About Income-Share Agreements

Through ISAs, students pay what they can, learn, then pay the rest once they are earning.

Instead of taking loans to pay for fees, income-shares allow students to pay a percentage of their income on graduation to fund their learning program.

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How Income-Shares Work

Wanjiku cannot afford the tuition fees for her Data Science Program/Course at Coding School XYZ

Instead of paying Ksh 100,000 upfront, she gets into an income-share agreement where she gets to pay 10% of her salary for 24 months on graduation. Because an ISA is not a loan, she pays nothing if she does not get a job within that period.

She also will not pay above the payment cap of Ksh 200,000 in case she get a high-paying job. This is an example of a typical ISA though contract terms may vary from school to school and also based on the amount of funding requested.

Sample Income-Share Contract

Key Terms for Income-Shares

ISAs should be designed to protect students as much as possible while still being profitable to schools who take significant risk support deferred tuition.

The percentage of your salary that goes to paying back your deferred tuition once you graduate and are employed. Typically 5-15%.

The total number of months where you are supposed to make income-share payments. Typically 18-60 months.

Anyone earning below the monthly salary floor is not required to make an income-share payment that month. Typically around Ksh 24,000 or the lowest KRA income-bracket.

You might end up landing a high-paying job. To protect you we institute payment cap. If you hit the cap, your ISA is deemed complete even if your repayment term is not yet over. Typically the cap is usually 2-3 times the amount of tuition deferred.

An ISA is NOT A LOAN, therefore, if you do not get employed on graduation, you do not have to pay back anything. Thus, the minimum amount payable under an ISA is usually Ksh 0.

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