What is the difference between a traditional installment loan and ISA?

Unlike traditional installment loans, an ISA is rooted in the student’s ability to make repayments on funding.

A traditional installment loan for Tech Elevator:

  • Fixed payment means you have to pay regardless of what you may earn
  • Rigid payment schedules force you to pay even if you don’t have a job
  • Require co-signer or high current income for students
  • 3-10 years

An ISA for Tech Elevator

  • Payments tied to income give you confidence that payments remain affordable, no matter your earnings
  • Pay nothing during months where you make less than the minimum income threshold
  • Stride ISAs do not require a co-signer for students
  • 48 month payment term (over a maximum of 96 months) for a the ISA Program