Q: What is an Income Share Agreement (ISA)?
Income Share Agreement (ISA) is a contractual agreement between investor (Edbridg) and a student in which a student receives education financing in exchange for commitment of fixed percentage of his/her future income over a certain period of time.
Q: Which nationalities do you providing funding for?
We provide financing to all international students. Though, we prioritise ones that are coming to study in the UK and Europe.
Q: Do I need co-signer or collateral to get my studies financed with Edbidg?
No, you do not need co-signer or collateral.
Q: What are the eligibility criteria to get financing with Edbridg?
The only eligibility criteria is that you must be admitted to a higher education institution on the programs of Master or MBA. After submiting your application we will also evaluate the soundness of your profile based on the documents that you will be required to submit, interview with one of the Edbridg's team member and other external sources.
Q: What are the amounts that I can take in an ISA?
With Edbridg ISA minimum amount of finacning starts at $2,000. The maximum depends on a student's need, any prior financial obligations and other factors, but it can go up to $50,000 or even more (on a case-by-case basis).
Q: How is an ISA is compared to a loan?
Income Share Agreement is not an interest rate instrument and it is much more flexible in terms of repayment as the installements will change depending on your income. You well pay less than with the traditional loan in the beginning of your career when you need money the most, and you will pay more than with the traditional loan when you need money the least further down you career path.
Q: Can I get ISA to finance my living expences?
We do finance tuition and living expenses, but we will prioritize students that need tuition financing
Q: When should I start my repayment of my ISA?
You will only pay us back, when you income is over a certain threshold (depending on a country, but 25,000 GBP/year in the UK, for example). If you work during your studies, and your income is above the threshold you will be required to do repayment installements.
Q: How is my ISA payback percentage calculated?
The payback percentage we offer is tailored to you. To do so, we assess variables provided in your application and external factors as well. This will ensure a unique credit model with the most competitive rates possible, without you needing to provide collateral or a co-signer.
Q: What happens if I stop earning at any time during my ISA repayment period?
If you momentarily stop earning or if you are earning below a certain threshold (25,000 GBP/year in the UK, for example), the payments will be postponed until you get back on your feet.
Q: What happens if I earn much more than expected? Do I have to keep paying for the end of my ISA payback period?
If your earnings become very high, there is always a cap to protect you from overrepayment (2.5x of what was borrowed). Beyond this cap, you will no longer be obligated to pay.
Q: How do I prove my income to calculate the repayment installement?
ISA is a contractual agreement that legally obliges you to submit your monthly payslips and yearly tax form on your Edbridg platform account.
Q: Will I get money directly on my bank account if I take an ISA with Edbridg?
If the purpose of the loan is for the tuition financing, we will wire directly to the university. If the purpose is maintenance and living expences , it will be deposited to your personal bank account in pre-approved terms (to be defined in the ISA terms).