The Growth of the ISA Industry


Understanding the ascent of income share agreements.

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Signing up for an ISA program is a path to success.

ISAs are not a new concept; however, there has been little innovation and commercial success in the ISA space until recently. The economist Milton Friedman popularized the academic debate surrounding ISAs by proposing them as a better alternative to student loans. He argued that ISAs align the incentives of borrower and lender more efficiently to help borrowers increase their human capital. Even after Friedman's passing, his ideas remained largely academic as ISA usage was never sought-after in the United States. However, over the last five years, ISAs have exploded in popularity.

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Both the value of ISA originations and the institutions offering them have grown exponentially.

Schools administering ISAs work with third-party providers that provide servicing, and occasionally financing for the agreements. Because of the many benefits for ISAs, there has been an exponential increase in the number of schools offering ISA programs. This trend continues in sharp contrast to the ever-increasing student debt, which has now become the second largest category of consumer debt behind mortgages.

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Student debt has continued to climb and shows no signs of declining.

While our team at Mia Share has been working to provide our ISA program to new schools, we have noticed growth within the student body of our partner schools. We have seen a trend of both ISA applications and accepted students rise every month, which shows increasing levels of awareness about the benefits of ISAs. Do not hesitate to contact us to discuss more about the many ways in which our ISA program can benefit your school.

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Comparing Student Loans and ISAs


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Defining Income Share Agreements