Clarusway Income Share Agreement (ISA)
The Benefits Of Income Share Agreement
No unnecessary financial risk
Attend school for no money down
Only make payments when you achieve career success
The Terms Of Income Share Agreement
Fixed percentage of pre-tax
Set number of payment
months 18 months
Minimum Income Threshold
Student doesn’t pay unless earning
The maximum a student
(obligor) all ever pay $20000
Maximum Deferment Period
ISA forgiven if reached
The Questions About Income Share Agreement
Key Takeaways About ISA
- Instead of paying tuition upfront, enrolled students may choose to sign an ISA.
- An ISA is a legally binding agreement representing a responsibility to pay Clarusway a portion of future income.
- ISAs are not a form of debt, nor are they a loan. They have no interest rate or principal balance.
- Students who elect the ISA option agree to pay 12.5% of post-Clarusway gross income (i.e., before taxes) with 18 monthly payments, but only when students are earning equal to or more than $40,000 per year.
- The ISA option is capped at a maximum of $20,000.
- If the student has earned less than $40,000 for a total of 60 months after completing the Clarusway program, their ISA is cancelled, regardless of amount paid to date.
- If students get a job before graduation, they are not considered withdrawn and their ISA will be due in full.
Who is Leif
Leif is our school’s ISA Program Manager. You will make an account on Leif’s platform to apply for your ISA, review and sign your contract, and eventually to report income and make payments. Read more details…