MentorWorks Partnership Offers Flexible Student Loan Alternative

May 28, 2020

Benjamin Franklin Institute of Technology is proud to partner with MentorWorks Education Capital to offer a flexible alternative to student loans: Income Share Agreement (ISA) financing.

Through the ISA financing program, students pay a small percentage of their future income for a fixed period of time, up to a maximum cap without incurring interest. Students do not pay unless they find a job and reach the minimum income threshold.

ISA payments adjust according to levels of income
Monthly payments are calculated by applying the student’s income share rate to their total monthly earned income
ISA obligations can be ended earlier by making early payments, reducing the overall cost to the student

ISA Includes Career Mentoring

MentorWorks’ ISA financing program differs from many other ISA programs because it also includes a career services component. Funded students have access to MentorWorks’ career mentors and employer network, enhancing services offered by BFIT’s Career Services office. This support structure reduces students’ net financing costs and helps them find jobs more quickly upon graduation.

Students who meet the program’s standards and return as mentors earn repayment discounts and continue to access MentorWorks’ professional networks for their professional lifetime.

Use the Calculator to directly compare a MentorWorks Income Share Agreement (ISA) with existing student loan options:

BFIT-MENTORWORKS CALCULATOR