Skillsvest provides comprehensive funding for talented students pursuing degrees at top global universities through an Income Share Agreement (ISA) model. This approach eliminates collateral requirements and aligns repayment with post-graduation income, ensuring students can focus on their academic and career development without upfront financial burdens.
Funding
Funding not disclosed
Founders
Product
Problem
Talented students seeking higher education at global universities often face significant financial barriers, including tuition and living expenses, which can prevent them from accessing world-class educational opportunities. Traditional financing methods may require collateral or impose restrictive repayment terms, limiting students' ability to focus on their academic and career development.
Solution
Skillsvest provides comprehensive funding for tuition and living expenses to high-potential students pursuing degrees at top global universities. The company utilizes an Income Share Agreement (ISA) model, specifically an IRR-Capped Income Share Agreement (IC-ISA), which aligns repayment with post-graduation income. This approach eliminates the need for collateral and ensures that students can concentrate on their studies and career advancement without upfront financial obligations. Skillsvest's model is designed to be mutually beneficial, with repayment structured as a percentage of income above a cost-of-living threshold, capped by an Internal Rate of Return (IRR) of 19-25%.
Target Audience
The primary target audience is talented students globally seeking financial support to attend top-tier universities for higher education.
Features
- Full funding for tuition, living expenses, and career support for students attending top global universities.
- Income Share Agreement (ISA) model with no collateral requirement from students.
- IRR-Capped Income Share Agreement (IC-ISA) structure, with repayment tied to post-graduation income.
- Repayment percentage is based on income earned above a defined cost-of-living threshold.
- Internal Rate of Return (IRR) for repayment is capped between 19% and 25%, with lower rates for candidates with stronger employment prospects.
- No repayment obligation in cases of unemployment or if the target IRR is not met within six years post-graduation.
- Students typically repay 1.4x to 1.55x the borrowed amount for one-year and two-year master's programs, respectively.
- Option for early repayment without penalty.