Each year many applicants wish to attend ISU programs but lack the financial means to do so. Using funding from various Agencies and the space industry, as well as donations, ISU has managed to provide part of the tuition from its own funding to allow applicants to bridge the gap between the full tuition and the participants' personal contribution.
As the funding from these different sources is decreasing, ISU has been forced to introduce a system of pledges whereby such an advance is made on a reimbursable basis. Although based upon a moral obligation and not a contractual one, and in the interest of helping future applicants to finance their studies at ISU, applicants are therefore asked to make a best effort to reimburse a portion of the scholarship they have received when this becomes financially possible for them.
It is important to note that in most countries, it will be possible to deduct a large portion of the repaid sums from income taxes. Applicants should not hesitate to contact ISU for more information in this regard.
1. The first year after graduation those who remain unemployed will not be asked for repayment.
2. One year after graduation an installment plan is suggested. Note that installment plans suggest a 50% repayment only of the scholarship received, in order to minimize applicants' financial burden.
3. If salary at that point in time does not allow to sustain the payment plan, a justification for either a delay or reduced payments can be requested from the ISU Director of Administration and Finance to find an acceptable compromise.
4. Finally, to reduce the commitment duration, those who are employed immediately after graduation will be asked to begin the reimbursement process after closure of the program as reflected in their installment plans.