[_JasonE]

Hey Lambda team. Congratulations on the ISA program and living stipend! I'm sorry for having so many questions. We have an ISA program as well and I found these to be the most important questions people have about coding bootcamp ISAs:

1. Do the payments begin if the new job is not in-field (not related to Software Engineering)?

2. Is there a grace period or deadline (depending on your point of view) before the payments begin? If so, how is the monthly payment amount calculated?

2. Is there a grace period in the event they stop working after the payments begin?

3. Do the ISA payments kick in if it's not a new job? In other words, if they continue working in a job that makes >=$50K/yr?

4. Are the requirements for participating in your ISA program similar to obtaining a loan? Good credit, no defaults, etc..

Sorry if I missed any of these answers in the announcement or terms. We have been offering an ISA program at our Houston and Atlanta based bootcamp for just over 6 months now and recently adjusted it based off feedback so that payments only kick in when the new job is in-field, includes a grace period, and must be a new job. However, we couldn't do much for the credit history requirements. An ISA is essentially a delayed loan and requires the same (if not stricter) credit history requirements. It's a good alternative to taking out a loan for some, but it's usually not a fallback if you can't get one.

Thanks Lambda team!

[t0mmycollison]

1. The language around what counts as in-field is in our ISA. It's more dependent on what skills you use in your job as opposed to your title. You can see a sample ISA we use at https://lambdaschool.com/faq/.

2. You pay nothing between when you finish the technical portion of the class and when you get a job, and after you start your job, there's a 30-day grace period.

2. The payments stop if you stop working. You can think of them as being 24 monthly repayments that will pause if you lose your job.

3. It does, but only after they finish the technical portion of the class, and they're using the skills they learned. We do look at things on a case-by-case basis.

4. Nope! We don't care about your credit score or your debt load. Things get tricky if you have a fraud conviction, but anything short of that won't impact our decision.

Hope this helps!

[bbg215]

Wait, does #3 imply you enroll students who don't want to work as a programmer after graduating? i.e. a online marketer who wants to learn coding as a skill set.

I would assume these types would be filtered out during the admissions process.

[_JasonE]

Thanks for answering those - Sounds like a great program!