New York Code + Design Academy Introduces New Income Share Agreement Payment Model
August 15 2017 - 5:00AM
Business Wire
Students pay incrementally after the program
and only if they have a job
The New York Code + Design Academy (NYCDA) has announced a new
interest-free payment model in which students pay incrementally
after the program and only if they have a job. The income share
agreement (ISA) has been approved in Utah by the Utah Department of
Commerce and in Pennsylvania by the Pennsylvania Department of
Education. NYCDA is seeking approvals for additional NYCDA
locations.
The program requires students to pay for their education only if
they are earning at least $40,000 a year. Then students will pay 8%
of their monthly income for as long as it takes to pay off the
original price of the program, up to a maximum of 48 monthly
payments, without any interest.
“This new model addresses two major issues head-on. First, many
students are unable to finance job-relevant education without
incurring debt, and second, American companies are desperate for
quality technical talent,” said Jeremy Snepar, CEO and Founder of
NYCDA.
Through the income share agreement program, ISA students will
pay a set percentage of their monthly income. The student will pay
no interest and will have the same tuition price as students who
pay upfront, regardless of salary. NYCDA’s application process is
designed to identify students who will be successful in the course
through an assessment of their interests, career goals, and
schedules.
“The New York Code + Design Academy was founded to close the gap
between the many open computer programming jobs available in
America and the students with the talent, passion, and work ethic
to fill those jobs. Our corporate parent, Strayer Education, Inc.,
has given us the support and backing to permit us to explore new
education models, like the ISA program, that allow for student
success,” Snepar added.
Vemo Education will facilitate employment verification and
payment transfer from employed students to NYCDA.
For more information about NYCDA’s income share agreement,
visit: nycda.com/financing.
About The New York Code + Design
Academy
The New York Code + Design Academy (NYCDA) is a technology
school built on a community of entrepreneurs, passionate
developers, and educators. Intensive hands-on training programs in
web development and user interface/user experience (UI/UX) design
are offered both full-time and part-time at campuses across the
United States and in Amsterdam, Holland. For more information on
The New York Code + Design Academy, visit nycda.com.
About Strayer Education,
Inc.
Strayer Education, Inc. (NASDAQ: STRA) is an education services
holding company that owns Strayer University and the New York Code
+ Design Academy. For more information on Strayer Education, Inc.
visit www.strayereducation.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170815005370/en/
Strayer Education, Inc.Rachel Richelieu,
202-557-4920Rachel.richelieu@strayer.edu
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