Tuition can be paid before classes begin for any Lambda track and the cost is $20,000. Paying this in installments may be approved. Instead of paying tuition upfront, many Lambda School Students choose to sign an Income Share Agreement (ISA). Students can’t switch from an ISA to upfront payment during class. By day 1 of class Students must have either a signed ISA or paid tuition.
An income share agreement is not a loan. There is no interest or fees charged to the Student in relation to the ISA. It is an obligation to make payments based on future earned income in a technology career. It does not give Lambda School any rights to dictate a Student's employer, career choices or location in the future.
<aside> ⚠️ Important Note: This page explains certain ISA features and terms, but it is not a substitute for and does not override any terms in the Income Share Agreement contract itself. You should read the contract carefully to understand its terms.
</aside>
Under our ISA Students agree to pay 10% of their post-Lambda School income with 60 monthly payments, but only when they are making more than $1,250 per month (that is, $15,000 per year).
For example, if a Student gets a job paying $17,000 a year, they are earning $1417 per month. 10% of $1417 is $142, so they pay $142 that month for their ISA.
Students make 10% payments on their income every month until they have made 60 monthly payments. If their income ever drops below $1250 per month they don’t make a payment that month. Our ISA is also capped at a maximum of $25,000. Students will never pay more than $25,000 under any circumstances.
Student's ISA payments are based on their income so their total cost can be between $0 and $25,000.
Anything a Student pays is spread out over 60 separate monthly payments.
An ISA contract can be payed off early by paying the full payment cap amount of $25,000 at any time.
If a Student's future employer is a partner of Lambda School they may agree to pay their ISA as part of their compensation.
If a Student's income is less than $1250 a month, their account will be place in deferment status. A Student's payment term will be extended for every month their income is below the threshold.
For example let’s say a Student works in a technology job making $3000 per month for 18 months. Then decides to explore another opportunity outside of the technology sector for 36 months. Then the Student returns to a technology job making $1000 a month for a year until they get a raise to $1500 per month.