Fullstack Academy Launches Income Share Agreements to Expand Access to Tech Education

Rhea-AI Summary

Fullstack Academy has launched an Income Share Agreement (ISA) program aimed at enhancing access to its technology bootcamps in New York City, allowing students to defer most tuition costs until they secure employment. The ISA enables students to focus on learning without the burden of upfront fees. Graduates from Fullstack Academy can expect a median annual salary of $85,000. The program is launched in collaboration with Leif, a management platform specializing in ISA programs. Fullstack Academy is part of Zovio.

Positive

• Launch of ISA program enhances access to tech education.
• Students can defer tuition costs until employment is secured.
• Graduates earn a median annual salary of $85,000.

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• None.

Fullstack Academy, one of the nation's preeminent technology bootcamps, today announced the launch of an Income Share Agreement (ISA) program enabling students to participate in tech skills training while deferring the majority of tuition costs until employment is secured.

Applying specifically to full-time bootcamps offered at Fullstack Academy's New York City campus, the ISA program will enhance access to Fullstack's software development and cybersecurity bootcamps. The program furthers the organization's commitment to diversity it established when creating the Grace Hopper Program, the country's premier technical bootcamp for women+- students.

Under Fullstack Academy's ISA, students can choose to defer paying tuition for the duration of the program in exchange for sharing a percentage of their post-bootcamp income on a monthly basis. The only required payment at the bootcamp's commencement is an enrollment deposit.

"Since our founding, we have remained focused on increasing access to high-quality tech education. ISAs will help us increase access for those who aren't able to afford all the up-front tuition costs," said Nimit Maru, Fullstack Academy Co-Founder and Co-CEO. "This new financing option enables students to focus more on learning and less on cost so they can benefit from our cutting-edge curriculum that effectively prepares them for a successful career in tech."

Fullstack Academy's award-winning curriculum has enabled its New York City campus graduates to earn a median annual salary of $85,000 on average, according to Fullstack Academy’s Council on Integrity in Results Reporting (CIRR) data. New career opportunities have come from preeminent U.S. tech companies such as Amazon, Google, Facebook, and more.

To launch and manage the ISA program, Fullstack Academy partnered with ISA management platform Leif, which works with elite education providers across various fields of study. Leif's outcomes-aligned tuition financing solutions help education providers unlock full program growth and impact potential.

"We have long admired Fullstack Academy's best-in-class technology training, program outcomes, and impact in diversifying tech through its Grace Hopper program," remarked Jeffrey Groeber, CEO of Leif. "We are committed to helping programs like Fullstack Academy grow and thrive during these challenging times by leveraging outcomes-aligned tuition financing."

Fullstack Academy's ISAs are immediately available to students enrolling in its March 2021 cohorts in New York City. For more information, please visit

www.fullstackacademy.com/income-share-agreement.

About Fullstack Academy

Fullstack Academy is a coding bootcamp based in New York City. Founded in 2012, they offer cybersecurity and web development bootcamps at their Chicago and New York City campuses and online. Fullstack Academy also offers the Grace Hopper Program, an immersive software engineering course for women+, in addition to partnerships with leading universities nationwide, including Virginia Tech, Caltech CTME, and Louisiana State University. Graduates have been hired by Google, Facebook, Amazon, Fortune 100 firms, and startups. Fullstack Academy is part of the Zovio (Nasdaq: ZVO) network.

About Zovio

Zovio (Nasdaq: ZVO) is an education technology services company that partners with higher-education institutions and employers to deliver innovative, personalized solutions to help learners and leaders achieve their aspirations. The Zovio network, which includes Fullstack Academy, TutorMe, and Learn@Forbes, leverages its core strengths and applies its technology and capabilities to priority market needs. Using advanced data and analytics, Zovio identifies the most meaningful ways to enhance the learner experience and deliver strong outcomes for higher education institutions, employers, and learners. Zovio's purpose is to help everyone be in a class of their own. For more information, visit zovio.com.

About Leif

Leif is a technology company dedicated to increasing access to quality and affordable education. The company has developed an end-to-end platform that enables the design, origination, and program management of Income Share Agreement programs. As the infrastructure layer that powers the Income Share Agreement ecosystem, Leif partners with schools to provide students with an outcomes-aligned form of education finance.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210112005567/en/

FAQ

What is the new ISA program by Fullstack Academy?

The ISA program allows students to defer tuition until they secure employment, ensuring access to tech education.

When are the ISAs available for Fullstack Academy students?

ISAs are immediately available for students enrolling in the March 2021 cohorts.

What is the median salary for Fullstack Academy graduates?

Graduates have a median annual salary of $85,000.

Who partnered with Fullstack Academy for the ISA program?

Fullstack Academy partnered with Leif to manage the ISA program.

What is Zovio's role in relation to Fullstack Academy?

Zovio is the parent company of Fullstack Academy, offering various education technology services.