Income Share Agreements & Career Mentorship: The Perfect Complement
In our previous blog, we talked about how the features of income share agreements make them a smarter alternative to traditional student loans. On a high level, the key component that makes income share agreements a fantastic alternative is that there is an alignment between you and your financier. If you were to find good and a high paying job, your investors will also do better – plain and simple. This alignment means that your financier has a vested interest in your career success, unlike traditional student loan providers, where you are legally bound to make payments, whether or not you can afford it.
Schools like Purdue University are seeing value in this. Their Back-a-Boiler program shows they are willing to bet that the education they provide will bring them higher returns in the long run. While income share agreements demonstrate a fantastic leap forward to education financing (and perhaps easing the student loan bubble), we at MentorWorks take this concept a step further. We do this by providing students a network of career mentors, ensuring that students are given proper career guidance and insight for an increased career potential.
You may be thinking, why would you spend extra resources on people that will pay you back? It’s important to think about income share agreements like business investments, except these are actual people you are investing in. Like a business, you invest money and time to make sure it succeeds. People are no different.
Get more information on MentorWorks’ Income Share Agreements and how to Apply.