Northeastern students: Income Share Agreements (“ISAs”) are a better alternative to student loans.

  • ISAs give you the flexibility to make the right financial decisions and manage unexpected life events.
  • Instead of paying a fixed interest rate, you only pay a fixed percentage of your salary and you only start paying your ISA once you land a job!
  • If you have a medical leave with no pay or you are laid off from your job or earn less than $30,000, no ISA payment is due.

Review the Edly ISA Program with our Student Calculator. You can calculate you payment schedule and see how the ISA stacks up to a private student loan!

ISA Features

ISA Contract
Student Loan

Flexibility

Payment amounts adjust with your income. If you lose your job or start earning below the minimum income threshold, payments are paused.

Fixed payment amounts (including interest) mean you have to pay in full regardless of what you may earn.

No interest accrual

Payments are based on a fixed percentage of your income so that you never pay more than you can afford.

Failure to make monthly payments – regardless of your employment status – can increase outstanding debt.

Repayment Maximum

Never pay more than a defined multiple, typically 1.5 – 2x the amount of tuition funded.

Students can end up owing well beyond 2 times the amount that they borrow.

More than a credit score

School employment data drives ISA contract terms, not your credit history.

FICO scores and co-signers determine whether you can avoid burdensome interest rates.

Payment Term

Students make payments over the course of a fixed window of time.

Repayment schedules are extended if payments are not maintained.

Our Mission

Many existing education financing options are regressive, expensive and punitive, often creating financial barriers to education. ISAs allow students to pay deferred tuition payments solely based on their income and ability to pay.

edly ISAs link the cost of education to the value it creates, incentivizing schools toward more responsible, student-centric behavior.

edly publishes its core principles in the hope that they will inspire the industry toward best practices that allow for ISAs to flourish as a driver of education affordability, accessibility and quality.

Process: How it works

  • Application

    Apply to see if you’re eligible. Application is a 1-minute form that will not affect your credit score.

  • Approval

    edly processes applications and returns to students with ISA contract terms.

  • Onboarding

    edly sets you up with your account servicer.

  • Funding

    edly provides tuition funding directly to the school on behalf of the student.