Today we’re excited to announce that HackerYou has become the first school in Canada to offer Income Share Agreements - no loans, no debt, and just a loonie upfront. You'll pay a percentage of income after you're hired, but only if you're making at least $50,000 a year.
Income Share Agreements are a new way for our Bootcamp students to fund their full-time learning at HackerYou. Rather than requiring $12,000 in tuition upfront, you now have the option to get started for just a loonie. You’ll pay a percentage of your income after you’re hired, but only once you’re making at least $50,000 per year.
We understand that investing in education is scary - especially when that education is a $12,000, nine-week, full-time program like ours. What if I can’t afford the tuition? What if I can’t find a job after graduation? What if I don’t get the salary I want? What if my risk doesn’t pay off? Plus, so many of us have already been burned by post-secondary education. We signed up for degree and diploma programs at great schools, only to graduate years later saddled with debt and few job prospects in sight.
Our Income Share Agreements are designed not only to take the risk out of your career change, but also to make careers in technology - some of the best jobs out there - accessible to more Canadians. If you’re serious about making a career transition and committing to our Bootcamp, and have what it takes to make it as a professional developer, we want you at HackerYou - regardless of your current financial circumstances. After five years of running our Bootcamp program, we know there is no ‘one thing’ that makes someone a great developer. Our graduates are from a variety of backgrounds and walks of life, and we’re proud to help them change careers and bring their diverse experiences to Canada’s booming technology sector.
Income Share Agreements at HackerYou are simple - it’s a loonie up front, and then you pay 17% of your income once you’re making at least $50,000.
If you don’t find a job or don’t make a high enough salary, you don’t have to pay us back. Instead of you taking the risk, we’re flipping it around: we’re the ones taking the risk. We’re confident because we’ve been running our Bootcamp program for over five years. We know that people like you are worth investing in.
To illustrate how our Income Share Agreements work, let’s say you graduate from HackerYou and land a job making $50,000 a year right away. Up until that point, you’ve paid us a loonie. Now that you’re earning more than $50,000, you’ll pay us 17% of your gross monthly income each month for 24 months, which works out to $708.33 per month. The total you’ll pay back by the end of two years is $16,999.92, just $4999.92 more than those who chose to pay our $12,000 tuition up front.
Note that things change a bit if you land a job making more than $50,000. Let’s say that you’re so successful at HackerYou that you end up in a role making $70,000 upon graduation. At that salary, your monthly payments will be $991.67, and by the end of 24 months you will have paid us $23,800.08.
And what if you were to land a job after HackerYou making even more than that? Our salary cap is $30,000 - so that is the most you’ll ever pay. (You’d only hit it if you were making almost $90,000 a year, to which we’d have to give you - and ourselves - a big pat on the back!)
Income Share Agreements help make our Bootcamp accessible to everyone.
The best part is that Income Share Agreements perfectly align incentives - when you win, we win. They create an incentive for us to make our program better every year, and it’ll only cost you more if you land a higher salary. We’re tired of hearing about young people who signed up for university, took on student loans, gave it their all for four years, only to find out that no jobs await them - and that their university wasn’t interested in helping them find their footing. We’re different. We’re here to help you.
Interested in moving forward? When you complete your Bootcamp application, simply select that you are interested in an Income Share Agreement. If you’re admitted to our Bootcamp, you’ll join 39 other students all hungry to change their lives, some who have chosen to pay tuition upfront, and some who are also on Income Share Agreements, though you won't know who's who.
Once you’ve graduated and start earning at least $50,000, we take 17% percent of your gross monthly salary for two years. After that, you’ll be paid off, have a great job, and be earning a nice salary, with a promising future ahead of you. Plus, you’ll know what all of us in the HackerYou community have known all along - changing your career with HackerYou is a no-brainer, now more than ever!
Interested in finding out more about our Income Share Agreements? Find out everything you need to know by clicking below.
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