The Independent Colleges and Universities of Florida (ICUF) today recognized the leading school-based educational Income Share Agreement (ISA) platform provider, Vemo Education, as a partner to help members utilize ISA programs to increase educational access, retention and completion.
Designed to expand access and increase affordability in higher education, school-based educational ISAs allow schools to fund part of a student’s education up-front in exchange for a fixed percentage of post–graduation income for a defined and finite period of time. Vemo Education’s team of data scientists and financial aid experts will work with ICUF member institutions to consider how ISA programs can serve as a tool to increase positive student outcomes.
“The value ICUF institutions bring to Florida communities can’t be overstated,” said Bob Boyd, President & CEO of ICUF. “ISAs offer another layer of funding to help break down barriers to education and expand opportunity to any person with the dream of a college degree.”
ICUF advocates for educational access, affordability, accountability and adaptability across its member institutions. With the same objectives in mind, Vemo Education has designed and implemented thoughtful and student-friendly ISA programs for a growing number of colleges and universities around the country, including Purdue University and the University of Utah. ICUF now joins other state college associations, including the Association of Independent Colleges and Universities of Pennsylvania (AICUP), in recognizing the potential of ISAs to reach those objectives and drive successful student outcomes.
“By aligning payment with student success, ISAs can help schools continue to build an outcomes-driven approach that prioritizes access and affordability,” said Tonio DeSorrento, co–founder and CEO of Vemo Education. “We’re excited to partner with ICUF members to help build strong education-to-employment pathways that provide economic mobility for students.”
The Independent Colleges and Universities of Florida (ICUF) association includes 30 nonprofit institutions which, like Florida’s public universities, are Florida-based and SACS-accredited, and offer secular degrees. ICUF’s member institutions enroll over 1/3 of students who attend 4-year universities in Florida and have a combined annual economic impact of over $6 billion annually. ICUF provides these institutions support and connects their students to financial aid resources, delivering necessary services to students, schools and the state. ICUF’s stated focus on increasing schools’ accessibility, affordability, accountability and adaptability guides the support it offers all students in pursuit of an independent education.