Introduction to Edly and income share agreements

Edly partners primarily with outcome-focused institutions, including coding bootcamps, vocational trade schools, and select graduate programs in high-demand fields like healthcare and technology. Unlike traditional lenders, Edly determines eligibility based largely on a school’s career placement rates and historical salary outcomes rather than just a borrower’s credit history. You can use the Edly platform to confirm if your specific program qualifies.

For many families and students, navigating the landscape of college financing reveals a significant gap between federal aid limits and the total cost of attendance. When savings and federal loans fall short, finding the right funding solution becomes critical. Income Share Agreements (ISAs), like those facilitated by Edly, offer an alternative model where funding is exchanged for a percentage of future income rather than a loan balance with an interest rate. However, because this model relies on future earnings, it is not available at every university or for every major.

Understanding which schools and programs are eligible for Edly funding is the first step in determining if this option is viable for your financial plan. This guide covers the specific criteria Edly uses to vet partner institutions, the types of programs that typically qualify, and how you can verify your school’s status. You will learn how to distinguish between eligible outcome-based programs and traditional degrees that may require standard private loans.

Context: Edly school partnerships at a glance

To understand which schools are eligible for Edly, it is helpful to first understand how Edly differs from a traditional bank or private lender. Traditional lenders typically offer “direct-to-consumer” loans, meaning a student at almost any accredited Title IV school can apply, provided they meet credit and income requirements (often with a cosigner). The lender’s risk is managed through the borrower’s credit score.

Edly operates on a partnership model focused on “outcome-based funding.” Instead of betting solely on a credit score, Edly and its investors are effectively betting on the quality of the education and the employability of the graduate. Consequently, Edly does not offer open enrollment funding for every college in the country. Instead, they partner with specific schools that have proven track records of placing graduates into high-paying jobs.

This model creates a curated list of eligible institutions. These schools typically share specific characteristics: they are often shorter-term, career-focused, and highly transparent about their job placement rates. This includes many non-traditional education providers, such as coding bootcamps, allied health programs, and aviation schools, alongside select private and public universities offering specific graduate degrees. If a school cannot demonstrate that its graduates consistently find employment at a salary threshold that supports repayment, it is unlikely to be an Edly partner.

According to Jason Delisle, a higher education finance expert, “The private market can and does innovate — offering options federal loans don’t, such as variable rates or targeted underwriting.” Edly’s approach represents this type of targeted underwriting, shifting the focus from the family’s past financial history to the student’s future potential.

Quick eligibility check: Is your school likely Edly-eligible?

Before diving into the specific requirements, you can use this quick checklist to assess the likelihood of your school or program qualifying for Edly funding. While this does not guarantee eligibility, it serves as a strong indicator of whether you should proceed with a formal verification.

• Is the program career-focused? (e.g., Coding, Nursing, Aviation, Data Science) – Yes/No
• Does the school publish job placement rates? (Schools with transparent outcomes are preferred) – Yes/No
• Is the program at a graduate level or a vocational certificate? (Undergraduate liberal arts degrees are less common) – Yes/No
• Is the school located in the United States? (International schools are generally ineligible) – Yes/No
• Is the curriculum designed for high-demand industries? (Tech, Healthcare, Engineering) – Yes/No
• Does the school already advertise Income Share Agreements? (Many partners market this option directly) – Yes/No

If you answered “Yes” to most of these questions, particularly regarding the career focus and high-demand industry, there is a strong possibility your program is eligible. Edly specializes in funding education that leads directly to employment.

If you answered “No” to questions about career focus or if you are pursuing a general studies undergraduate degree at a traditional liberal arts college, Edly may not be an option. In these cases, traditional private student loans or federal Direct Loans are likely the appropriate funding sources.

To know for sure, you must verify directly through the platform. The eligibility landscape changes frequently as new partnerships are formed and others conclude.

Edly’s school eligibility requirements

Edly’s criteria for onboarding a school are rigorous because the repayment model depends entirely on the student’s success. Unlike federal loans, which are backed by the government, or private loans backed by a cosigner’s assets, Edly’s funds are backed by the expectation of future income. Therefore, the school itself must meet high standards of performance.

While regional or national accreditation is the baseline for federal funding (Title IV schools), Edly looks beyond basic accreditation. They analyze institutional performance metrics. A school must demonstrate that its curriculum is up-to-date and relevant to the current job market. For traditional universities, Edly often looks for programmatic accreditation in specific high-earning fields (like ABET for engineering or CCNE for nursing).

The most critical requirement for an Edly-eligible school is a verified track record of student outcomes. Edly evaluates:

• Graduation Rates: The percentage of enrolled students who complete the program.
• Placement Rates: The percentage of graduates who find employment in their field of study within a set timeframe (usually 6 months).
• Starting Salaries: The average starting salary of graduates. Since ISAs have a minimum income threshold (meaning you don’t pay if you earn below a certain amount), schools whose graduates earn low wages are too risky for this model.

Because ISAs involve a deferred payment structure, Edly partners with schools that are financially stable enough to wait for revenue or stable enough to attract third-party investors. The school must be a going concern with no immediate risk of closure. This protects students from the chaotic situation of a school shutting down mid-program, a scenario that has plagued the for-profit sector in recent years.

It is important to note that these requirements protect the student as much as the investor. By filtering for schools with strong outcomes, the eligibility process acts as a quality control mechanism, signaling that the program has a history of delivering value to its students.

Schools and institutions eligible for Edly funding

Edly’s roster of eligible schools is dynamic, expanding as they vet new programs and contract as partnerships evolve. While there is no single static “master list” available publicly that never changes, eligible institutions generally fall into three distinct categories. Understanding these categories helps families identify if their school is likely on the list.

This is the most common category for Edly eligibility. These programs are short, intensive, and directly mapped to high-paying software engineering or data science roles.

Examples of typical partners in this space include:

• Holberton School: Known for its project-based software engineering curriculum.
• Tech Elevator: A coding bootcamp focusing on full-stack development.
• V School: Specializing in web development and UX/UI design.

With the persistent shortage of healthcare professionals, nursing schools and allied health programs are prime candidates for Edly funding. These programs offer high job security and predictable income floors.

Typical eligible institutions include:

• Accelerated Bachelor of Science in Nursing (ABSN) programs.
• Occupational therapy and physical therapy graduate schools.
• Medical trade schools offering certifications in sonography or radiology.

Flight training is expensive, and federal lending limits often do not cover the full cost of certification. Edly partners with aviation academies to bridge this gap.

Typical partners include:

• Major flight training academies (Part 141 schools).
• Wind turbine technician training programs.
• Heavy machinery and specialized vocational institutes.

Note on Availability: Partnerships are subject to change. A school listed as eligible in 2024 may update its funding options for the 2025-2026 academic year. Always use the specific lookup tool during your application window to confirm current status.

Eligible programs and fields of study

Even within an eligible school, not every major or degree path qualifies for Edly funding. Eligibility is often program-specific. A large university might be an Edly partner for its Master’s in Data Science, but not for its Bachelor’s in English Literature. This distinction is vital for students to understand before applying.

Edly funding is most frequently available for:

• Certificate Programs: Non-degree credentials, particularly in tech and trades, spanning 3 to 12 months.
• Graduate Degrees: Master’s and PhD programs where students have exhausted federal Stafford loan limits but have high earning potential.
• Upper-Division Undergraduate: Occasionally, funding is available for juniors and seniors in specific high-yield majors (STEM) who are close to graduation and employment.

The fields of study most likely to be eligible are those with a direct correlation to specific, high-demand job markets. These include:

• Technology: Software engineering, cybersecurity, data analytics, UX/UI design.
• Healthcare: Nursing, pharmacy, dentistry, medical assisting.
• Aviation: Commercial pilot licensing and flight instruction certification.
• Skilled Trades: HVAC, electrical, welding, and advanced manufacturing.

Edly is generally agnostic regarding the delivery format. Whether a program is online, on-campus, or hybrid matters less than the outcomes. Many of the eligible coding bootcamps and tech schools are fully remote, making Edly a viable option for online learners, provided the program maintains the required accreditation and placement stats.

Ineligible schools and program exclusions

To manage expectations and save time, it is equally important to know what Edly typically does not fund. The ISA model requires a predictable return on investment, which naturally excludes certain types of education that, while valuable, do not have the statistical income predictability required by investors.

• General Liberal Arts Degrees: Undergraduate degrees in humanities, arts, or social sciences at traditional four-year colleges are rarely eligible unless the student is in the final year of a specific high-placement program.
• Unaccredited Institutions without Outcome Data: New schools or programs that cannot yet prove their job placement rates are generally ineligible.
• International Schools: Schools located outside of the United States are typically not supported due to the complexities of international income verification and collections.
• For-Profit Schools with Poor Track Records: Institutions with a history of low graduation rates or high default rates on federal loans are excluded to protect students from predatory practices.

If your school or program does not appear on the Edly list, do not panic. This simply means an Income Share Agreement through Edly isn’t the right tool for that specific path. Most accredited schools are eligible for private student loans, which offer a more traditional path to funding. Additionally, you should always maximize your FAFSA eligibility for federal grants and loans first, as these are available at almost all Title IV institutions regardless of major.

How to verify school and program eligibility

Since eligibility can change, verification is a necessary step in the application process. You should not assume eligibility based on third-party articles or past years’ information. Here is the step-by-step process to confirm if you can use Edly funding.

Before checking, have the exact name of your school and the specific program handy. For example, “General Assembly” might be the school, but “Software Engineering Immersive” is the program. Eligibility can differ between a school’s part-time and full-time tracks.

The most direct method is to start an application on the Edly website. The first step of the intake form typically asks for your school.

1. Navigate to the Edly student portal.
2. Enter your school’s name in the search bar.
3. If your school appears, select it and look for your specific program in the dropdown menu.

If your school does not auto-populate in the search field, it is likely not currently eligible.

If you are unsure, contact the financial aid office at your prospective school. Ask them directly: “Do you partner with Edly or offer Income Share Agreements?” Financial aid officers have the most up-to-date list of approved third-party lenders and alternative funding partners.

Online verification is instant. If you need to contact Edly support or your school regarding a specific edge case (e.g., a new program at an existing partner school), responses typically take 2–3 business days. It is best to verify this early in your enrollment process, ideally 4–6 weeks before tuition is due.

Comparing Edly eligibility to traditional student loans

The selectivity of Edly’s model is a key differentiator from traditional student loans. While this selectivity restricts access, it also serves as a signal of quality. Here is how the eligibility landscapes compare.

Source: StudentAid.gov; Consumer Financial Protection Bureau

The trade-off for Edly’s no-cosigner, outcome-based approval is limited availability. Federal loans offer the broadest eligibility and strongest consumer protections (like income-driven repayment plans and forgiveness), but they have strict borrowing limits. Private loans fill the gap but generally require a creditworthy cosigner. Edly fits in the middle: accessible without a cosigner, but only if you are attending the “right” school.

If your school is not on the Edly list, you can compare rates for traditional private student loans below.

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Frequently asked questions

Yes, Edly frequently funds online programs, especially in the tech and vocational sectors. As long as the online school is an approved partner and the program meets the outcome criteria, the delivery method (online vs. in-person) does not disqualify you.

Generally, Edly focuses on private vocational schools, bootcamps, and universities. Community colleges are less common partners because their tuition is typically lower, making federal aid sufficient for many students. However, specific high-cost certification programs at community colleges could theoretically be eligible if a partnership exists.

This depends on the specific partner school’s agreement, but generally, Edly requires students to be U.S. citizens or permanent residents (Green Card holders). This is because the income share mechanism requires tracking income through the U.S. tax system (IRS) to calculate payments.

Edly evaluates and onboards new partners on a rolling basis. If your school is not currently on the list, it is worth checking back if you are deferring enrollment to a future term. However, you should not plan your immediate funding around the hope of a school being added mid-semester.

No. Edly contracts are tied to the specific institution and program. If you transfer from an eligible school to another eligible school, you would typically need to terminate the first agreement (subject to the school’s refund policy) and apply for a new funding agreement at the new school.

Finding the right funding is about matching your financial needs with your educational path. Edly offers a unique, outcome-oriented solution for students in high-demand fields who may not have a cosigner or who want to align their education costs with their future income. However, its selective partnership model means it isn’t an option for everyone.

• Selective Eligibility: Edly partners with schools that have proven job placement records, primarily in tech, healthcare, and trades.
• Program Specific: Even at eligible schools, funding is often restricted to specific majors or graduate programs that lead to high-earning careers.
• Verification is Essential: Always use the Edly lookup tool or contact your financial aid office to confirm current eligibility before relying on this funding source.

If you have confirmed your school is eligible, your next step is to review the specific terms of the Income Share Agreement. If your school is not eligible, or if you want to compare costs against traditional borrowing, viewing private loan rates is a smart move to ensure you are getting the best deal possible.

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References and resources

• StudentAid.gov – Official source for federal loan eligibility and accreditation data.
• Edly Official Website – Direct verification of partner schools.
• College Finance: Private Student Loans Guide – Detailed comparison of traditional lending options.
• College Finance: Understanding Income Share Agreements – Deep dive into how ISAs work.
• College Finance: Graduate School Funding – Options for advanced degrees.
• College Finance: Trade School Loans – Funding for vocational programs.