in our students’ success!

Interested in using an ISA to fund your Kenzie education? Here are a few ways to get started:

  • Reach Out to Us - If you have questions regarding our Income Share Agreements, reach out to one of our Academic Advisors.

  • Learn About Opportunities for Part-Time Work - If you need to earn an income while attending Kenzie (even with an ISA), we have opportunities available for remote, part-time employment. Get more information about our program here.

  • Apply to Kenzie Academy -  Ready to start your career in tech? Apply for our Software Engineering, UX Engineering, or Digital Marketing programs now!

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Erika is the Director of Admissions at Kenzie Academy. She enjoys learning about technology and how it is going to change the world around us. In recent years, she has spent her time building sustainable tech ecosystems and has met with entrepreneurs around the Midwest to understand the problems they face to scale.  When she is not following the latest tech news, you can find her walking her dog Stella.