For example, Avenify offers ISAs only for nursing students who graduate in the next 12 months. And Strides agreements can take up to 9.5% of your monthly income. Compare these functions to Clarkson University`s ISA, which is open to all students and reaches 6.2% of revenues. And income-participation agreements have less protection for borrowers than student loans. Tariq Habash, director of investigations at the Student Borrower Protection Center, said that while consumer protection legislation applies to these agreements, ISA providers say there is no real legal clarity because they are new and different. He said he saw the same thing with payday loans and feared that ISAs would use the weakest students. The Lumina Foundation announced in July that it was funding a study to measure the impact of several revenue participation programs, including programs offered by the University of Utah, Colorado Mountain College and the San Diego Workforce Partnership. As Vemo tries to enter with colleges regarding income-participation agreements, a former D.C.-Policy-Wonk is working to directly offer ISAs to students in a handful of Midwestern cities — Chicago, Milwaukee and Twin Cities. Kevin James, CEO of Better Future Forward, addresses contracts for low-income students on a short list of colleges with relatively strong academic results. 8B Education Investments is the first company to provide financing in the form of income-participation agreements to African students in global universities. Through this innovative financial instrument, 8B is helping to democratize world-class education for Africans.
Students attend universities they would not otherwise afford, universities diversify their international student population and investors get a return on the basis of student reimbursements. For a number of higher income participation agreements, the most exciting innovation to fund a university degree has been highlighted. A company that offers DSI SERVICES means that each student can apply to them and use these funds for each school, whether or not that school offers an ISA.