The cost of higher education and workforce training has skyrocketed and has become a significant economic challenge for our nation.
Which is why JFF on June 25 joined a bipartisan group of partners in sending a letter to key members of Congress asking them to pass legislation to create, scale, and regulate income share agreements (ISA). These agreements are an alternative model for financing higher education and training that ties the amount that students pay to the amount of money they earn after graduation. JFF believes that ISAs are worth exploring, particularly for students whose situations don’t fit the mold for federal financial aid programs.
At the same time, we recognize that there are risks associated with ISAs. This is why we believe it is vital that the federal government provide clear definitions, parameters, and consumer protections for students.
A postsecondary education is increasingly a requirement for jobs in our growing economy. ISAs alone are not going to solve that problem, but they are a piece of the puzzle worthy of thoughtful exploration.
JFF is pleased to have signed this letter, and we look forward to working with members of Congress to make higher education an attainable reality for more Americans.
