" Income Share Agreements (ISAs) are an alternative method of financing higher education. Under an ISA, a student agrees to pay a percentage of their future income for a set period after graduation, rather than borrowing a fixed sum upfront. The exact percentage and duration vary depending on the agreement. One key feature of ISAs is that payments adjust according to income levels; if the student earns more, they pay more, and if they earn less, they pay less.
Other existing forms of education financing operate on a model that gives a fixed sum of money at the start of each academic year, and upon completion the student is expected to pay the principal plus interest over an agreed number of years usually 3-5 years. "