You can pay the $30,000 tuition in 3 separate installments. Payments are due at enrollment, 25% of program completion, and 50% of program completion.
With our Tuition Refund Guarantee, if you follow our program and still don’t get a job paying at least $50,000 a year (or the equivalent of $4,166 per month) after graduation and after 365 days of job searching, you get a full refund of your paid tuition.
The Retail Installment Contract (RIC) allows you to pay your $30,000 tuition after you graduate and get a high-paying job. Once you get a job making at least $50,000 per year (or the equivalent of $4,166 per month), you will pay 17% of your income until your $30,000 tuition is fully paid.
To be eligible for a RIC, you must be a California resident and a US citizen, permanent resident, or DACA recipient, and have no other active RICs or ISAs.
A Retail Installment Contract and an Income Share Agreement are both contracts under which you agree to pay a percentage of your post-BloomTech salary, but only once you're making more than $50,000 per year (or the equivalent of $4,166.67 per month).
The BloomTech RIC has many of the same student protections as the ISA, including that neither require upfront payments nor accrue interest.
The main difference between an ISA and a RIC is the payment cap. Under an ISA, there are three scenarios in which you would stop paying Lambda School: after making 24 payments, after 60 months of payment deferral, or after reaching the cap. Students who sign a RIC will pay $30,000 regardless of how many payments it takes.
Retail Installment Contracts are currently available as a form of tuition financing for residents of California.
Review these fictional examples to help you understand the grace period before the first payment is due.
Once you begin making at least $4,166.67 per month (pre-tax), you will be required to begin paying 17% of your gross income earned at a "qualified job" (defined below).
Earned Income does not include:
No matter which option you choose, you will be signing legally binding documents that will affect your finances. We'll do everything we can to help you feel confident about your decision.
Reach out with questions at firstname.lastname@example.org. We’re here to help.