Vemo Education, founded in 2015, is a mission-driven educational technology company focused on expanding educational access for all Americans. The company partners directly with colleges, universities, and other educational providers to design, implement, and sustain income share agreement (ISA) programs to help increase educational opportunity and reduce financial barriers to economic mobility.
Purdue University launched the nation’s first ISA program, Back a Boiler, in 2016 and partnered with Vemo Education to design, launch, and sustain the program.
Since the 2016 launch, the Back a Boiler fund has distributed $5.9 million in ISA funding to nearly 500 students in more than 100 majors.
Purdue is just one of the many institutions that we work with and is able to clearly demonstrate the positive impact of student friendly payment options on college affordability. Over time as more and more students graduate, begin their ISA payments, and satisfy their ISA contracts, Vemo Education will be able to track and report data on their career outcomes to better understand the value of specific course offerings at each educational institution.
The company is possibly the only ISA company to partner directly with a college or university to build and launch an income share agreement program. “We are a leader in creating a tuition model that’s based on student outcomes to increase educational access and reduce financial barriers to degree completion,” says Callie Jacobs, Business manager at Vemo Education. As a result, they have partnered with over 30 universities, colleges, and skills-based training providers to launch income share agreement programs nationwide. Learn more.