7 Best Income Share Agreement Schools in 2025

An income-share agreement (ISA) grants students college funding if they pledge to share some of their future earnings for a set period of time. The advantage is that they do not require interest payments, automatic monthly installment payments, or other strict payback plans that are common for student loans � especially when you don't have a job yet.

This is one of many types of financial aid, making it possible to attend college without depending on traditional student loans as much. There are many income share agreement schools that participate in this helpful college financing system.

What Is an Income Share Agreement (ISA)?

An ISA is a financial promise to share a fixed percentage of one's earnings with the lending institution (an ISA provider or the college itself) for a specific time period after graduation � once you've secured a job. Depending on the lender and ISA contract terms, there may be a minimum income threshold before you would expect to share your monthly income. These are also income-based repayment systems, which means borrowers may repay more or less depending on wages.

Low-income earners may not meet the income threshold, which would delay monthly payments until future income increases. Many ISAs do not require repayment until earnings reach about $40,000, but this varies by location and ISA contract terms.

How Do ISAs Work?

The ISA provides the necessary funding to afford college tuition, textbooks, fees, and living costs. The repayments are flexible � you won't have to worry about fluctuating interest rates, most have a repayment cap (or maximum repayment value), and there is always a set repayment term, unlike grants and scholarships.

This is one of several financing options you can use to attend a four-year university, technical degree program, coding bootcamp, or other training programs. You can even do this as a distance learner since most accredited online colleges that accept financial aid also accept ISAs.

List of Income Share Agreement Schools

Check out this list of reputable schools with income share agreements. Each college has academic accreditation and several worthwhile programs.

1. Lackawanna College

Lackawanna College has multiple ways of making postsecondary education more affordable. This includes ISAs, monthly automatic payment plans, employer deferment, and more.

The U.S. Department of Education also requires schools to issue a Consumer Loan Disclosure Notice, promising compliance with the National Student Loan Default System (NSLDS). As for ISAs, Lackawanna's repayment structure does not require any payments until a student's income reaches at least $20,000 per year.

• Estimated tuition cost: $9,075 per semester
• Accreditation: Middle States Association of Colleges and Schools (MSCHE)

2. Clarkson University

Clarkson University's ISA program involves annual tuition disbursements of $10,000 per year for a total of $40,000 for a bachelor's degree program. The repayment system depends on when students received each disbursement.

If you receive funding for your senior year, then you only repay 1.48% compared with a 1.70% repayment for freshman recipients. This university, located in Potsdam, NY, has a high graduation rate, and 97% of graduates find employment soon after finishing college.

• Estimated tuition cost: $1,993 per credit hour
• Accreditation: MSCHE

3. Messiah College

Messiah College provides a limited amount of funds for its students through its ISA program. This arrangement requires students to repay a fixed percentage of their income over a defined number of years, outlined in a contractual agreement.

The repayment phase finishes once a graduate reaches one or two goals: they complete the required number of payments or reach a payment cap. This means you can pay off the ISA faster with the second option by repaying larger installments when you believe you can budget for it after landing a high-paying job.

• Estimated tuition cost: $42,540 (total program cost)
• Accreditation: MSCHE

4. Robert Morris University

Robert Morris University (RMU) has an ISA program, the Colonial Success Fund, which grants $5,000 per year to qualified students. Although the tuition is higher than average, and this wouldn't cover the entire amount, it does supplement well enough to help students avoid student loans with variable interest rates. RMU also offers substantial scholarship awards, such as the Public Price Match Plus and the RMU Advantage Scholarship, providing $1,000 to cover textbook fees.

• Estimated tuition cost: $1,145 per credit hour
• Accreditation: MSCHE

5. Make School

Make School specializes in computer science training, offering a Bachelor of Applied Science degree in this field. While the tuition costs are quite high, this reputable program offers terrific results and grants ISA opportunities for most undergraduates.

There are also payment caps based on the income you make after college. The highest ISA payment level is 20% for graduates earning at least $60,000 per year.

• Estimated tuition cost: $113,078 (total program cost)
• Accreditation: Western Association of Schools and Colleges Senior College and University Commission (WSCUC)

6. Norwich University

Norwich University, a military college in Vermont, began offering ISA funding for undergraduates in Fall 2018. Many students use this program to train to become military officers and then use their salaries to repay the ISA while serving their country.

Norwich also provides other ways to lower or waive tuition costs through work-study programs and other benefits after completing the Free Application for Federal Student Aid (FAFSA).

• Estimated tuition cost: $250 to $500 per credit hour
• Accreditation: New England Commission of Higher Education (NECHE)

7. Colorado Mountain College

Colorado Mountain College (CMC) began its ISA, Fund Suenos (Dream Fund), in 2018. Its primary purpose is to offer financial aid to immigrant students through the Deferred Action for Childhood Arrivals (DACA).

Graduates must reach a certain income threshold before making repayments, and there is no interest tied to these funds. Although funds only reach $3,000 per year, CMC also has more affordable tuition rates than most of the other universities on this list.

• Estimated tuition cost: $208 per credit hour
• Accreditation: HLC

How We Rank Schools

Here is how we ranked these 10 schools. The universities that accept ISA payments hold reputable academic accreditation, have flexible repayment terms, and are open about how the process works.

• Accreditation: These universities undergo an extensive review of their academic programs by accreditation boards, such as HLC.
• Repayment terms: Schools must only participate in ISAs with fair and flexible repayment terms, including repayment thresholds.
• Transparency: Colleges must be clear about repayment expectations, how much they can receive, and any other specific qualifications for receiving ISA funding.

FAQs About Income Share Agreement Schools

Here are some frequently asked questions (FAQs) about ISAs. This section covers ISA reputability, repaying ISAs early, credit score implications, and more.

Can I Pay Off an ISA Early?

Yes, you can pay off an ISA early or with a large upfront payment if you have a flexible ISA. However, some fixed-rate ISAs will not permit ISA payments beyond a certain amount. If you are unsure, please consult your ISA provider to review the specific contract requirements.

Do ISAs Affect My Credit Score?

No, an ISA will not affect your credit score because it is not a debt instrument. While other loan programs will impact credit scores (because you can miss a payment), there is no way to do so with an ISA since payments come from your income automatically (as long as you meet the minimum income threshold).

Are ISAs Available for All Majors or Careers?

ISAs are not always available for every major, college, or career track. This is much more common in technology or medical fields, such as computer science, coding bootcamp graduates, nursing, engineering, and data science. ISA availability has expanded lately, so it is possible for more majors and degree programs to receive ISA eligibility in the future.

How Do I Know If an ISA Program Is Legitimate?

Most ISAs are reputable and honest, but like any other financial transaction, there is always the possibility of encountering a scam. If you believe you are working with an illegitimate ISA provider, then please notify the Consumer Financial Protection Bureau. There are also nonprofit watchdog groups that keep track of potential ISA scams, which you can find by searching the web.

Explore Affordable Colleges

We invite you to use Learn.org to explore affordable colleges and secure financial aid for any degree program. This includes ISAs, federal student loans, private student loans, and other means of education financing.