The Income Share Agreement (ISA) is an innovative economic support tool that allows students between 18 and 35 y.o. in disadvantaged conditions to attend training courses without bearing any enrolment cost.
Through ISA, the student - once his/her training course is completed – commits to return a small percentage of his/her income (about 10%) for a limited period of time (about 48 months) and, in any case, up to a maximum amount previously agreed.
In the event that the student does not find a job or his/her income is lower than the pre-established minimum amount, during the agreed repayment period, he/she will not have to reimburse the sum received.
What is the difference between the Income Share Agreement and a bank loan?
With a bank loan, you receive the financial resources to fully or partially cover the costs during the training course, and once you have completed your studies, you repay a fixed installment, consisting of the principal amount plus interests, regardless you found a job or not.
The Income Share Agreement, instead, allows you to repay the cost of the training course through a (small) percentage of your income, and for a limited period of time.
Until when will I have to pay?
You can interrupt the return payment upon one of the following conditions:
1. You have paid all the agreed installments
Once the pre-established number of installments have been paid, the ISA ends.
2. You reached the agreed payment limit
An overall maximum threshold for your refunds will be set for your protection. Once achieved, the ISA ends.
3. The maximum repayment period has expired
If neither of the above happens, once the repayment period is over, for example 48 months, the ISA will terminate in any case.
What happens if I can't find a job after my training course?
If you are not working, you don’t need to reimburse anything. If you earn less than the agreed minimum threshold, you won't have to repay anything anyway.
I don't want to bind myself because I'm afraid I don't have the possibility to repay.
If your income is lower than the pre-agreed threshold, you will not have to pay anything until this threshold is exceeded.
Can I enroll in other training courses? Can I go to work abroad?Yes, if you want to work abroad you will pay based on your foreign income. If you take another training course, the repayment period will be suspended until you are enrolled in the course.
What is Talent Venture?
You can apply to request the ISA for one of the eligible courses thanks to Talents Venture Platform.