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$25,000 per year
Max. ISA Amount
Product Name | Stride Funding Income Share Agreement |
---|---|
Max. ISA Amount | $25,000 per year |
Max. ISA Term | 2 years |
Min. ISA Term | 10 years |
Requirements | US citizen or permanent resident, within 2 years of graduation from an eligible degree program |
Review by
Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.
Stride ISAs are ideal if you’re a senior undergraduate or a graduate student in a traditionally high-paying field and plan on taking a relatively low-paying job after you graduate. Instead of having high monthly repayments, you’ll only have to pay a certain percentage of your income — or none at all, if you end up unemployed or making less than $40,000 a year.
But it might not be a great choice if your goal is to make as much money as you can immediately after graduating. You’ll have to pay a higher amount if you end up at a high-paying job — though the rate itself would be the same as if you made less. And you might end up paying more than if you just took out student loans.
Still on the fence? See our list of private lenders that might be a better fit for you.
The only hard requirements to qualify for a Stride Income Share Agreement are that you must be a US citizen or permanent resident, and you must be graduating from an eligible program within the next two years. Unlike student loan providers, Stride doesn’t consider your credit score or current income.
Instead, your eligibility depends on the school you’re attending and your field of study. Stride focuses on helping graduate students complete a STEM, business or healthcare program — not including MD degrees.
A Stride ISA works by funding up to $25,000 of your cost of graduate school in exchange for a percentage of your income over two to 10 years. If you need more than $25,000, Stride can connect you with student loan providers CommonBond and MPower to pick up the slack.
You can find out if you qualify online by filling out a short form on Stride’s website. If you’re eligible, you can move forward with your application and review your offer before signing.
It depends on how much you make since your monthly payments are based on a percentage of your income. That percentage depends on several factors, including:
If you’re in a high-paying field at a school with a high graduation rate, you might get a lower payback rate than students less likely to make as much money or finish their program.
Yes, Stride has protections for students who end up earning too much or too little:
From its short terms to its payment protections, here are a few perks of working with Stride:
Consider these potential drawbacks before signing up for a Stride Income Share Agreement:
You can sign up through Stride’s website by following these steps:
After you submit your application, Stride will send you a quote. If you qualify, Stride sends over your ISA offer which provides complete details of your contract — including the income percentage and length of the agreement. From there you can choose whether to accept the offer and join the Stride community.
You only need to provide the following information on the application:
Formerly known as AlmaPact, Stride was founded by a Harvard business student, Tess Michaels. It’s one of a handful of companies that offer ISAs as a student loan alternative in the United States. In 2019, it acquired Base Capital, an ISA pioneer founded in 2014.
Not sure an income share agreement is right for you? Check out our guide to student loans to explore more ways to pay for college.