So you get into the college you have always dreamt of. You’ve spent most of your high school life deep in books. Yes, you worked hard and got the grades that would get you into an exclusive program. However, as the acceptance letter arrives, you realize you may not be able to afford the program.
As heartbreaking as that is, it is a reality for so many young people.
These young people or non-traditional college students still seize the opportunity to get into the program and take out loans. The idea is that they can earn more if they attend college and quickly pay that back over time. Although many note that the cost of college is rising across the board. It is getting harder to pay loans back due to other expenses as well.
Lingering Issues and Blair
Remember that this is a problem that has been around for some time now, and many have proposed solutions. The latest answer is that of income share agreements.
One of these startups tackling the rising cost of college is John Blair.
What is Blair?
The John Blair program for students provides more flexibility while learning. Blair is a fantastic program that supports not only your tuition but also your living expenses while you are at school. When students graduate, they get to pay back a percentage of their income for a fixed period.
Again, once you get a decent job, you pay back a percentage of your income. On top of this, the ISA payments come with a capped amount, and this ensures students who utilized the program do not pay more than they can bear.
For many students, high-interest rates can be a source of anxiety. But even then, you gotta do what you gotta do, right. Students must opt for a loan and waste a considerable amount of time looking for the least interest option. However, when it comes to choosing Income Share Agreements, students don’t have to think about loan repayments with massive interest once they graduate.
ISA’s and Adaptation
ISAs are about the future as they focus on how much you earn instead of requiring payments regardless of your financial situation. Remember that ISA’s differ based on the provider and may have different terms and agreements.
Typically, ISA repayments also always adapt to income circumstances. Most loan providers seek collateral or a co-signer on board with assets that can be seized should you not be able to pay back the loan. The agreements seem appealing, as it focuses on future potential and not on present circumstances. They may not factor in the income situation of the parents, collateral, or other components like loans.
The firm exists in an arena where you have traditional lenders and other ISA providers such as Vemo Education and Defynance, among other providers.
Signing Up For Blair
You can access the John Blair site and sign up to get your quote today. The site is live and caters to various demographics. It is essential to note here that when assessing a case, the company looks into your potential. This means if you are unable to find a job, you do not pay in that timeframe. No deferment charge will be added once you begin paying back your funds.
Students apply, get a decisions, and receive funds within days once approved. The corporation may even help students in landing an internship and helping students get started on their career. The company will even help students connect to the right mentors within their chosen sector to help them move forward on their path. The entity, takes it a step further by working with potential employers to help secure opportunities for their cohort. Remember that the company is small and will only start with a small amount of students before scaling up.
John Blair was founded by Constantin Schreiber, who himself opted for ISA. While he was studying in the US, he noticed and was alarmed by student debt. He realized that there was significant potential with this solution.
The company is relatively new, they’ve been around since late August 2019 and will have several years to prove themselves out.