Many students rely on student loans as a way of covering college expenses and for many, loan repayments exceed their ability to repay, leading to financial distress or default. Income share agreements are an income-driven college financing option in which an investor provides a student with the funds required to pay for college and, in return, the student promises to pay a percentage of their income for a number of years after leaving school. These resources offer a better understanding of how, and for whom, income share agreements may work.
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26 Apr 2017
This final brief in a series about ISAs explores the current state of the income share agreement market and highlights opportunities and threats to expansion.
16 Sep 2016
This brief, the fourth in a series about ISAs, addresses evidence that suggests loan aversion may be especially prevalent among underserved and underrepresented students. The brief concludes that ISAs could provide an alternative to student loans—in particular, for loan-averse individuals whose views of student debt are determined primarily by negative experiences with debt among family and friends, thereby removing one key barrier to college-going for this population.
24 Aug 2016
This rubric, drawn from the expertise of leaders within the postsecondary Competency-based education (CBE) field, is designed to help CBE program leaders, their campus colleagues, and researchers describe key features of their CBE program.
16 May 2016
As higher education policymakers and advocates consider new federal measures of student persistence and completion, how do these measures “stack up” when data from actual institutions—particularly those that serve “post-traditional” students—are used to calculate them? This technical report uses data from 11 institutions to demonstrate the importance of including all students and all outcomes in measures of institutional performance.
6 Jan 2016
This third brief in a series explores high school students’ and parents’ perceptions of income share agreements (ISAs) as well as their decisions about how to pay for college.
3 Dec 2015
The second in a series about income share agreements, this brief addresses the likely impact of ISAs on how campus financial aid offices will award student aid and the implications of ISAs for campus reporting on student aid, drawing on expertise from financial aid officers and the National Association of Student Financial Aid Administrators.
3 Dec 2015
As Purdue University and other schools prepare to offer income share agreements (ISAs) to students, these new programs could put students in a sticky situation. AIR researcher Audrey Peek explains that if they don’t understand the tradeoffs of loans versus ISAs, students could end up replacing their federal loans with much more expensive ISAs.
30 Sep 2015
In this blog post, AIR scholar Audrey Peek explores income-share agreements (ISAs), a private form of financial aid that offers cash for college now in return for a percentage of students’ future earnings over a set time. Peek contends ISAs are an innovative way to pay for college that might benefit some students, but which aren’t likely to reach their full potential without fundamentally rethinking who they could serve and how funders are repaid.