Background on Mia Share
Mia Share works with trade and technical schools across the country to provide affordable payment solutions for students. They build, manage, and fund custom tuition solutions for high quality trade and technical schools that prioritize student outcomes. Through their specialized software and human support, they facilitate custom Single Payments, Income Share Agreements (ISAs), Payment Plans and Hybrid structures. Mia Share gives more students the ability to pursue affordable, valuable education while helping partner schools improve enrollment, retention, and outcomes.
Understanding Income Share Agreements (ISAs)
The team at Mia Share is fiercely devoted to making education financing more fair by providing alternatives to student loans. Under an income share agreement (ISA), the student receives their tuition in exchange for a fixed percentage of their income. There are constraints around what the student owes each month. If they don’t earn above a set income threshold each month on an annualized basis, they won’t owe anything; only when they surpass the income floor do they owe a percentage of earnings back per month. On the other end of outcomes, the ISA has a cap for money owed, and if the contract ends before the tuition is paid back in full, the agreement is still terminated without any remaining balance or accumulating interest.
Independence for Operations
The Operations Team at Mia Share had a long list of alerts they wanted to receive, but it meant submitting requests to Engineering for every change, even if it was only to update the Slack channel where they wanted to re-route the alert. That’s when they implemented Avenue.
“The queries are easy to replicate, and I make quick changes to create a new notification,” explains Molly Roberson, Head of Operations at Mia Share. “On the day-to-day, having Avenue gives me tools to keep an overview and understand the system more. I can’t constantly bombard our engineers with new notifications or small changes. I also get to set up notifications when I’m onboarding new team members to help familiarize them with different processes and aspects of our company.”
Mia Share’s Chief Technology Officer, Derrick Ontiveros, was hesitant at first to implement a tool like Avenue. “I was concerned that it wouldn’t be accessible for non-developers and skeptical that it would save us time, but it really has,” he shares.
Before Avenue, Ontiveros would have to allocate resources to alert creation, increase the complexity of Mia Share’s internal systems, and continually manage the list of alerts for Roberson and her team. Now, they have notifications “up and running more easily with Avenue than anything else.”
With their focus on simple, smart, and scalable technologies, the Mia Share team is ready to grow. Internally, they’re focusing on growing the team and continuous product improvement. Strategically, their aim is to increase their product offerings for partner schools and expand to a wider range of trade and technical schools across the country this next year. Underlying both goals is their core mission: “Our goal is to continue making education more accessible to students and to continue giving them alternative options to student loans.”
Does this sound like your team?
Operations teams have been the group that works on the edge of a business. They pick up everything that slips through the cracks, and they tend do so with a patchworked and insufficient toolkit. Instead of focusing on preventing fires, they have to figure out where the fires are coming from while they fight them.
It’s a new day for operations teams. Avenue provides all the alerts, monitoring, analysis, and escalations you need, in one place.
Why wait? Get started with Avenue.
Happy monitoring 🚀