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Income Share Agreement (ISA)

You know you can afford your education with monthly payments based on your income after your education program. ISA is a legal contract between a student and Clarusway. Leif is our school’s ISA Program Manager.
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Income Share Agreement (ISA) Overview

Income Share Agreement (ISA) gives you the confidence to invest in your education.

You know you can afford your education with monthly payments based on your income. ISA allows you to pay back a fixed percentage of your monthly income after your program ends. You only pay when you exceed the minimum income threshold. Payments continue for a fixed number of months or until the total amount paid reaches a predetermined maximum.

The Benefits of Income Share Agreement (ISA)

No unnecessary financial risk
Attend school for no money down
Only make payments when you exceed minimum income threshold
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The Questions About The Leif Platform

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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 report income and make payments. Read more details

After graduation, when you start earning above the Minimum Income Threshold, you will make monthly payments starting at 7.5% of your monthly pre-tax income. Learn More

Your school will guide you to a secure application page tied to the specific program you are looking to attend. The application is all online and typically takes less than 5 minutes to complete and applying will not affect your credit score.
ISAs are designed to increase access to quality education. Consult with your school as to whether ISAs are a fit for you given their approval parameters. A co-signer is not needed.
Once you complete the program, Leif will work with you to verify your income. When you earn above the Minimum Income Threshold, you will make monthly payments through the Leif portal, starting at 7.5% of your monthly pre-tax income.
Because ISAs are not traditional debt, there is no set interest rate or accrued interest.
You will stop making payments once you reach the sooner of Qualified Payment Months or when you hit the Payment Cap (both will be written in the contract terms). You will never pay more than the Payment Cap and if you don’t earn $40K or above, your ISA will be forgiven after 5 years even though you paid nothing at all.
If you lose your job or earn below the Minimum Income Threshold, you will be placed into the Deferment Period and no payments will be due again until you are earning above the Minimum Income Threshold again.