Global tech training company BrainStation has announced a new program in which it says it will defer the tuition of its students in Vancouver until said students are employed and “earning a minimum level of income.”
The company said it has added the “income sharing agreements” (ISA) to its payment and financing plan options in Vancouver, allowing students to defer payment until they are employed and earning a minimum level of income.
The company, which also launched Canada’s first boot camps in data science and UX design, and has campuses in New York, Toronto, Chicago, Vancouver, and Boston is the first educational institution to offer ISAs in Vancouver.
“Our mission is to empower as many professionals as possible to help close the global skills gap,” said BrainStation founder and CEO Jason Field. “Adding ISAs to our already comprehensive payment and financing plan options is part of that mission, making premium digital skills more accessible.”
Field said ISAs can “remove financial barriers and better align tuition costs” with post-program income.
“We feel it will allow a larger group of people to explore career transforming educational opportunities,” he said.
According to BrainStation, the ISA means students only have to make a small down payment to start a diploma program, and only begin paying back tuition once they are earning more than $40,000 per year. If in any month, a student earns less than the minimum income threshold, payments are paused.
ISAs are currently available for students enrolled in 12-week diploma programs in data science, web development, and user experience design at the BrainStation Vancouver campus.
“An ISA is just one of many payment and financing options we offer prospective students, and our recruitment and admissions team can help applicants pick the option that’s best for them,” said Field. “By working with each student to find the right solution, we can continue to democratize digital learning and tackle the skills gap head on.”
More information about BrainStation’s ISA, is available here:
BrainStation was established in 2012.