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:
Here's an example of what an ISA might look like:Funding Received:
- 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'!
EUR 9 000ISA %:
9%Minimum Monthly Salary Requirement:
EUR 2 500 gross
per month (before taxes)Number of Repayment Months:
36 monthsLendorse fee: EUR
900Total 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 firstname.lastname@example.org