Student Protection

Protecting students against adverse outcomes is essential to our mission and our ISA program. Education Equity Fund, ISAs will always include the following protections:

Limit on Income Shared

The percentage you pay to EEF will never exceed 8 percent of your W-2 earned income.

Limit on Time Period of Payment

5 Year ISAs (60 months of payments) The obligation to pay on a 5 year ISA ends after 60 monthly payments or 90 months total, which ever comes first. This means that if you were to pay for 4 years but then be unemployed your ISA will cancel with no further obligation after 3.5 years of unemployment.

10 Year ISAs (120 months of payments) The obligation to pay on a 10 year ISA ends after 120 monthly payments or 180 months total, which ever comes first. This means that if you were to pay for 8 years but then be unemployed your ISA will cancel with no further obligation after 7 years of unemployment.

Limit on Income Level:

You will never make payments when you are earning less than $40,000.00 per year. EEF’s floor is based on 3 times the federal poverty level for a household of 1. Three times the federal poverty level in 2021 is $38,280. We round this up to $40,000.00.

Limit on Total Dollars Paid:

You will never pay more than 1.5 times the funded amount on a 5 year ISA. On a 10 year ISA you will never pay more than twice the funded amount.