Why We Launched an ISA in 2021
Making the Transition to a Tech Career More Accessible
We’re thrilled to announce that Tech Elevator is now offering a new funding source for our students in the form of an Income Share Agreement (ISA) option.
An ISA is a funding option in which schools offer students up-front education funding in exchange for a fixed percentage of future income for a defined, finite period of time. This will allow students to complete the Tech Elevator program, and pay tuition once they start earning above a minimum income threshold. With a deposit upfront and payments due once a job is secured, students are able to take steps toward their future without the financial burden today.
This new funding option reflects Tech Elevator’s commitment to create greater accessibility to careers in tech for our students, provides another financially flexible way to invest in securing job-ready skills, and demonstrates our confidence in our industry-leading outcomes.
Why Are We Launching an ISA Now?
At Tech Elevator we’ve always put our students first and we have been watching closely as the ISA funding model has become more prevalent throughout the coding bootcamp industry. While we believe in the promise of ISAs, we also have been cautious and diligent about offering them as a funding option in order to ensure that if and when we did offer them, they would be reflective of the student-first approach we take in everything we do.
The idea of an ISA holds great promise and, as such, it has captured significant media attention, at times for the wrong reasons. ISAs have also rightfully received a good deal of regulatory scrutiny – they’ve been misused as slick marketing tools and as ways to pass on significantly higher costs to a student.
We are not adding ISAs because we see them as a marketing tool to boost enrollment; we believe our reputation and outcomes should be the driver of that. We are also not intending to make money off of ISAs. We are adding an ISA option because, as part of the Stride family of companies, we are now in a position to offer them directly to students with some of the most student-friendly terms in the industry. For us, doing right by our students and getting ISAs right has been worth the wait.
Tech Elevator’s ISA Offering: More Accessibility & Better Terms
Today, access to quality skills-based learning is more important than ever, and Tech Elevator’s ISA offers potential students one more option to finance their education. When more individuals’ financial circumstances or payment preferences can be accommodated, we can create greater accessibility to a life-changing career in technology.
At Tech Elevator, we’ve steadily and consistently proven that we can lead the industry in transparent and audited job placement outcomes, and deliver the return on investment that our students are seeking. We’re proud that the average Tech Elevator student sees a $24k lift in their earnings as a result of our program. It’s our intent that our audited reporting gives our students clarity in their coding bootcamp decision, and confidence that they are putting their trust in a proven provider.
Who is the ISA funding option right for?
Because everyone’s situation is different, each person will have to decide what is right for them. For us it’s important to provide a variety of options for you to pay for our program.
Even without the ISA option, Tech Elevator already offers some of the most student-friendly funding sources in the industry. One example is our relationship with Sallie Mae – something unique to Tech Elevator in the industry and made possible only because of our industry-leading job placement outcomes.
To that end, the ISA will become an option alongside our other trusted lending partners and funding resources. These include loans through our partners Sallie Mae and Ascent, workforce grant dollars, veterans benefits and scholarships. Please visit our Tuition Page to compare options and reach out to our Admissions team if you have any questions.
