tuition option

Deferred Tuition

Learn now, pay later. It is our mission to improve the financial future of our learners. Our entire curriculum has been designed to be the most direct path to getting our learners high paying jobs after graduation, and the new deferred tuition option backs our commitment. With $0 upfront and our 110% Tuition Refund Guarantee, Deferred Tuition brings your career goals within reach.

Enroll before January 4th and take advantage of up to $3000 in tuition reductions (terms apply), available to learners residing in the United States that select Deferred Tuition.

How it works

  • You'll apply at Climb Credit for a loan to pay BloomTech's tuition.

    Climb Credit applicants must be U.S. Citizens or U.S. Permanent Residents. U.S. temporary residents and other individuals who do not qualify on their own can apply for Deferred Tuition with a creditworthy co-borrower that is a U.S. citizen or U.S. permanent resident.
  • Once approved, you pay $0 in tuition upfront. You will not be required to make payments and may defer your loan while you are in school, or for up to three months of job searching after graduation. Like a traditional loan, it will accrue interest at a fixed rate (ranging from 8.45% to 18.95%) during any deferment and until the loan has been completely paid off.
  • Once you graduate and receive any combination of positions paying $50,000 or more pre-tax per year (or $4,166 per month for at least 3 consecutive months), you’ll start paying back your Deferred Tuition.
  • Once in repayment, you’ll make fixed monthly payments for 72 months. Payments are predictable and do not change based on your income. That means you’ll pay the same amount whether you make $50,000 or $150,000.
  • Deferred Tuition is backed by BloomTech’s 110% Tuition Refund Guarantee. If you graduate, follow our job search program, and don’t secure positions paying the Qualifying Amount within 1 year of graduation, you’ll owe nothing, and we pay you.
more about deferred tuition
110% GUARANTEE

Our 110% Tuition Refund Guarantee

If you choose to pay your tuition upfront or with the Outcomes Based Loan, you may qualify for our Tuition Refund Guarantee. We’re so confident that our programs provide a direct path to a high paying job that we offer the following guarantee:

If you qualify for our Tuition Refund Guarantee, fulfill the requirements, and still don’t get a job paying $50,000 a year (or $4,166 a month) within 365 days after graduation, you don’t have to pay, and we pay you an additional 10%.

how to qualify

How to get help with your
Deferred Tuition

Make sure you have read your agreement in full and understand the terms before you sign.

If you have any questions, please reach out to Climb Credit.

Climb Credit

Support email:
hello@climbcredit.com

Mon - Fri 7am - 5pm PT
Schedule a support call with a Climb Credit representative here

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Pay Up Front

Pay $21,950 in a single payment
or 3 installments. If you don't get a job, you may qualify for a full refund.

How it works

Income Share Agreements

After a down payment, pay a small percent of your income only if you land a high paying job. If you don't earn at least $50K, you don't pay.

How it works

Deferred Tuition Questions

Important Note: The FAQs below explain certain tuition and Deferred Tuition features and terms but do not override any terms in the loan itself. Students should read their Enrollment Agreement, loan contract, and Tuition Refund Guarantee carefully to understand their terms. All offers are subject to change.
What is Deferred Tuition?
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It is our mission to improve the financial future of our learners. Our entire curriculum has been designed to be the most direct path to getting our learners high paying jobs after graduation, and the new Deferred Tuition option backs our commitment. With deferred tuition, you’ll pay no tuition upfront to attend BloomTech. You’ll apply for a loan through Climb Credit to finance the upfront tuition amount ($21,950) of your BloomTech program. If after 365 days of receiving a Certificate of Completion from a BloomTech program, you are not earning or have received offers for at least $50,000 a year (or the equivalent of $4,166 per month for 3 consecutive months) in compliance with the Tuition Refund Guarantee (TRG), you may be eligible for a 100% refund of your Deferred Tuition and an additional payment of 10%.

If you are approved for a TRG refund, BloomTech will forgive 110% of your tuition, cause your lender to refund any amounts paid by you on your loan (including interest and fees actually paid), and pay you an additional 10%.

Student borrowers who would like to apply for a TRG refund must do so within 30 days of the Termination Date listed in their Tuition Refund Guarantee.
Am I eligible for Deferred Tuition?
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Climb Credit will conduct a soft credit check for all individuals applying for a loan. Loans to finance BloomTech tuition are available to individuals who are US Citizens or US Permanent Residents. U.S. temporary residents and other individuals who do not qualify on their own can apply for a loan with a creditworthy co-borrower that is a U.S. citizen or U.S. permanent resident.
What is the term of a loan for a BloomTech program?
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Loans for BloomTech programs are 72-month loans. The 72-month term does not include the time a learner spends in school at BloomTech or the amount of time spent looking for and securing a job offer. After 72 months of on-time payments, 100% of the outstanding balance will be paid off.
What is the interest rate?
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All approved loans for BloomTech programs have a fixed interest rate ranging from 8.45% to 18.95%. Interest will accrue on the loan until the loan is fully paid off.
Are there other fees associated with the loan?
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Approved borrowers will be charged a 5% origination fee (one-time) in addition to the interest that accrues over time on the outstanding loan principal balance. The origination fee helps cover administrative fees associated with originating the loan. It is added to the loan principal and is paid off over the term of the loan.
Does this mean that learners who take longer to complete their program and find a job pay more?
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Because interest will continue to accrue during the periods when a learner is (1) in school and (2) in the job search, those who spend longer completing their BloomTech program or finding a job after graduation will accrue more total interest on their loan than those who graduate and secure employment sooner.
When does a learner start making payments on the loan?
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No payments are required when a learner is in school, or for up to a year after graduation. All learners are granted an automatic 3 month deferment period at graduation; additional deferment is available by request to Launch Servicing.
Can a learner begin making payments on their loan early (i.e., before they have secured a job)?
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Yes, you may begin paying off your loan at any time. There is no penalty for prepayment.
What BloomTech programs is the Deferred Tuition available for?
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Deferred Tuition is currently available for the Web Development, Data Science, and Backend Development programs at BloomTech.
What will monthly payments be with the loan?
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The exact monthly amount will depend on a number of factors, namely the length of time a learner spends in school and subsequently spends in the job search upon receiving a BloomTech Certificate of Completion.
What is the total amount I will pay if I elect Deferred Tuition option?
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The total amount learners who finance their tuition with a Deferred Tuition will pay varies based on how long it takes a learner to complete their BloomTech program and subsequently how long they spend searching for a job.
How is Deferred Tuition different from an ISA?
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There are several ways in which Deferred Tuition differs from a BloomTech ISA:

Learners who finance their BloomTech tuition with Deferred Tuition and graduate are eligible for BloomTech’s Tuition Refund Guarantee (TRG). The TRG is not available to learners who sign up for a BloomTech ISA.

Whereas ISA monthly payments scale based on income (meaning you pay more if you land a higher paying job, but in no event more than a total of $40k), monthly payments are fixed with the Deferred Tuition. You’ll pay the same amount each month whether you’re making $50,000 per year or $150,000 per year. 

The term of the loan is fixed, whereas BloomTech ISAs can have a variable term. You’ll make 72 monthly payments on the loan (assuming no prepayment), compared to up to 48 monthly payments with an ISA. A BloomTech ISA has a maximum total term of 95 months.
How does the Deferred Tuition vest?
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Deferred Tuition taken out to finance tuition for a BloomTech program will begin vesting once a learner has completed the first sprint of their program. Deferred Tuition fully vests after a learner has started a number of sprints equal to 50% of their BloomTech program length. For 24-sprint programs (Full Stack Web Development and Data Science), the loan is fully vested after the start of the 13th sprint. For 36-sprint programs (Backend Development), the loan is fully vested after the start of the 19th sprint. Vesting schedules may vary by state; please read your Enrollment Agreement for the most up-to-date information.
What happens if a learner selects Deferred Tuition but does not complete their BloomTech program?
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Regardless of your state of residency, you will owe no tuition if you withdraw within the first sprint of your BloomTech program. Learners who start the 2nd sprint of their BloomTech program but do not graduate from their program will still be responsible for paying off their loan. They may not be responsible for paying back 100% of the loan, depending on when they withdrew or were withdrawn from their BloomTech program. Generally, the principal amount of the loan is 100% vested at 50% program completion, although policies may vary by state. Learners should check their Enrollment Agreements for more specific information.
Is the Deferred Tuition available in California?
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Yes, the Deferred Tuition is now available to California residents.
Can I have another ISA with another school (not BloomTech) and still qualify for Deferred Tuition?
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While learners who have ISAs with another school cannot sign up for a BloomTech ISA, it does not disqualify them Deferred Tuition eligibility. Climb Credit will run a soft credit check on all loan applicants. Climb Credit applicants must be U.S. citizens or permanent residents. U.S. temporary residents and other individuals who do not qualify can apply for a loan with a creditworthy co-borrower that is a U.S. citizen or U.S. permanent resident. BloomTech recommends reviewing your financial situation to determine if a loan makes sense.
When should I apply for the loan?
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Climb Credit requires that learners apply for a loan within 90 days of their desired program start date with BloomTech.
Can someone else take out the loan for me?
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No, the loan must be associated with the individual attending BloomTech. Individuals who do not qualify on their own can apply for a loan with a creditworthy co-borrower that is a U.S. citizen or U.S. permanent resident.

Get some advice

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.

Talk to our support team

Reach out with questions at support@bloomtech.com or book a call with an Enrollment Coach. We're here to help.

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