An Income Share Agreement (ISA) is funding for higher education in exchange for a percentage of your income once you land a job. You don’t pay until you’ve graduated and your payments stay manageable since they’re linked to your income with a percentage.
All sorts of schools are joining the ISA game, including traditional 4-year colleges and universities, online-only educational institutions, and a variety of bootcamps and career training programs.
Programs that offer ISAs reduce the barrier to entry for students who can’t afford $15,000 to $20,000 upfront in tuition or can not get a personal loan, which means more diverse applicant pools.
Since the Bootcamp or program doesn't get paid unless you find a job, it gives them a strong incentive to offer a solid education. Income Share Agreements are typically offered for coding bootcamps and at some colleges but did you know that you can get an ISA to learn how to become a pipe welder?
In some cases, ISAs are available directly from your school, who partner with companies, such as Meratas, to administer and organize the ISA. Here’s a list of 6 schools that offer an Income Share Agreement option that you may not have thought of at first. (Please note these ISA statistics are as of February 2021 and are subject to change in the future.)
1. Product Gym
Product Gym is a 6-week Part-Time member association focused on training you to generate more Phone Screens, Onsite Interviews, and Offers. Product Gym was founded by a Technical Recruiter and Product Manager to arm you with the actionable insights you need to be successful. You need a team that understands what hiring teams look for currently to generate offers.
The core of what Product Gym does is that they train product managers on how to grow their network, develop their craft, generate more interviews, and land more jobs. The team is also committed to helping you stay up to date with the best PM practices and learning how to communicate what you learn in an interview. You only start paying back your ISA after you finish the program and you’re making at least $60,000. Check them and their Income Share Agreement out here.
Interested in Sales? 650+ members have been through Prehired’s Science-Based Sales® certification program, with 100s of testimonials. With their proprietary sales training curriculum, Prehired gives you everything you need to join the top 10% of software salespeople.
Their lifetime membership includes ongoing access to mentoring, live training, in-person conferences, content updates, the alumni community, and even job opportunities.
You pay back 12.5% of your income when you’re making at least $60,000. Check their ISA out here.
Curious about a career in Clinical Research? The Clinical Research Industry is estimated to be over $168 billion strong and growing fast. The average salary of a Clinical Research Coordinator is $57,000 and Clinical Research Fastrack can help you get there.
CRF is a program designed to land you a job in just 4 weeks. Not only will industry leaders teach you in the classroom, but you will also intern at a clinical trial site to gain real-world experience. Finally, the recruitment team will help you find a job and put you on the fast track to a career in Clinical Research. Check them out here.
Advanced Welding School is located in Walker, La., and specializes in equipping students with exceptional training and getting them hired– faster. Upon completing the fast-tracked curriculum only offered by AWS, graduates will be American Welding Society tested and become Certified Welders.
Advanced Welding School’s unique course format focuses on specific welding disciplines offering a portfolio of up to 16-course options at different levels in all of the four major disciplines. Their longest course is only 24 weeks. Check their ISA out here.
By 2025, there will be more openings for positions as a mechanic than working mechanics. U.S. Schools are producing only 20% of the mechanics actually needed. With hands-on training, ADTC is your pathway to a new career in under 3 months.
ADTC finds quality people, through a 300-hour program, equipping them with basic mechanical skills needed to successfully enter the profession and grow with their employer. ADTC values work ethic, attitude, and willingness to learn. Check out their ISA calculator to estimate your Income Share Agreement.
Alabama Pipe Welders Academy’s primary goal is their students’ success. They have a 5:1 Student-Teacher ratio, so you get more one-on-one-training. Their instructors have over 50 years of combined experience in the shipyard, pipeline offshore and land lay, power plants, construction, and the US Navy. They offer an ISA and have flexible financing & payment plans. Check them out here.
As you review these ISA providers, compare terms such as income threshold and repayment cap, just as you’d judge loans by their interest rate and repayment term. By looking at the income share terms, you can help ensure you land an ISA that makes sense for you. All of these programs are Meratas partners meaning that the application and ISA management process is easy for the program and the students themselves.
Meratas provides a full-service SaaS Platform for Schools and Skills-Training Courses to design, administer, and service custom ISA programs. We help institutions create impactful ISA programs designed to promote student accessibility and increase enrollment.
Our programs are intended to incentivize students, schools, and capital providers to work together to promote and finance only the best educational programs that lead to more successful careers.
If you’re interested in offering an ISA option at your school or program that has been proven to increase student enrollment, there's no better time to offer one than now! Click here to schedule a call with one of our ISA specialists and get your ISA program up and running today.
As you can see, ISAs aren't just for coding bootcamps! If you've been looking to get into a new career, whether as a software salesperson or a pipe welder, an ISA can be a great tool to unlock that career for you.
If an ISA sounds intriguing, take a look at some of the pros and cons. Interested in more ISA programs? Check out our student’s page for a full list of schools and programs offering an ISA through Meratas!