MentorWorks Launches $2M Income Share Agreement (ISA) Fund Empowering Students to Find Alternative Education Financing with their Unique ‘Fund and Support’ Model
BOSTON, MA, October 20, 2020
MentorWorks Education Capital, Inc. has created their inaugural ISA Fund specifically designed to give students access to completing their education with colleges and non-traditional programs and help them with their employment search and success – a unique “fund and support” approach.
MentorWorks Education Capital, Inc. announced today it has created a $2 Million Income Share Agreement (ISA) Fund dedicated to funding students at strong educational programs. This new ISA Fund bolsters MentorWorks’ capital investment side of the organization, where they partner with colleges, bootcamps, certificate, technical and vocational programs and make investments into their ISA programs.
“Our ISA Fund is the most recent step in the plan to fully enable our ‘fund and support’ model,” said Karthik Krishnan, CEO and co-founder of MentorWorks. “It is a strong signal of our capabilities in this space. Our investors recognize that our income-based financing model is a powerful solution to the ongoing student debt crisis in America. Our model is uniquely positioned to make a difference – we provide continuous, ongoing support to our students to help them succeed in getting a job and support them through early days in their career. This includes our online Talent Accelerator Platform (TAP), as well as the partnerships we have with employers.”
Current MentorWorks candidate Dawdu Mahama-Amantanah said, “The rising cost of higher education is ubiquitous. MentorWorks has given me hope to pursue a career that interests and inspires me without the financial burden of runaway student debt.”
“MentorWorks has been a critical partner in my career. I’ve been able to tap into a network of senior professionals that would otherwise be unreachable while being able to secure alternative funding with payback terms that have never limited my choices,” said MentorWorks alum David DeFronzo. “I’ve had help landing my dream job without even scratching the surface of all the resources available to a MentorWorks partner.”
“Through our platform, we have funded students who would find it hard to get loans and to engage with the social capital that our platform provides,” said Krishnan. “Many of the students we work with are diverse and are the first in their family to attend college or pursue additional education. We are continually energized by our mission which is to open pathways to education and careers for students and candidates who may not have had the financial or social capital to do it on their own.”
About MentorWorks Education Capital
MentorWorks Education Capital provides Income Share Agreement (ISA) financing which enables college and non-traditional students to complete their education without incurring up-front tuition costs. ISAs are an alternative to loans with which approved students will have their tuition paid and then will pay a percentage of their future income for a fixed period of time, up to a maximum cap, without incurring interest. Uniquely, MentorWorks also provides career development support, mentoring and access to employers through their online and asynchronous Talent Accelerator Platform (TAP).
To learn more about MentorWorks Education Capital visit: https://www.mentorworks.com or reach out to Micha Sabovik, COO, at firstname.lastname@example.org.
Follow MentorWorks Education Capital on LinkedIn at http://www.linkedin.com/company/mentorworksISA.