Higher-education costs are rising, and graduates increasingly are burdened with student-loan debt many can barely repay — more than $1.3 trillion at last count.
Vemo helps colleges and universities set up “income share agreements,” a new tuition-repayment model that taps a portion of graduates’ future earnings to pay off the loans.
“Income share agreements are based on the value a graduate receives from college, freeing up students to explore career pathways upon graduation without undue financial pressure,” says Daniel Pianko of University Ventures, which led Vemo’s $7.4 million seed-funding round.
Route 66 Ventures, Third Kind Venture Capital, Haystack Partners and Task Force X Capital also participated.
Vemo helped arrange $23 million in income share agreements last academic year.
