Global Financing for Education (GFE) is launching an income-linked education funding model across ASEAN on September 3, with an initial ambition to support 1 million students in the region before expanding more broadly.
The Singapore-linked initiative, called Pay It Forward, provides eligible students with upfront funding for education and related costs. Rather than requiring fixed repayments while a student is still studying, contributions begin only after the graduate reaches a defined level of stable income, according to GFE.
The model adds another approach to a persistent financing problem across Southeast Asia: the gap between students who qualify for education or training and those who can afford tuition, enrollment costs, learning materials and, in some cases, the living expenses associated with completing a program.
Funding tied to income after graduation
GFE said eligible students may receive support covering tuition, enrollment and program fees, learning materials and essential living expenses. Once a graduate reaches stable income, the participant contributes a small agreed percentage of income for a set period.
Those contributions are intended to flow back into the funding pool and support subsequent students. The structure therefore differs from a conventional loan with fixed monthly repayments, although the practical economics for individual participants will depend on the income threshold, percentage contribution, duration and other terms applied to each arrangement.
GFE founder Mario Ferro said the program was designed around a principle that education funding should take greater account of a student’s potential rather than relying primarily on financial history or an ability to pay upfront.
The organization said its focus may cover pathways ranging from vocational training to advanced degrees, with emphasis on education-to-employment outcomes.
Technology and assessment layer
The Pay It Forward model is supported by Waiser, a Singapore-based certified B Corporation that provides technology, assessment tools and infrastructure for the program.
According to the announcement, Waiser’s tools assess academic, career and other indicators while connecting students, educational institutions and funders. The company also uses AI-powered tools as part of its assessment and education-to-career infrastructure.
That assessment layer will be important to how the model scales. Income-linked education financing can widen access by shifting payment until after employment, but it also requires clear criteria for student selection, transparent contribution terms and safeguards around the use of data in assessing applicants.
GFE said the initial capital comes from Singapore-based private investors and foundations. Its longer-term goal is for contributions from successful graduates to help replenish the pool alongside additional funding.
Aiming for ASEAN scale
The platform is now live for students, institutions and funders, GFE said. Its stated ambition to support 1 million students makes execution across different ASEAN education systems, labor markets and regulatory environments a central challenge.
The region contains wide differences in tuition costs, graduate salaries, consumer-finance rules and the availability of student loans or public subsidies. A model tied to future income will therefore need to be adapted carefully across markets rather than treated as a single set of terms.
For comparison, TNGlobal has also covered other regional efforts to reduce education-access barriers, including the GrabForGood Fund’s scholarship and community programs across Southeast Asia.
GFE’s launch will provide an early test of whether a pooled, income-linked structure can bring private funding into education while keeping terms workable for students after they enter the workforce.
Featured image: GFE
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