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