Research on Income Share Agreements Audrey Peek, American Institutes for Research

Overview Types Theory Primary and secondary Institution-related and independent Theory Shift risk away from students Align outcomes and financing Eliminate pre-determined debt amounts

The Bottom Line This is a nascent, diverse market. Evidence highlights the need for clear information and consumer protections.

Student Perceptions Students want flexibility and predictability. Some students are loan averse. Advising and consumer information are critical.

Policy and Practice ISAs might be considered estimated financial assistance. Reporting requirements don’t separate ISAs from loans. There are concerns about equity within and across institutions.

Unknowns Long-term student outcomes. How changes in federal lending programs could impact the ISA market.

Questions? apeek@air.org