TO PAY for his professional flight degree at Purdue University in Indiana, Andrew Hoyler had two choices. He could rely on loans and scholarships. Or he could cover some of the cost with an “income-share agreement” (ISA), a contract with Purdue to pay it a percentage of his earnings for a fixed period after graduation.Salaries for new pilots are low. Mr Hoyler made $1,900 per month in his first year of work. Without the ISA, monthly loan payments would have been more than $1,300. Instead, for the next eight-and-a-half years he will pay 7.83% of his income. He thinks that, as his pay accelerates, he will end up paying $300-400 more each month than with a loan. But low early payments, and the certainty that they would stay low if his earnings did, made an ISA the better option, he says. “I’ve been able to pay what I could afford.”
KUALA LUMPUR: Part of the fat salary that Sapura Energy Bhd president and chief executive officer (CEO) Tan Sri Shahril Shamsuddin draws hinges on a share covenant that he has with financial institutions, when the oil and gas group refinanced its whopping RM14 billion in borrowings.
Shahril confirmed the existence of this covenant, and it being the reason for his high remuneration package when contacted by The Edge Financial Daily.
“We stand here and it feels like we’re finally winning,” Tiffany Thomas Lopez said on stage at ESPN’s ESPY awards on Wednesday night.
Lopez is one of the so-called “Sister Survivors,” the more than 150 women who were sexually abused by disgraced USA Gymnastics and Michigan State team doctor Larry Nassar. They were awarded the Arthur Ashe Courage Award for their “strength and resolve” and for bringing “the darkness of sexual abuse into the light.”
Some 140 survivors of Nassar’s crimes came together on stage to accept the award, but survivor Sarah Klein said those present represented “hundreds more.” She added: “Make no mistake, we are here on this stage to present an image for the world to see: a portrait of survival, a new vision of courage.”
In January, Nassar was sentenced to 40 to 175 years in prison after the court heard seven days of statements from women who said he sexually abused them during his long tenure as team doctor, in what may be the biggest case of sexual abuse in the history of American sports.
Olympic gold medalist and survivor Aly Raisman said, “To all the survivors out there, don’t let anyone rewrite your story.”