What are income share agreements in coding bootcamps?
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What are income share agreements in coding bootcamps?
Income share agreements (ISAs) are a type of financing where students pay a percentage of their income after securing a job.
How do ISAs work in practice?
In practice, students agree to pay a set percentage of their salary for a specified period once they earn above a certain income threshold.
What are the benefits of using an ISA?
Benefits include no upfront costs, aligning the school's success with the student's success, and flexible repayment options.
Are there any risks associated with ISAs?
Yes, risks include potentially high repayment amounts if you secure a high-paying job and the possibility of long repayment terms.
Can you compare ISAs to traditional student loans?
Unlike traditional loans, ISAs are income-based and do not require monthly payments until you reach a certain income level.
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