Leif is a New York-based company that has developed an income-based finance platform for those seeking to receive a higher-education and need assistance with financial planning.
The company has an Income Share Agreement (ISA) platform that can be utilized by both schools and students. Schools are able to use the platform to implement and manager their own ISA. The platform also allows them access to solutions for financing their ISA and offers regulatory consulting so that the schools are up-to-date on financial regulatory guidelines.
Students can use the platform to finance their education through an ISA. Various educational institutions can work with students through Leif such as four-year universities and four-month coding bootcamps. They pay tuition once they have graduated and landed jobs that pay $40,000 a year or more. Students then pay 10% of that income for three years. Payments are adjusted according to the students' income and are not at risk for defaulting in case of unemployment.