Institutions of higher education have increasingly needed to balance college affordability with their own financial sustainability. There is a growing need for financial innovation and few examples within higher education for adoption of innovation frameworks. This qualitative dissertation examines phases of adoption of income share agreements (ISAs) at four U.S. institutions of higher education. Eight institutional leaders from the four schools were interviewed about the decision-making process their institution underwent when considering and implementing ISAs. General systems theory (GST) was used as a framework to consider inputs, throughputs, and outputs of the adoption process. Environmental inputs include the need for discretionary funding, an adaptive leadership culture, and a defined crisis. Behavioral throughputs include low to high levels of direct leadership engagement with the innovation adoption process. Outcomes and success metrics were impacted by the closure of the ISA programs, but the model includes confirmatory returns on investment and smaller-than-anticipated student cohorts. While the ISAs were ultimately dissolved at all four schools, analysis of the adoption of financial innovation process at each institution offers insight into how future institutions can approach adoptions of their own. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://bibliotheek.ehb.be:2222/en-US/products/dissertations/individuals.shtml.]