OREANDA-NEWS. VEMO Education. Inc. ("Vemo") is an Education Technology company working with U.S.-based colleges and universities to provide a technology platform for income-based student financing programs in the US$1.3 trillion student debt market in the United States.  FastForward holds an 8.2% equity interest in Vemo.

Vemo announced on Monday, Nov. 23 the signing of a letter of intent with Purdue Research Foundation, under which Purdue University will become one of the first universities in the U.S. to study the potential benefits of income share agreements ("ISA") as an option to help students pay for higher education. 

The Purdue Research Foundation program will not replace government subsidized loans, but, if viable, will offer students and their families an alternative to private education loans or PLUS loans, which can entail substantial risks to students if they cannot afford their payments during and after college.

"Through our selection process, we were impressed not only by the Vemo team's expertise in education financing, but also its strong understanding of, and appreciation for, the needs of students," said Brian Edelman, chief financial officer for the Purdue Research Foundation. "We look forward to the guidance they'll provide to the foundation as we continue to evaluate the potential of ISAs as a useful tool for Purdue students."

Vemo Education's mission is to help higher education institutions empower their students by developing customized, value-oriented student financing programs.  Providing a full-service approach to its partners, Vemo has invested in the infrastructure required to design, price, originate, disburse, and service income-based payment products. Vemo's management team has extensive experience in education finance and the financial aid sector.