Better Future Forward
Better Future Forward is a 501(c)(3) nonprofit that provides income-contingent education financing (Student Education Fund Agreements) to historically marginalized first-time bachelor's degree students referred through partner college access programs in Minnesota, Wisconsin, and Illinois.
- Company typePrivate
- Founded2017
- HeadquartersFalls Church, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Better Future Forward does
Better Future Forward (BFF) is a 501(c)(3) nonprofit founded in 2017 and headquartered in Lakeville, Minnesota, that provides income-contingent education financing through its Student Education Fund (SEF) Agreement product. The organization serves historically marginalized students pursuing their first bachelor's degree who are active participants or alumni of select college access programs including Bottom Line, College Possible, Noble Schools, OneGoal, and One Million Degrees, operating in Minnesota, Wisconsin, and Illinois. BFF funds up to $1,000-$50,000 per student to cover tuition, living expenses, and supplies, with repayment structured as a fixed percentage (0.25%-9.5%) of monthly income above a $42,500 lower income cut-off, continuing until one of three finish points: 120 income-determined payments, a 240-month window, or early completion at a 7.5% effective APR cap.
BFF does not develop proprietary technology; student account management, income reporting, and payment processing are operated through a third-party platform, Knowledge Finance. The organization's go-to-market is referral-only: students must be referred through one of its five partner college access organizations, making BFF's distribution entirely community-led and partner-driven at zero paid acquisition cost. BFF has deployed $2M+ in sustainable education financing to 200+ students since inception with an 85% persistence-or-graduation rate, and is funded through grants and program-related investments from approximately twelve foundations including Bill & Melinda Gates, Michael and Susan Dell, Lumina, Jack Kent Cooke, Arnold Ventures, ECMC, and CME Group Foundations.
BFF's regulatory profile is distinctive among ISA providers: in August 2021 it entered a Consent Order with the Consumer Financial Protection Bureau (CFPB) related to federal disclosure practices, finalized its compliance plan in September 2022, and developed proprietary CFPB-approved disclosure formats for ISAs with no civil monetary penalty. The organization rebranded its ISA terminology to Student Education Fund Agreement while preserving the same contract structure and consumer protections.
Better Future Forward firmographics
Firmographics- Name
- Better Future Forward
- Legal name
- Better Future Forward
- Website
- https://betterfutureforward.org
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Better Future Forward is a 501(c)(3) nonprofit that provides income-contingent education financing (Student Education Fund Agreements) to historically marginalized first-time bachelor's degree students referred through partner college access programs in Minnesota, Wisconsin, and Illinois.
- Ownership category
- akta.pro rank
Better Future Forward industry classification
Industry- Product category
- Education Finance
- NAICS
- Educational Support Services (6117)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Income-Driven & Alternative Repayment Programs (FSAKAEAF)
- akta.pro secondary industries
- In-School Tuition & Fee Financing (Short-term/Bridge) (FSAKAEAG), Payments, Cashiering & Payment Plans (EDALAJAE)
Keywords
Where Better Future Forward is headquartered
LocationHeadquarters
- HQ city
- Falls Church
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Better Future Forward business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D
Revenue model
- Income Share Agreement (ISA) / Student Education Fund (SEF) Agreement: BFF provides students with funding through SEF Agreements (formerly called ISAs). Students receive funds to cover education costs and agree to make income-determined payments after graduation. Payments are calculated as a fixed percentage of their monthly income (0.25% to 9.5%) when earning above the lower income cut-off ($42,500 adjusted annually). Payments continue until one of three finish points is reached: making 120 income-determined payments, 240 months elapsing, or reaching early completion amount. The organization is funded through grants and program-related investments from foundations, not through revenue from students.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Outcome Based/ Performance | Pay-as-you-go | Standard SEF Agreement for new students |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
Better Future Forward product offering
Product offeringCore offering
Better Future Forward provides Student Education Fund (SEF) Agreements — an income-contingent financing product (formerly known as ISAs) — that funds undergraduate education costs (tuition, living expenses, books and supplies) for historically marginalized students pursuing their first bachelor's degree. Repayment occurs as a fixed percentage of monthly income after graduation, with $0 payments below a lower income cut-off and a capped effective APR of 7.5%. Students are acquired exclusively through referrals from partner college access organizations.
Product overview
Better Future Forward operates as a 501(c)(3) nonprofit ISA provider offering a single core product: the Student Education Fund Agreement (SEF Agreement). This is an income-contingent student financing product where students receive up to $50,000 in educational funding and repay through income-determined monthly payments after graduation. Students access their accounts through a third-party portal (Knowledge Finance) to report income, submit documentation, and manage payments. The SEF Agreement is structured with three finish points—120 payments, 20-year maximum, or early completion—and includes protections such as a 6-month grace period and 12-18 months of forbearance.
Differentiator
Problem solved
Functional benefit
Products and services
- Student Education Fund Agreement (SEF Agreement) An income-contingent financing product for historically marginalized students pursuing their first bachelor's degree. Students receive $1,000 to $50,000 to cover tuition, living expenses, and books. After a 6-month grace period, students pay 0.25% to 9.5% of monthly income when earning above the lower income cut-off ($42,500/year, adjusted annually), until reaching one of three finish points: 120 income-determined payments, 240 months elapsed, or early completion amount. Includes 7.5% effective APR cap, 12-18 months of forbearance, and no credit score requirement.
Quantifiable outcome
- 85% of BFF students have persisted in or graduated from their four-year college degree program
- +1 more outcomes
Companies that use Better Future Forward
Customer profileNamed customers4 records
Segments1 record
Ideal customer profiles1 record
Better Future Forward technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Better Future Forward partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core.
- Consumer Financial Protection Bureau (CFPB)coreBFF worked with CFPB to develop and finalize a compliance plan resulting in updated disclosure formats for ISAs. CFPB noted BFF's 'demonstrated good faith and substantial cooperation' in the Consent Order.
- Bottom LinecoreCollege access partner organization that refers students to BFF's SEF program. Students must be participating in or be alumni of Bottom Line to be eligible for BFF funding.
- College PossiblecoreCollege access partner organization that refers students to BFF's SEF program. Students must be participating in or be alumni of College Possible to be eligible for BFF funding.
- Noble SchoolscoreCollege access partner organization (alumni only) that refers students to BFF's SEF program.
- OneGoalcoreCollege access partner organization that refers students to BFF's SEF program. Students must be participating in or be alumni of OneGoal to be eligible for BFF funding.
- One Million DegreescoreCollege access partner organization (alumni only) that refers students to BFF's SEF program.
- Knowledge FinancecoreThird-party technology platform used by BFF for student account management, income reporting, and payment processing. Students set up accounts and report income through this platform.
Scale indicators4 records
Recent moves6 records
Expansion highlights4 records
Better Future Forward competitors and assessment
Company assessmentOthers
- ECMC Foundation: ECMC Foundation is a major education funder and BFF supporter that also funds broader education finance reform initiatives, including pilots of ISAs and alternative repayment models in higher education.
- Ithaka S+R: Ithaka S+R is a nonprofit research and advisory organization that has extensively studied ISAs and education financing models, sharing BFF's interest in evidence-based alternatives to traditional student debt.
Emerging players
- Climb Credit: Climb Credit provides financing for skills-training and career-education programs, offering an alternative-to-loan model comparable to BFF's ISA but focused on non-degree programs.
Direct peers
- Lumni: Lumni is a pioneering social enterprise providing income-share agreement funding to low-income students in the US and Latin America, closely matching BFF's mission-driven, income-contingent model for underserved populations.
- Stride Funding: Stride Funding (formerly Leif) is a for-profit ISA provider focused on higher education students, offering a comparable income-share product though with a commercial rather than nonprofit orientation.
- Purposed: Purposed runs an ISA-based funding program for first-generation college students, making it one of the closest US-based nonprofit peers to BFF in terms of target population and income-contingent structure.
Broad incumbents
- Vemo Education: Vemo Education is a leading ISA administration platform serving colleges, universities, and training providers, comparable to BFF as an infrastructure provider for income-share agreements in higher education.
Market position
Strengths4 records
Weaknesses4 records
Key risks5 records
Key highlights6 records
Customer concentration
Better Future Forward social profiles
Digital presenceBetter Future Forward financial estimates
Financial estimateRevenue estimate
Valuation estimate
Better Future Forward leadership team
Management profileNumber of profiles
Profiles6 records
Better Future Forward funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Better Future Forward M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Better Future Forward
What does Better Future Forward do?
Better Future Forward provides Student Education Fund (SEF) Agreements — an income-contingent financing product (formerly known as ISAs) — that funds undergraduate education costs (tuition, living expenses, books and supplies) for historically marginalized students pursuing their first bachelor's degree. Repayment occurs as a fixed percentage of monthly income after graduation, with $0 payments below a lower income cut-off and a capped effective APR of 7.5%. Students are acquired exclusively through referrals from partner college access organizations.
Is Better Future Forward a public or private company?
Better Future Forward is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Better Future Forward founded?
Better Future Forward was founded in 2017. It employs 11 to 50 people.
Where is Better Future Forward based?
Better Future Forward is headquartered in Falls Church, United States, in the North America region.
How does Better Future Forward make money?
One revenue line is on record: income Share Agreement (ISA) / Student Education Fund (SEF) Agreement.
Who are Better Future Forward's main competitors?
Others on record are ECMC Foundation and Ithaka S+R. Climb Credit is listed as an emerging player. Direct peers are Lumni, Stride Funding and Purposed. Vemo Education is listed as a broad incumbent.
Does Better Future Forward have an API?
No public API is recorded for Better Future Forward.
What industry is Better Future Forward in?
Better Future Forward's product category is Education Finance. Its primary akta.pro industry code is FSAKAEAF, Income-Driven & Alternative Repayment Programs, with a secondary code of FSAKAEAG, In-School Tuition & Fee Financing (Short-term/Bridge). Its NAICS code is 6117 and its SIC code is 6141.