refundable upfront payment
Deferred Payments loan option
income share agreement
Completing your isa
ASk a question

Refundable Upfront Payment

  • Q
    Can I pay upfront instead of committing to a loan or an ISA?
  • A
    Yes, all new members of the Insight community can make a refundable one-time payment of $24,000 prior to the start of the program. Choosing to pay upfront comes with the same guarantee as the loan or ISA: you will receive a full refund if you do not accept an offer for a role earning at least $90,000 annually, and receive that offer dated within 6 months of the end of the program.
  • Q
    What are the benefits of paying upfront?
  • A
    Paying upfront results in significant savings compared to committing 12% of gross income for 2 years, and is still backed by the same guarantee as the ISA: a full refund if you do not accept an offer for a role earning at least $90,000 annually, and receive that offer within 6 months of the end of the program. The greater your income earned over the 2 years, the greater savings you would receive through the refundable upfront payment.
  • Q
    What payment options are available for the upfront commitment?
  • A
    The upfront payment can be made by industry-standard, secure payments that are supported by full integration with PayPal and Stripe. You may use any standard form of payment such as ACH, Debit, Credit Cards, or PayPal Credit.
  • Q
    Are there any additional fees or taxes?
  • A
    You will not have to pay any additional fees or taxes; the full payment amount is $24,000. Our payment service partners do charge a small transaction fee, but Insight will fully cover these transaction fees.
  • Q
    Will Insight collect or store any of my payment information?
  • A
    No, our upfront payment platform is fully supported by PayPal and Stripe using secure, industry-standard payment best-practices. Our payment partners fully handles all payment information and processes the payment. Insight never receives your personal payment information.
  • Q
    How would a refund work for the upfront payment?
  • A
    In the rare event that you leave the Insight community or don't accept a role earning at least $90K annually (and receive that offer within 6 months of completing the program), you will receive a full refund. We will work with you to provide the refund as quickly as possible, either through your original form of payment or by a different method of your choice. Please refer to our Membership Guidelines and Refund Procedures for additional details.
  • Q
    Is there written confirmation about the guarantee for the refund?
  • A
    Yes, anyone who completes the upfront payment option will receive explicit, written confirmation of their successful payment. Additionally, the guarantee that a full refund will be available if you don't accept a relevant offer for an $90k+ job, and that you must receive that job offer dated within 6 months of the end of the program is detailed in our Membership Guidelines and Refund Procedures
  • Q
    Is the guarantee affected by the current economic uncertainty?

  • A
    No, the guarantee that you will receive a full refund or have your loan or ISA cancelled if you do not accept an offer for an $90k+ job (and that you must receive that job offer dated within 6 months of the end of the program) will be upheld regardless of the economic situation. 
    ‍
    While full certainty in the economy is impossible, we are confident that our Fellows will continue to successfully transition into thriving careers. Our Fellows work in high-demand roles that continue to provide great value to their companies, and most of our hiring partners have adapted to interviewing and working remotely. Additionally, we've invested more in the post-program experience to help all Fellows make the most of every available opportunity, and we're confident that the vast majority of Fellows will start thriving careers that align with the guarantee.
  • Q
    Can I break the upfront payment into a few smaller payments?
  • A
    No, the full upfront payment needs to be paid prior to the first day of the session. Please reach out to us acceptances@insightfellows.com for help with your individual scenario.
  • Q
    I'm having trouble with payments from debit cards - can you help?
  • A
    We've received feedback from a few Fellows that some banking institutions require the use of ACH payments from checking or savings accounts, rather than using a debit card number. Please reach out to us acceptances@insightfellows.com for help with your individual scenario.

Deferred Payments Loan Option

  • Q
    How do I apply for a deferred payments loan? 
  • A
    You’ll need to complete your loan application with our partner, Climb Credit. All applications are paper-free and can be submitted from your computer, tablet, or phone. To get started, please visit https://climbcredit.com/apply/insightfellows. You can also view step-by-step instructions on our website.
  • Q
    How is a deferred payments loan different from an ISA?
  • A
    Like an income share agreement (ISA), you won’t have to worry about making payments during your program (and a few months after). However, there are a few differences:

    1. Through the loan option, you will owe payments after 9 months of $0 payments—but only if you have accepted a relevant job offer making at least $90K within 6 months of the end of the program (tracked as the date on the offer letter).

    2. Monthly payments are not tied to your income level, they are fixed every month and determined when you apply. You know how much you’re going to owe from the outset, and won’t see monthly payments increase or decrease with your income level.
  • Q
    What would my interest rate be? 
  • A
    The average interest rate for Fellows is 8.45%. Climb’s interest rates, which are always fixed, range from 7.45% to 14.45%, which means you don’t have to worry about your monthly payment amounts changing from month to month. What your rate ultimately depends on is your credit history, your state of residence, and any applicable laws and regulations.
  • Q
    Does interest accrue?
  • A
    Interest accrues in the 9-month period of $0 monthly payments, however interest does not compound.
  • Q
    How do I make loan payments?
  • A
    Payments are handled by Climb’s loan servicing partner, University Accounting Service. Through UAS, you can enroll in autopay or make manual monthly payments online or by personal check. Climb will also reduce your interest rate by 0.25% if you sign up for autopay.
  • Q
    Do I need a co-borrower to take out a Climb loan? 
  • A
    Having a co-borrower isn’t required, but you may end up with a lower interest rate if you do decide to apply with one. Adding a co-borrower can also increase your chances of getting approved.
  • Q
    Can I use this to cover living expenses?
  • A
    Living expenses are not available at this time.

Income Share Agreement

  • Q
    What is an ISA?
  • A
    An Income Share Agreement (or “ISA”) is an agreement between Insight and members of the Insight community. You commit to sharing 12% of your total gross income for 24 months as long as you accept an offer for a relevant job earning at least $90,000 (and receive that offer dated within 6 months of the end of the program). Please note that your total gross income includes pre-tax salaries and bonuses, but does not include forms of equity or stock grants.
  • Q
    When will I begin sharing my income if I choose the ISA?
  • A
    Assuming that you receive the corresponding offer before 6 months from the completion of the program, your payments for that role will not begin until 1) you have completed the program and start your position, and 2) You are earning more than $7,500 per month (representing an annual gross income of $90,000). Your first monthly payment will be due on the first business day of the calendar month after both items above have occurred.
  • Q
    How are my payments calculated?
  • A
    After completing the program and starting your job, your monthly payments will be your income share percentage (12%) multiplied by your monthly gross income. Since your monthly payments are indexed to your earnings, if you become unemployed, face salary reductions or other work-related financial hardships, your monthly payments will be commensurately lowered, or completely postponed if they fall below the monthly income floor of $7,500.
  • Q
    Can I see the full Income Share Agreement?
  • A
    Yes, please review the full ISA available on the Meratas platform. When you review the agreement, it consists of many industry-standard components including:
    ‍
    - Definitions of key terms used throughout the agreement
    - Reference to cancellation of the ISA through our Program Guidelines
    - Details on how your income is reported and verified
    - Details on how your monthly payments are calculated and processed
    - Potential actions in the rare event of missed payments or if we cannot reach you
    - Industry-standard legal protections for you, Insight, and Meratas

Completing your ISA with Meratas

  • Q
    How do I sign up for the ISA?
  • A
    You’ll need to complete your Income Share Agreement (ISA) on our platform. We’ve partnered with Meratas, an ISA service provider, that will help you manage your ISA (e.g. change contact info, process payments, track progress) throughout your 2-year commitment. To get started and complete the ISA onboarding process, please visit https://app.meratas.com/insightfellows. You can also view a video guide and step-by-step instructions on our website.
  • Q
    Why do I need to use Meratas to complete the ISA?
  • A
    Insight has partnered with Meratas to provide a secure, compliant, and industry-standard experience for Fellows who choose the ISA commitment. While the Meratas platform will help you manage your ISA, the ISA is only between you and Insight. While Meratas uses industry-standard terms and conditions in their agreements and disclosures, Insight has the right to fully cancel any ISA if needed. Please note that you will need to agree to Meratas’s terms of service in order to use their platform.
  • Q
    When I apply for the ISA, do I need to wait for approval before being eligible to participate in the Fellows Program?
  • A
    No, you do not need to wait for approval. Being accepted into Insight guarantees that you will be approved for the ISA on Meratas. If you choose the ISA option, you will need to complete your onboarding on the Meratas platform prior to joining Insight in order for you to manage your ISA.
  • Q
    Does Meratas run a credit report?
  • A
    As part of completing your ISA, Meratas may run a “soft” credit inquiry, which should not affect your credit score. While this is part of the standard Meratas platform, there are no credit score requirements associated with joining the Insight community.
  • Q
    What if I don’t have a Social Security Number? Am I still eligible for the ISA?
  • A
    Yes, you are still eligible for the ISA. If you do not have a Social Security Number, please contact our team at acceptances@insightfellows.com so we can override this requirement for you within the Meratas platform.
  • Q
    How does Meratas and Insight use my banking information?
  • A
    Meratas uses your banking information to validate your account and identity, and authorize automatic monthly payments once your income share begins when you start your role.

    We've partnered with Meratas as an ISA service provider since they provide industry-standard protections on sensitive data. For banking information, Meratas uses Plaid to securely and privately integrate with banking institutions. As a result, neither Meratas nor Insight will directly access your private banking information. Details of your financial history or transactions will never be used as a criteria for participation in Insight.
  • Q
    What is the 48-month payment window in the Meratas agreement?
  • A
    Meratas follows the industry-standard practice of allowing a payment window (i.e. 48 months) that is twice the number of monthly payments (24 months for Insight). While the vast majority of Fellows will complete their payments within 2 years of starting their new roles, this condition allows Fellows to completely pause payments to take leave or go on sabbaticals. If someone takes extended leave (e.g. to care for a family member) after starting a role that meets the guarantee conditions, then the ISA is time bound and will not extend beyond 48 months after the start of the role.

    In the unlikely event that a Fellow involuntarily loses their employment or their monthly income falls below $7,500, payments will be automatically paused. Insight will work with every Fellow in that rare situation to find and prepare for a new role, providing the same level of support for the rest of your career that we offer for your first role.
  • Q
    Why do I need to enter "References" on Meratas?
  • A
    Meratas asks for these references in the unlikely event that we cannot reach you (e.g. both your email and phone number change). These references are closer to "emergency contacts" than professional references. Insight will not contact any references as a requirement of joining the Insight community.