Educational income share agreements, which tie a student's loan repayment obligations to his or her future earnings, have risen in popularity over the past several years as an alternative to student loans. ISAs have also recently been the subject of significant attention and scrutiny, in large part due to an announcement in April by the United States Department of Education that it will experiment with federal support for ISAs.
This article describes the relevant features of ISAs, certain consumer compliance risks that may be associated with ISA contracts, and strategies to mitigate such risks.
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