Income Share Agreement for Education Finance

What is the project about?

With our crowdfunding campaign, we aim to finance study programs for women at the Akilah Institute in Kigali. Our special financing model stands out because of its sustainable and fair approach. The repayments directly finance the education of the next generation of students.
Meanwhile, an income-dependent repayment guarantees that every person only pays back as much as they can afford.

In 2018, we were able to finance the first students. Next year we want to support even more young women.

Our approach goes beyond professional education. Through additional workshops, we increase the opportunities of the graduates on the job market and an active alumni network will give graduates the possibility to support each other throughout their lives.

The problem

African economies are experiencing a deficit in highly qualified employees while at the same time people with low education are stuck in vulnarable work or are unemployed. Although 26 % of people worldwide have the chance to pursue further education after high school, in sub-Saharan Africa it is only 6%.

Only one further year of education of young adults could increase the GDP by 12% in those countries.

Qualitative tertiary education costs money and many teenagers cannot afford the tuition fees. Furthermore, most financing options bear the risks of high repayments and debt traps.

Our solution

Our sustainable and fair financing model, the so-called Income Share Agreement, is already enabling the first generation of students to pursue tertiary education. It works like this:
Your money will be invested by CHANCEN International directly into the education fees of the students. They will be able to focus on their studies while our community supports them in achieving their goals.

After graduating, the former students repay a fixed percentage of their income for a certain amount of time to the CHANCEN Community. The repayments are income-dependent, which means that those who earn more pay back more and those who earn less pay back less.
If the graduate earns very little she is exempt from repayment until she can afford the repayments. Through the repayments, we can directly finance the tuition fees for new students and offer them a tertiary education.


Our local presence

Our organisation is locally focused with a bottom-up approach to our work in Rwanda, where we can rely on the knowledge of our local partners. We understand the challenges and opportunities of the country, as well as the environment in which we work. Since January 2018 we have had our office in Kigali with a local team.

Our partner institutions

We conducted intensive field research in Rwanda in 2017 and we were asked in 2018 by the prestigious Akilah Institute to offer Income Share Agreements (ISA) to their students. Since autumn 2018 we have been supporting our first students there.

The institute offers tertiary education for women in the fields of Hospitality Management, Entrepreneurship, Business Management, and Information Systems. Akilah has a unique curriculum which is focused on competency based learning. The institute focuses on the development of leadership skills, critical thinking, and a mentality of constant progress.

Thanks to an excellent orientation on the needs of the local job market, 88% of graduates find employment within 6 months of graduating.

Women from difficult backgrounds in particular are supported:
47% have lost one or both parents
55% come from rural areas
75% were unemployed before starting at Akilah
78% are the first generation of their families to access tertiary education

Our impact

…on the students

Regardless of their personal background, they can realize their goal of obtaining tertiary education. Through high-quality education, they have great prerequisites for a career in the field of their choice.

The ISA exceeds financial support- the students acquire knowledge in financial competence and other relevant areas of business and daily life.

An active alumni network supports and encourages them throughout their lives.


… on future students:

Through the repayments of the currently supported students, we can offer an education to future students. Our financial model has the potential to finance generations of students after financing only one student’s education.

… on our partner institutions

If the financing of our students is secured, the existence of our partner institutions is secured for the long run and they can grow sustainably.

… on our partner countries

We help ensure strong social mobility for contemporary and future generations. Well-trained people can actively participate in the labor market and thereby contribute to the economic growth and stability of their home countries.

The goal of the campaign:


With our crowdfunding campaign, we want to enable as many women as possible to earn a two-year degree at Akilah Institute. As in most countries in the world, women in Rwanda experience structural disadvantages. With access to tertiary education they can realize their dreams for the future.

The long-term goal of CHANCEN International:

Our goal is to finance the education of as many young adults as possible to enable them to reach their goals.

We want to help as many well-trained people as possible to take part in the local economy. For only this way can they contribute to economic growth and stability in their home countries.

In order to do so we aim to reach out to two groups:

1. Firstly, we want to reach as many potential students as possible, who we can offer an education with great perspectives and secure employment perspectives. Even after graduating they will find support and a strong community in our alumni network.

2. Secondly, we want to reach universities and educational institutes, which by offering integral education guarantee high-level education in their country.

... because education is a human right, yet few people have access to it.


... because there is no future without education – especially in our knowledge-based modern society.

... because our model works sustainably – hence your one-time investment not only finances students now but also ensures the financing of further generations.

... because we also provide additional work-related skills.

... because we don’t abandon our students after graduation – our alumni network supports them throughout their lives.

... because we also support the educational institutions.

We are calling upon all that want to make a contribution so that people can afford tertiary education and thereby create long-term perspectives in their home country.

Maybe you want to participate and finance the education of one student for 1,500€.

1,500€ finance one student’s study program at the Akilah Institute. With this contribution, you don’t only finance the studies of the class of 2018 but also one in 2023, 2028, 2033, 2038 ...

If we reach our first funding goal of 22,500€ we can immediately finance 15 students who then provide the funding for the next generation of students in 2020.

If we reach our second funding goal of 225,000€ that number goes up to 150.

The request for study programs already exceeds 150 at Akilah Institute alone. All support beyond the 225,000€ enables us to help more students to reach their goals, in this and the following generations. Our financing model is easy to scale. All we need is the necessary financial support.

We keep our operation costs as low as possible (10% maximum) so that the clear majority goes directly to the student.