The Flatiron School, a coding bootcamp program founded in New York City, has launched a new financing option for classes for students enrolling in its Washington, D.C. campus.
The income share agreement (ISA) was put in place to reduce educational financial barriers and will allow students defer their tuition payments until after they graduate and secure a job, according to a press release. D.C. joins Atlanta, Chicago and Denver in offering the income share agreement at Flatiron campuses.
“We believe in the transformative power of education, which is why we’re laser-focused on delivering the best education available and helping to get our students jobs in the field,” Flatiron School CEO and cofounder Adam Enbar said in a statement. “To make education truly impactful it has to be accessible. The Flatiron School ISA will give more students the opportunity to change their lives and access the careers of their dreams through an unparalleled education from Flatiron School.”
The ISA option does come with set rules and stipulations, including:
- A refundable $2,000 deposit — Students can get their money back if they do not secure employment within six months of graduation.
- Once graduates secure a job making at least $40, 000 annually, they are required to start making monthly payments equal to 10 percent of their gross monthly income until they reach $21,500 or make 48 consecutive payments, whichever comes first.
The ISA is eligible for Flatiron D.C.’s 15-week software engineering course and upon completion, students will work closely with career services to secure employment post-graduation.
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