Education

Income share agreements get a rebrand—and new life

From Work Shift: “ISAs, once the purview of bootcamps and other for-profits, are starting to take off among state governments and nonprofits under the new name of outcomes-based loans. … Last year, New Jersey Governor Phil Murphy announced an unprecedented state initiative for higher education. He called it a Pay It Forward Fund, a pot of money that gives interest-free loans to students in certain training programs that they then pay back at a rate tied to their post-graduate income. If they make less than a certain amount—$44,940 for those with a three-person household—the student borrowers are off the hook for the loan.”

View the full article from Work Shift.