Pay Nothing Until You Start Working
Introducing the CareerStep Income Share Agreement—our most innovative funding source available.
What is an Income Share Agreement?
Not a Loan
An ISA is not a loan—which means no interest, no downpayment, and no debt. It is a payment deferment program where you agree to share a percentage of your income for a limited time.
Don't Pay Until You're Working
You don't pay a penny until you land a job paying at least $30,000 a year. If you can't find work or if your income is below $30K, your payments are paused.
Payments You Can Afford
Your monthly payment is just 12.5% of your income. As your income increases, your payments increase. You only make 24 payments or the maximum cap amount, whichever comes first.
Your ISA payments are complete when...
- You've made 24 payments
- You've paid a total of $8,500
- It's been 7 years since you finished your course, even if you haven't made any payments
Breaking It Down
As with anything new, An ISA can be a little confusing. We're here to answer any questions you have, but here are the numbers you should know:
No payments on your ISA until your income reaches $30,000.
Payments are 12.5% of your gross monthly income for 24 months.
The most you'll ever pay is $8,500, no matter how high your salary goes.
If you can't find work or stop working your payments are paused.
Because an ISA is not a loan, there is no interest ever.
Your ISA expires after 7 years, even if you've paid nothing.
By the Numbers: Calculate your ISA
An Investment in You
At CareerStep, we are committed to helping our learners change their lives—not just take a course. With the Income Share Agreement, we've put our money where our mouth is, we don't make a single penny until you've landed that dream job.
The CareerStep ISA is serviced by our partner Leif.
ISA is not a loan so there is no interest. ISA payments are based on your gross income, so the pay-back amount varies from person to person.
- You have to make at least $30,000/year before any payments start.
- If you end up making much more than that (woo hoo!), you’ll only pay up to the $8,500 cap.
- If you reach $8,500 before 24 months, you’re payments are complete!
The 12.5% calculation is based on your gross income, meaning before taxes.
Your ISA goes into effect as soon as you complete the final exam of your course and lasts up to 7 years from that day. You don’t start paying until you have a job that pays at least $30K, so you have time to take your certification exam and get hired (and we’re here for you all along the way)!
The ISA requires that you do a few things to validate your job status and income, including but not limited to:
- Report your job status.
- Report your monthly income.
- Submit your tax returns.
Our ISA program is serviced by Leif. As soon as you sign your Income Share Agreement, Leif will assume management of the collection, reporting, and other administrative aspects of the ISA. They will send you reminders to keep your information up to date, but part of your contract agreement requires you to self-report your income and job status, and to submit your tax returns for income reconciliation.
When you agree to the ISA, you will create an account on the Leif website. This is where you will go to report your income and job status.
Within 14 days of gaining access to your course (the day you gain access being day 0), you may choose to withdraw from your course. Your Enrollment Agreement will be rescinded (less a $50 application fee and any other shipping and handling fees associated with the course), and your Income Share Agreement is cancelled. If you should choose to withdraw from your course after the 14th day for ANY reason (non-compliance, dropping out, etc.), you will still be under obligation to fulfill the Income Share Agreement.
CareerStep Income Share Agreements are available to any learner who lives in the United States who are US citizens, US Permanent Residents, or DACA recipients.
You will need a bank account in order to qualify for an ISA, so you will need to open one.
The ISA contract requires you to connect whatever bank account you use to receive your income.
You will be required to submit your tax return to our partner Leif, but we are only interested in your personal income. If your spouse’s income is provided in the documentation, it will not be included as your earned income towards repayment.
ISAs are completely optional. We offer the ISA as a flexible, low-risk way to enable life-changing career growth, but we are happy to work with you in whatever way is best for your situation.
No. Once the ISA contract is signed and you begin your coursework, you must complete the terms of the agreement. However, you do have the option to pay the cap amount in full at any time.
The ISA begins the day you pass the course final exam (not the certification exam). From that day, we have 7 years to collect full payment. Full payment is either 24 monthly payments or the max cap amount of $8,500.
No. The ISA contract requires that you sign no other ISAs. We’re investing in you getting trained and getting a job. Once either your ISA is paid in full or the 7-year term is over, you can sign an ISA with another organization.
Payments are collected on the 1st of the month, and Leif provides 28 days to start as a grace period.