Stride Funding Changes its Income Share Loan Application Process
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Student borrowers can no longer apply for Income Share Loans (ISLs) on Stride Funding's website as of summer 2024. While the ISL program is still available, students must apply directly through a participating and eligible institution.
Stride encourages interested students to contact their financial aid or admissions office to see if they offer Stride programs. Stride representatives say there will be no impact to those who already have Stride loans.
Stride began offering ISLs in 2019 under the name AlmaPact. They are known for providing student loan funding based on a student's future income potential as opposed to their credit rating. This funding model allows students to obtain loans without a co-signer.
Stride also now offers Employer-Sponsored Loans. This program matches students with employers who vet and select them while conditionally committing to hiring them after graduation. Employers will then pay up to a certain amount of the hires’ student loans based upon the student being employed with them for a set period.
What now?
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¹Loans may be issued by Stride Funding, Inc or FinWise Bank, a Utah-chartered bank, Member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
