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Rethink How You Pay for Nursing School with Income Share Agreements (ISAs)

This post is sponsored by Stride Funding.

12 percent, 26 percent, 31 percent—these are the growth rates projected for RNs, NPs and PAs over the next few years. From a hiring perspective, it’s never been a better time to be a nurse. Despite this excellent outlook and the near six-figure salaries for RNs, NPs and PAs, one wrench in the plan still exists for many aspiring nurses: How to pay for school.

In 2018, nursing students graduated with an average of $30,000 in nursing school loans, on top of an average of $30,000 of undergraduate debt. 70 percent of all nursing students graduated with some form of student debt, and nationally, there’s a $1.6 trillion student debt bubble, leaving young people paying off their education for more than 20 years at the cost of important life milestones and their financial futures.

This student debt crisis has its roots in the structure of education; as TechCrunch puts it, universities “are incentivized to be unaffordable” and “don’t have a direct financial interest in the outcomes of their students.” But it doesn’t need to be this way—one game-changing education funding model called Income Share Agreements (ISAs) offers a way to limit payments to only what graduates can afford.

ISAs are agreements in which a student receives an upfront payment for tuition and, in return, agrees to pay a fixed percentage of their future income for a set number of payments. To further protect against risk, ISAs also feature minimum income thresholds before payment expectations kick in (usually $30,000 or $40,000 per year), as well as caps on the maximum amount that can be repaid. Beyond expanding access to costly programs, the model crucially aligns student interests and success with the providers funding them, as ISA providers only succeed if their students do. For this reason, many ISA providers will even offer career-coaching packages for their customers at no charge. And while more and more fields are adopting this revolutionary new payment model, nursing is particularly well-suited given the secular trends supporting the field.

Not only do ISAs take the stress of repayment away with their flexibility, but they also allow recent grads to focus on their patients and finally set aside money for other life milestones. Without a mountain of student loans and monthly payments that barely cover interest, grads can focus on buying a car, saving for retirement, planning weddings, or buying a house—a goal CNBC has called “almost impossible with massive student loan debt.”

Stride Funding offers Income Share Agreements that allow students to finish payments in just five years, while ensuring they only ever pay a small, fixed percentage of income. They also offer features uniquely designed to support placement and career advancement for healthcare professionals in nursing and PA fields. Unlike traditional student loan providers and lenders, Stride provides individualized attention to each ISA applicant, ensuring he or she receives both an affordable higher education and the soft skills necessary to navigate future career opportunities.

Achieving a lifelong dream of saving lives shouldn’t come at the cost of saddling one’s own future with debt. With ISAs, nurses have the option to get a degree and focus on what’s truly important—caring for their patients and building the life (and savings) they dream of. To learn more about how a Stride ISA can fund your nursing education, visit Stride Funding—you can apply in under a minute!

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