The Lendorse Income Share Agreement (ISA) provides you with funding for your tuition fees, visa deposits or living expenses. In return, you provide a fixed percentage of your income over a fixed period of time.

Let's understand the terms:

• Funding Received = This is how much money you have requested from Lendorse to cover tuition fees & living expenses
• ISA % = The percentage of salary to be repaid to Lendorse from your future salary. The percentage is per month. E.g. if your ISA is calculated with a 9% rate, you pay 9% of your gross monthly salary back to Lendorse.
• Minimum Salary Requirement = The best part about our ISA's is that you don't have to start repaying until you meet the minimum salary requirement that we set for you.
• Number of Repayment Months = We set a fixed amount of time for you to repay, represented in monthly repayments.
• Lendorse Fee = The fee we charge for the administration of the financing as well as our ongoing mentoring and career support services. This is not something that you pay up front, but we do add it to your total ISA amount.
• Total ISA amount = This is the sum of the Funding Received and the Lendorse Fee.
• Repayment cap = You will never repay more than 2.5x the 'Total ISA amount'!

Here's an example of what an ISA might look like:Funding Received: EUR 9 000
ISA %: 9%
Minimum Monthly Salary Requirement: EUR 2 500 gross per month (before taxes)
Number of Repayment Months: 36 months
Lendorse fee: EUR 900
Total ISA Amount: EUR 9 900

Let's say this student earns €45k gross per year, which is €3750 per month. The student will share 9% of their gross monthly income (€3750*9% = €337.50) for 36 months. Their salary might change anywhere between these 36 months with promotions or pay rises, but for the purpose of this example, let's say it stays the same for 36 months. This student will contribute a total of €12 150 back to Lendorse.

Still have questions? Reach out to our friendly team, we can help walk you through it! You can reach us at contact@lendorse.com

With Lendorse's Income Share Agreement (ISA), there is no 'initial loan amount' to be repaid and there is no 'interest rate' like traditional bank loans and student loans. Instead, we form a mutual arrangement where you pay Lendorse a fixed percentage of your future salary over a fixed term. In return, we provide you with a one-time payment for your tuition, living expenses and support you through the Lendorse platform in finding employment upon graduation in Europe.

Whilst your future salary might change, there are two parts to our ISA's that do not: the percentage that you repay from your gross salary per month, and the number of payments you make to us.

This means that the amount of your monthly repayment will vary, depending on your salary at the time. If you earn more, your repayment amount will be higher. If you earn less, the repayment amount will be lower.

When you meet the minimum income threshold which is set by Lendorse. We will advise you of this minimum income threshold as part of your ISA conditions, and before you sign the contract. This is currently anywhere between €1500 - €3000 gross (before taxes) per month.

The ISA contract can only be exited in one of three ways:

1. Term: Your ISA contract will include a repayment term, specified in months. The number of monthly repayments that you make will reduce the total term remaining. E.g. if your repayment term is 12 months, and you have made a monthly repayment for 11 months, then your next monthly repayment will be your last. You will not be required to make any further payments and the contract will be satisfied. A monthly repayment is defined as; one repayment that meets your specified ISA salary % on a fixed date of the calendar month. If your monthly salary changes and no longer meets the minimum income requirement, the monthly repayments will pause until you meet the required minimum income requirement again. Please contact us at contact@lendorse.com if this is your situation.
   
   
2. 2.5x cap: We will never ask for more than 2.5x the initial funding amount that we gave you. E.g. if you received €10 000 from Lendorse, you will not be required to make any further payments if you've paid equal to the 2.5x cap, which in this hypothetical case would be €25 000.
   
   
3. Voluntary repayment: If you would like to voluntarily exit the contract before the above two criteria have been met (i.e you still have repayment months remaining and you haven't yet met the 2.5x repayment cap) you will be required to pay the difference between the amount that you have already paid, and the 2.5x cap. E.g: You received 10 000 EUR. You have already repaid 9 500 EUR and have 5 repayment months left. To terminate your contract early in this case, you would need to repay €15,500 (Calculated as: (10 000 EUR * 2.5x) - 9500 EUR). Please consider if voluntarily exiting your contract is the right scenario for you, as it can carry a significant financial impact. We recommend you seek the advice of a qualified financial advisor before you commit to any early voluntary contract exits.

You only make repayments during the time that you have an income. This means that if you lose your job and lose access to any disposable income, Lendorse will not demand any payments until you have a source of income again. Please inform Lendorse (contact@lendorse.com) in the above case and share proof of your termination in order to ensure that there are no misunderstandings.

In case you encounter this situation, please let us know via email: contact@lendorse.com. You don't need to fill in the form on our website once again. Our representative will contact you to discuss the details.

We believe in a future where all students have equitable access to education, no matter their financial means or their country of origin. For now, we exist to help an underserved market: those from developing & emerging countries who are studying in Europe.

Currently, we will only be able to consider applications where:

• You're studying either a STEM degree or an MBA in a European university
• You are completing a Masters degree (we don't currently fund Bachelor or PhDs)
• You have either received an admission letter from your university, or you are already studying
• You hold a passport from a non-EU country, that is considered a developing & emerging country by the IMF. Unfortunately this means that passport holders of these non-EU developed countries are not currently eligible: America, Australia, Canada, Japan, Hong Kong, New Zealand, Switzerland, Singapore, South Africa, South Korea or the United Kingdom.
• Your level of English is C1
• You have a European address, bank account and phone number
• You are below the age of 35 at the time of application

If you are unsure about any of this criteria, we still encourage you to apply.

We finance up to EUR 20 000 maximum per student. We currently do not have a minimum amount.

Our application is separated into four phases:

1. A short eligibility questionnaire (2 minutes)
2. An interview with one of our Lendorse student representatives (20 minutes)
3. A motivation survey (15 minutes)
4. A personality survey (10 minutes)

We are here to guide you through the application process at each stage. We will only progress you through to the next round if you are eligible. We will only be able to make a decision once you have completed the full application.

It depends on how quickly you complete it! See above for an insight into how the application process looks. Once we have a complete application from you, we will be able to communicate a decision within a week.

Successful Lendorse students will receive funding only once passing our KYC and Due Diligence. If you are working with a deadline, please let us know in the application stage. We will try to be as accomodating as possible!

No - an ISA is not a loan.

A loan has to be re-paid no matter whether or not you earn an income, are studying, or you take a holiday. In contrast, with Lendorse's Income Share Agreements, you only make financial contributions if you meet the minimum income threshold. You are not expected to make contributions if you lose your income or don't meet the minimum income threshold.