General Assembly is known for its immersive coding bootcamps, workshops, and courses that prepare students for a range of technology and business roles. And if you`re interested in attending one of their programs, you may have come across the term “Income Share Agreement” or ISA.
In this article, we`ll dive into what an ISA is at General Assembly, how it works, and what the Reddit community is saying about it.
What is an Income Share Agreement (ISA) at General Assembly?
An Income Share Agreement is a financial agreement between a student and a school that allows students to finance their education and pay for it after they secure a job. Instead of taking out a loan to finance their studies, students can use an ISA where they agree to pay a percentage of their income after they find employment.
At General Assembly, an ISA is a financing option for students attending the school`s coding bootcamps. Instead of paying tuition upfront, students agree to pay a percentage of their income after graduation for a set period. This payment is capped at a maximum amount, which means students won`t be paying indefinitely.
How does the General Assembly ISA work?
General Assembly`s ISA works by allowing students to finance their education, without the burden of upfront tuition costs or student loan debt. Instead, students agree to pay a percentage of their income after they secure a job.
The ISA has a fixed payment period and a maximum payment cap. The payment period starts after the student graduates and secures a job. The payment cap is the maximum amount that a student will pay under the agreement. Once a student reaches the cap or the payment period ends, the ISA is considered fulfilled, and the student is no longer obligated to pay.
What is the Reddit community saying about General Assembly`s ISA?
The Reddit community has mixed opinions on General Assembly`s ISA. Some people find the idea of paying a percentage of their income after graduation to be more reasonable than dealing with traditional student loans. Others argue that it can be challenging to determine the value of the education received and whether it justifies the percentage of income paid.
One Reddit user shared their experience with General Assembly`s ISA and found the program to be a great way to finance their education without upfront costs. They also noted that the ISA helped them focus on their studies and not worry about finances while in school.
Another Reddit user expressed concern over the potential of an ISA leading to exploitation, with the school potentially overvaluing or misleading students about the value of their education.
Conclusion
General Assembly`s Income Share Agreement is a financing option that allows students to attend the school`s coding bootcamps without upfront tuition costs or student loan debt. It works by students agreeing to pay a percentage of their income after they secure a job, with a fixed payment period and maximum payment cap.
While the Reddit community has mixed opinions on General Assembly`s ISA, it can be a reasonable financing option for those looking to attend a coding bootcamp without upfront costs. It`s essential to evaluate the value of the education received and whether the percentage of income paid is justified before committing to an ISA.