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.

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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.

Pacific West Academy
16117 Covello Street, Van Nuys, CA 91406
Phone (818) 906-3753 or email info@pacificwestacademy.com