Juno College of Technology Aims to Offer Tuition Flexibility to Students
Kalina N — June 17, 2020 — Social Good
References: junocollege & betakit
Juno College of Technology—a Toronto-based coding school—is attempting to draw in those eager to learn after the COVID-19 outbreak. The institution is sensitive about people's financial situation as many lost their source of income during the pandemic. As a result, it is offering a Pay-What-You-Can Income Share Agreement (ISA) program. This is believed to be "the world's first ISA program of its kind."
The Pay-What-You-Can ISA will allow "a certain number of students per Juno cohort [...] to pay an upfront amount of their choosing and take an ISA for the remaining tuition." This amount of flexibility is, without a doubt, useful during this uncertain time. The Pay-What-You-Can ISA was first tested out last year for Juno College of Technology's Web Development Immersive Bootcamp. Students were able to pay a small amount upfront and pay the rest when they were graduated and earning a salary.
Image Credit: Juno College of Technology
The Pay-What-You-Can ISA will allow "a certain number of students per Juno cohort [...] to pay an upfront amount of their choosing and take an ISA for the remaining tuition." This amount of flexibility is, without a doubt, useful during this uncertain time. The Pay-What-You-Can ISA was first tested out last year for Juno College of Technology's Web Development Immersive Bootcamp. Students were able to pay a small amount upfront and pay the rest when they were graduated and earning a salary.
Image Credit: Juno College of Technology
Trend Themes
1. Pay-what-you-can Income Share Agreement (ISA) Programs - Disruptive innovation opportunity: Implementing flexible payment options for education programs to accommodate individuals with varying financial situations.
2. Tuition Flexibility in Education - Disruptive innovation opportunity: Offering alternative tuition payment models to attract and support learners affected by financial constraints.
3. Income Share Agreements (isas) - Disruptive innovation opportunity: Developing new models of financing education that align the cost of education with post-graduation income.
Industry Implications
1. Education - Disruptive innovation opportunity: Introducing innovative financial models to make education more accessible and inclusive.
2. Technology - Disruptive innovation opportunity: Leveraging technology to create platforms and systems that enable flexible payment options for educational programs.
3. Financial Services - Disruptive innovation opportunity: Collaborating with educational institutions to develop tailored financing solutions for learners based on income share agreements.
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