HackerYou is a school based in Canada centered around coding workshops and it recently announced that it will be the first Canadian school offering Income Share Agreements.
This offers its students a new approach towards funding their education. Instead of paying the $12,000 tuition right away, HackerYou gives them the option to pay a percentage of their income after they are hired full-time and making at least an annual salary of $50,000. This system is designed to decrease the amount of risk during the transition from student to building one's career. How it works starts with a loonie and once a student s earning the minimum salary of $50,000, they begin paying 17% of their income each month for 24 months.
Developer Income-Sharing Agreements
HackerYou is the First Canadian School Offering Income Shares
Trend Themes
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Income Sharing Agreements (isas) — Opportunity to disrupt traditional education financing models by offering students the option to pay a percentage of their income after they are hired.
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Coding Workshops — Potential to disrupt traditional education methods by focusing on practical coding skills through intensive workshops.
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Risk-reducing Education — Opportunity to reduce risk for students transitioning from education to career by offering income-based payment options.
Industry Implications
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Education — Potential for educational institutions to adopt income sharing agreements as an alternative financing option for students.
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Technology — Opportunity for tech companies to partner with coding workshops to source qualified talent.
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Finance — Potential for financial institutions to develop innovative products tailored to income sharing agreements and student financing.