Global Coalition Launches First Standards for Excellence in Outcomes-Based Education Finance Across 24 Countries and 5 Continents

New framework for common reporting establishes shared expectations for student protection, transparency, and outcomes as the field moves toward responsible global scale

Existing and future programs meeting this high bar will be a part of creating a sustainable model for economic mobility for low-income youth across the globe

NAIROBI, Kenya, June 11, 2026 /PRNewswire/ -- Organizations financing tertiary education across 24 countries today launched the first global standards for outcomes-based education finance — a field that has already backed more than 52,000 students and deployed over $717 million worldwide.

Unveiled by the Global ISA Alliance at its annual Global Convening in Nairobi, the framework establishes shared expectations for student protection, transparent outcomes reporting, and responsible growth across providers in Africa, Europe, Latin America, Asia, and North America. Until now, no globally recognized framework existed for comparing outcomes, consumer protections, and organizational performance across providers.

Outcomes-based financing models — including income share agreements (ISAs) and other shared-risk approaches — are built differently. Students repay only after securing employment above a minimum earnings threshold. Payments adjust with income and pause during hardship. When outcomes fall short of expectations, institutions and investors share risk alongside students.

The results are measurable and clear — this is the engine for the future of economic mobility, especially for young girls who aspire to tertiary education.

• Chancen International in Africa reports a 0.35% write-off rate, with women representing more than 60% of beneficiaries.
• Lumni in Latin America reports an 84% graduation rate among its students, against roughly 50% national averages across its markets.
• Studierenden Gesellschaft in Germany has operated for nearly 30 years and has been fully self-sustaining since 2020.

The evidence is growing. What has been missing is shared infrastructure for accountability and responsible growth — the kind of common reporting that helped build confidence in sectors such as microfinance and impact investing. With these new standards in place, students, policymakers, institutions, investors, and philanthropists will have a common reference and common expectations for responsible, ethical, and excellent practice.

The Standards

The standards framework requires member organizations to report six core questions annually, publicly, and by country to the Global ISA Alliance:

1.  Who are the students being served — including women, rural learners, and low-income students?
2.  Are students completing high-quality education and training programs?
3.  Are graduates securing meaningful employment and income mobility?
4.  Are member organizations financially healthy and sustainable?
5.  Are member organizations behaving ethically and transparently?
6.  Is the sector growing responsibly?

Underpinning that reporting are three commitments members make to students:

• Protect Students: Repayment is tied to income, includes protections during hardship, and ends after a defined period.
• Report Outcomes Transparently: Organizations use shared metrics that let stakeholders compare performance across providers and markets.
• Grow Responsibly: Expansion is guided by evidence, learner outcomes, and financial sustainability rather than growth alone.

"Standards before scale is not a slogan — it is the hard-won lesson of every financial innovation that came before us. If we want outcomes-based education finance to earn public trust and deliver meaningful opportunity for students, we must build accountability and transparency into the field from the beginning." — Batya Blankers, CEO of Chancen International and Co-Founder of the Global ISA Alliance

The framework was developed collaboratively by providers working across diverse geographies and was informed by reporting frameworks used by institutions such as the European Investment Fund. It is intended to evolve as the field matures and additional evidence becomes available.

Global Momentum Is Growing

Interest in models that share risk more fairly is accelerating. In May 2026, the European Investment Fund and Quotanda launched a €55 million initiative under the InvestEU Skills and Education Capped Guarantee, expected to support more than 4,000 students across Europe through deferred tuition and income-linked financing. In the United States, bipartisan federal legislation aligned with these principles will be introduced later this month. Rwanda is exploring regulatory frameworks to support responsible growth in the sector.

Together, these developments signal growing demand among students, institutions, employers, governments, and capital providers for financing tied to whether education delivers.

"For too long, the field has lacked a shared definition of responsible practice. These standards give students, institutions, policymakers, philanthropists, and investors a shared understanding of what responsible practice looks like. They create the trust necessary for outcomes-based education finance to grow responsibly around the world." — Courtney Criswell, Executive Director of the Global ISA Alliance

Building the Infrastructure

Today's standards are a first building block. With the support of partners and funders, the Alliance is working toward:

• A certification mark signaling adherence to shared consumer protection and reporting expectations;
• An independent research agenda to strengthen the evidence base for ethical financing models;
• Expanded shared data infrastructure to support transparency, comparability, and long-term investor confidence; and
• A growing global membership committed to learner protection and measurable economic mobility.

For generations, the challenge has been helping more people afford education. The next is ensuring that financing is aligned with whether education delivers opportunity. Today's standards are the first step toward building that foundation together.

About the Global ISA Alliance

The Global ISA Alliance is the only global membership organization dedicated to the responsible growth of outcomes-based and shared-risk education finance. The Alliance works to strengthen institutional capacity, establish shared standards, expand transparency, and build the infrastructure required for responsible scale globally.

The Steering Committee that developed the standards comprises Better Future Forward (United States), Chancen International (Sub-Saharan Africa), Lumni (Latin America), Quotanda (Europe and Latin America), Studierenden Gesellschaft (Central Europe), and Waiser (Asia).

The full standards are available at www.globalisaalliance.org/global-standards.

SOURCE Global ISA Alliance