What is an Income Sharing Agreement?
An Income-Sharing Agreement is a deferred payment; not a loan (which has principal and interest payments), nor is it a conventional tuition payment plan (which requires payment in full and may include interest charges). Deferred payment means you pay a small portion for Training Program or Higher Education as Upfront Fees and start paying the remaining amount once you finish the Training Program/Higher Education and receive an Eligible Job Offer. The deferred payment structure keeps into account our total fees, but also, you are paying ability depending on the income that you may earn from an Eligible Job Offer.
Importance of Income Sharing Agreement
Students those who are looking for new career opportunities, people who need more flexibility than loan and those who are not ready to commit 4 years to university; for those individuals ISA is the best platform to explore and go for higher education and training.
Unlike with a private student loan, Students will not have a fixed payment hanging over your head, ISA is made upon mutual terms and conditions. It gives you the freedom to study andneed to pay only when you have an income post- graduation.
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