If you don’t get a job, your education is free

Posted on May 8th, 2013

Imagine a school where they only make you pay tuition if you get a job. Sounds like a pretty good deal, right?

App Academy, an intensive software development course in New York City and San Francisco, makes that promise. Check out the video below from Ebru News for information about the school, its students, and its innovative tuition model.

How it works

Students pay no tuition while enrolled in the nine-week course. If students receive a tech job within a year of graduating, they must forward 15 percent of their annual base salary to the school. But the education rarely ends up free, and that’s a good thing. App Academy says 93% of its graduates have received offers or are working in tech jobs.

To make it easier on graduates, the 15% payment is deducted incrementally from the graduate’s bi-weekly paycheck for the first six months of employment. With the average starting salary for its graduates at $83,000, it works out to about $12,000 total. Not bad compared to the four-year debt totals students rack up at some elite schools.

The way of the future?

Will other universities follow App Academy’s lead in giving students a low-risk tuition model? The unemployed and under-employed college graduates out there could certainly have benefited from attending a school with this model. As more attention is brought to the student debt crisis and skyrocketing college costs, it will pave the way for more innovative college tuition models like that of App Academy.

Until then, it’s more important than ever to be diligent in your college search, apply for scholarships, and carefully assess the value of your college choice. As always, if you need help, feel free to reach out or give us a call at 1-888-234-3907.

Category: College Costs

Tags: , , , , ,