SACRAMENTO, Calif. – The California Department of Financial Protection and Innovation (DFPI) today announced it had signed a landmark agreement with New York-based Meratas, Inc., a company that partners with educational institutions to offer students Income Share Agreements or ISAs to finance post-secondary education and training.
The agreement reflects the Department’s decision to treat these private financing products as student loans for the purpose of the California Student Loan Servicing Act (SLSA). The move represents a significant first step toward providing greater oversight of the ISA industry.
View this content by subscribing
Please register to unlock this content
I already have an account. Log in
