With a PWA Income Share Agreement (ISA) you pay no tuition until you’re gainfully employed!
Pacific West Academy is now offering an Income Share Agreement (ISA) to students who are accepted to the Academy for its programs of instruction. ISA is a contractual agreement in which a student receives education funding in exchange for an agreed-upon percentage of post-graduation earnings paid to an PWA over a defined number of years after he/she has completed program.
Paying a fixed percentage of employment income for a fixed number of years will make sense for many students who do not have financial resources or do not wish to be burdened by school loan debts.
An ISA is a way to help make education more affordable for PWA students. It’s not a grant or a traditional loan. It’s an opportunity to complete an education without indebtedness. It is an investment in a student’s future earnings potential.
This is a no upfront payment and a no down payment plan. Those accepted for an ISA are selected based on PWA’s assessment of the candidate’s prospects for future success through gainful employment. Those accepted for an ISA are selected based on merit, standards for general acceptance and a completed application to PWA.
This plan ensures that PWA is motivated to provide high-quality training and placement services after course completion, ensuring that the student lands a job with competitive pay, allowing him/her to start paying back on the Income Share Agreement.
Important Benefits of ISAs
- ISAs are not loans. There is no principal amount, no interest rate, and no defaulting due to loss of income.
- Only soft credit checks are conducted, so the student’s credit does not get dinged due to an application for the ISA plan.
- Monthly payments based on pay after graduation. When the student lands a job, only then will he or she start to make monthly payments based on a percentage of income.
- Stop paying once you have reached the cap (payment amount). You are 100% free from any obligation to PWA once you have reached the maximum amount or the payment schedule ends.
Frequently Asked Questions
Who is eligible for an ISA?
Eligibility is not determined on the basis of prior income, sex, race, sexual orientation, religion, national origin or protected class. ISAs are only available to people who live in the U.S. who are U.S. citizens, U.S. permanent residents, or DACA recipients. ISAs are not available to individuals who already have an obligation to pay an ISA with another institution.
Will the amount a student has to repay grow through interest expense until payments are made or by an occasional underpayment?
An ISA differs from a traditional loan because students are not accruing interest on the total amount funded. However, most individuals in the program will pay more than the principal borrowed. The amount you are required to pay (Income Share multiplied by earned income) will only grow due to the growth rate of the amount of income the student earns, but the income share level percentage will not change over the course of the ISA.
What are the risks to students?
The amount of payment is based on income; so, if a student signs up for an ISA and earns a high income after graduation he or she may pay more to the fund than they would have with conventional debt. However, should a student not pay while gainfully employed, he/she may have the debt taken to collections.
What is the cap on total ISA payments?
Once payments have been made equal to the payment that is stated in the student’s ISA disclosure, no more payments are required.
How will students know if an ISA is the right option for them?
ISAs are among several options that are available for educational funding and should be chosen based on a student’s individual situation. Students should contact Pacific West Academy for a consultation to help determine what is best for their financial circumstances.
Our Students Say
I've been in Executive Protection here in LA since returning from a tour in Iraq in 2005. I think a lot of people who are interested in this field are under the misconception that being a cop, soldier or bouncer will give them all the tools they need to be effective in the EP field. Far from it. These jobs may provide a foundation but they don't provide a true understanding of the dynamics of Executive Protection. Your course was a good introduction to the ins and outs (and potential pitfalls) of EP work. Whether or not someone is new to the field or, like me, just trying to maintain perishable skills, I highly recommend this course.Don Los Angeles, CA
I just wanted to thank you for giving me the opportunity to attend your CPR course. I know your focus is primarily training bodyguards but as a mother of two I wanted to learn CPR 'just in case.' I never realized there was such a difference between CPR for adults and CPR for infants. I now feel comfortable that if something bad were to happen I have the ability to do CPR. Thank you again.Larissa Courpus Christi, TX
As a former law enforcement officer I thought I had a pretty good understanding of what it would take to be a good Executive Protection Specialist but it's a whole different ball game when you don't have the weight of a badge behind you. Although this course was basically fundamentals, I felt it helped bridge the gap between my experience as a law enforcement officer and the EP field. Although I had done a lot of similar range work before I found the firearms portion of the course work to be very professional and well executed and could see how this would be a great course for someone new to the field. Thanks for a great course.Josh Huntington Beach, CA
I just want to say thank you to ASC for everything. After I graduated I got a call from ****** Security about my interview that I had with them on the last day of school. They said that the skill set and training I received from ASC (along with my military background) place me far beyond the average person who applied for a job with their company. And because of that they want to hire me not as a security guard, but as a shift supervisor. I couldn't believe it. One of my fears about starting my career and security was that I would graduate from training and not receive any job offers. However since graduating ASC I've been offered two jobs (one as a supervisor and one as a guard) and the pay for both are great. The money I'm going to start making is way more than what I was before so for that I want to say thank you. It was because of you guys that my life changed course and now the possibilities are ever-changing. Be sure to pass my thanks to Connor, Omer, Ryan, Jake, Ian, Steve and the rest of the guys.Jovidean Sun Valley, CA