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 Ascent Funding 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 110% refund of your Deferred Tuition.

If you are approved for a TRG refund, BloomTech will forgive 100% of your tuition, cause your lender to refund any amounts paid by you on your loan (including interest and fees actually paid), and offer you a one-time payment of $2,195.00. This payment is taxable.

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.

Ascent Funding 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, US Permanent Residents, or DACA recipients. U.S. temporary residents and other individuals who do not qualify on their own can apply for a loan with a creditworthy co-signer that is a U.S. citizen or U.S. permanent resident.

Loans for BloomTech programs are 60-month loans. The 60-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 60 months of on-time payments, 100% of the outstanding balance will be paid off. Please see the partner page with Ascent Funding for more specifics..

All approved loans for BloomTech programs have a 12.5% interest rate. Interest will accrue on the loan until the loan is fully paid off. Please see the partner page with Ascent Funding for more specifics.

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. Please see the partner page with Ascent Funding for more specifics.

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.

No payments are required when a learner is in school, or searching for a job within the period defined by BloomTech’s Tuition Refund Guarantee. 

Ascent grants up to 12 months of hardship forbearance to help learners navigate difficult times. Additionally, Ascent offers Active Military Duty Deferment up to a cumulative limit of 36 months. However, please note that interest will continue to accrue during any period of forbearance. It is the learner’s responsibility to contact Launch, the loan servicer for Ascent’s bootcamp loans, in the event of extenuating circumstances. BloomTech has no responsibility to contact Ascent or Launch and cannot approve forbearance requests. Please contact Launch for a full list of forbearance options.

Yes, you may begin paying off your loan at any time. There is no penalty for prepayment.

Deferred Tuition is currently available for the Web Development, Data Science, and Backend Development programs at BloomTech.

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. Generally, you can expect to pay anywhere from $500-$600 per month, although this will depend on the amount of interest accrued and the total amount of Deferred Tuition once you begin making payments. Please see the partner page with Ascent for a calculator that will help you project total amount and monthly payments.

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. Please see the partner page with Ascent for a calculator that will help you project total amount and monthly payments.

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 60 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.

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.

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.

While learners who have ISAs with another school cannot sign up for a BloomTech ISA, it does not disqualify them Deferred Tuition eligibility. Ascent will run a soft credit check on all loan applicants. Ascent applicants must be U.S. citizens, permanent residents, or DACA recipients. U.S. temporary residents and other individuals who do not qualify can apply for a loan with a creditworthy co-signer that is a U.S. citizen or U.S. permanent resident. BloomTech recommends reviewing your financial situation to determine if a loan makes sense.

Ascent requires that learners apply for a loan within 90 days of their desired program start date with BloomTech.

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-signer that is a U.S. citizen or U.S. permanent resident.