Last week, the California Department of Financial Protection and Innovation (DFPI) announced that it had entered into “a landmark agreement” with Meratas, Inc., a company that acts as a program manager of Income Share Agreements (ISAs) used to finance postsecondary education and training. The agreement includes the DFPI’s finding that ISAs made solely for the purpose of financing a postsecondary education are “student loans” under the SLSA.… Continue Reading
income share agreements
Dept. of Ed close to releasing proposal that would facilitate income share agreement programs at selected Title IV schools
By Heather S. Klein on
My colleagues and I have the privilege of advising numerous clients on income share agreements (ISAs), including universities, service providers, and institutional investors. So we were excited by reports that the U.S. Department of Education (ED) plans to publish a Federal Register notice for an Experimental Sites Initiative (ESI) that would facilitate ISA programs at Title IV schools.… Continue Reading
Letter sent to lawmakers urging Congress to pass legislation creating a legal framework for income share agreements
By John L. Culhane, Jr. on
Posted in Regulatory and Enforcement, Student Loans
A group of 20 education organizations and individuals have sent a letter to the leaders of the House Financial Services Committee and Senate Finance Committee urging Congress to pass legislation that would provide a legal framework for colleges and universities and other education providers to offer income share agreements (ISAs) to students. … Continue Reading