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ISA Eligibility Requirements (WGU)

×

ISA Eligibility Requirements

  • We must be able to confirm your identity.
  • You must have a high school diploma, recognized equivalent, or an alternative approval by School.
  • You must be enrolled or accepted for enrollment at School.
  • You have satisfied the completed credit requirement.
    • Note: For programs that are self-paced, have no more than 60* CUs to complete before graduation as certified by School. For programs that are not self-paced, be within four* academic terms of graduation as certified by School.
  • You have completed the Academic Activity Verification by accepting enrollment in School’s first academic term under the Income Share Agreement# as certified by School.
  • You have completed a FAFSA in the current award year as determined by the School’s financial aid office.
  • You have demonstrated unmet financial need as determined by the School’s financial aid office.
  • We must be able to confirm that you are not in default on a federal student loan as determined by the School’s financial aid office.
  • We must be able to confirm that you are seeking a bachelor’s degree.
    • Note: At this time, Students are not eligible for an ISA if they are enrolled in the following non-terminal programs: Bachelor of Science, Pre-Nursing; or the undergraduate portion of the following bridge programs: (1) Master of Science, Nursing-Education (RN to MSN), (2) Master of Science, Nursing-Leadership & Management (RN to MSN); or (3) Master of Science, Nursing-Nursing Informatics (RN to MSN). This information is certified by School.
  • We must be able to confirm that you are a U.S. citizen or eligible noncitizen.
  • We must be able to confirm that you are 18 years or older at the time of application.
  • You must be able to provide a confirmed social security number
  • We must be able to confirm that you have maintained a cumulative Satisfactory Academic Progress (SAP) in good standing (as certified by School).
  • You have completed Satisfactory Academic Progress (SAP).
    • Note: Students whose cumulative SAP is below 50% are not eligible for an ISA.
    • Students whose cumulative SAP is below the 66.67% required for good standing, but is at or above 50%, are placed in warning status for one academic term. Students with a warning status remain eligible for the first disbursement. However, the second disbursement would be cancelled if Student fails to reach good standing after the first academic term.

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ABOUT MENTORWORKS

MentorWorks Education Capital provides Income Share Agreement (ISA) programs, which enable college and non-traditional students to complete their education without incurring up-front tuition costs. ISAs are alternatives to traditional fixed payment installment loans with which approved students will have their tuition paid and, once employed, will make payments calculated to a fixed percentage of their income, for a set period of time, up to a maximum cap, without accruing interest. Uniquely, MentorWorks also provides career development support, mentoring and access to employers through their online and asynchronous Talent Accelerator Platform (TAP).  
MentorWorks is a U.S. Department of the Treasury certified Community Development Financial Institution (CDFI) that focuses on increasing affordable access to education. Community Development Financial Institution

INCOME SHARE AGREEMENTS (ISAs)

Income Share Agreements (ISAs) for Students Talent Accelerator Platform (TAP) for Careers ISA Student Loan Alternative for Educators Benefits to Employers and Hiring Partners Why ISAs are Attractive to Investors ISAs may be issued by Blue Ridge Bank, N.A.

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CONTACT US

MentorWorks Education Capital, Inc.
101 Arch Street, 8th Floor
Boston, MA 02110

Main Number: 617-829-2625

Toll-Free: 855-444-6038

Fax Line: 857-201-5567

Email Us: contact@mentorworks.com

 

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DISCLAIMER: This website is for informational purposes only and contains the opinions of various authors and contributors. The information on this website is in no way a solicitation of an offer to sell or buy securities or other financial instruments. Further, none of the information contained on this website constitutes a recommendation to invest in any securities or other financial instruments and is not intended to provide specific investment or financial advice. MentorWorks is not a financial advisor, a debt management or debt settlement company, a credit repair company, a credit counselor or a budget planning organization. You should seek a licensed or accredited professional for investment or financial advice. Also, no information on this website constitutes a binding contract nor agreement to finance students at any particular price.

×

ISA Eligibility Requirements

  • We must be able to confirm your identity.
  • You must have a high school diploma, recognized equivalent, or an alternative approval by School.
  • You must be enrolled or accepted for enrollment at School.
  • You have satisfied the completed credit requirement.
    • Note: For programs that are self-paced, have no more than 60* CUs to complete before graduation as certified by School. For programs that are not self-paced, be within four* academic terms of graduation as certified by School.
  • You have completed the Academic Activity Verification by accepting enrollment in School’s first academic term under the Income Share Agreement# as certified by School.
  • You have completed a FAFSA in the current award year as determined by the School’s financial aid office.
  • You have demonstrated unmet financial need as determined by the School’s financial aid office.
  • We must be able to confirm that you are not in default on a federal student loan as determined by the School’s financial aid office.
  • We must be able to confirm that you are seeking a bachelor’s degree.
    • Note: At this time, Students are not eligible for an ISA if they are enrolled in the following non-terminal programs: Bachelor of Science, Pre-Nursing; or the undergraduate portion of the following bridge programs: (1) Master of Science, Nursing-Education (RN to MSN), (2) Master of Science, Nursing-Leadership & Management (RN to MSN); or (3) Master of Science, Nursing-Nursing Informatics (RN to MSN). This information is certified by School.
  • We must be able to confirm that you are a U.S. citizen or eligible noncitizen.
  • We must be able to confirm that you are 18 years or older at the time of application.
  • You must be able to provide a confirmed social security number
  • We must be able to confirm that you have maintained a cumulative Satisfactory Academic Progress (SAP) in good standing (as certified by School).
  • You have completed Satisfactory Academic Progress (SAP).
    • Note: Students whose cumulative SAP is below 50% are not eligible for an ISA.
    • Students whose cumulative SAP is below the 66.67% required for good standing, but is at or above 50%, are placed in warning status for one academic term. Students with a warning status remain eligible for the first disbursement. However, the second disbursement would be cancelled if Student fails to reach good standing after the first academic term.