BrainStation Introduces Income Sharing Agreement Program in Canada

By BrainStation September 26, 2019
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One of BrainStation’s main goals is to continue making premium digital skills training accessible to more professionals.

With this goal in mind, BrainStation is proud to be introducing a new Income Sharing Agreement (ISA) program to our range of payment and financing options. ISAs are a way for BrainStation to greatly reduce financial barriers for students and better align tuition costs with post-program income, ultimately opening up career transforming educational opportunities for a larger group of individuals. 

How ISAs Work

In short, ISAs allow you to learn now, and pay later, in income-geared monthly installments. Or more specifically, pay when you’ve landed a job that earns you a certain income. 

After a student is admitted and signs an ISA at BrainStation, they only have to make a small down payment to start their diploma program. The student is then able to fully complete the diploma program and enter the job market. They will only begin paying back tuition once they’re employed and earning more than a minimum income threshold, which is dependent on region. 

Payment Term Length

The BrainStation ISA features a 96-month Payment Term, which means that payment obligations continue for 96 months or until the payment cap has been paid in full. BrainStation ISAs cap total payment at 1.5x of tuition, an extremely competitive rate relative to many other institutions.

If something happens during the payment term and the student is no longer earning more than the minimum income threshold, payments will be paused until their salary is back up to the base level, which is another benefit of the ISA program. 

Are ISAs for everyone?

BrainStation’s Income Sharing Agreement is currently available for students enrolling in our 12-week diploma programs in Data Science, Web Development, and User Experience Design at our Toronto and Vancouver Campuses. 

It’s important to remember that an ISA is just one of many payment and financing options prospective students should consider when considering a diploma program. After all, every student situation differs depending on financial means, objectives, and background. 

We offer some of the most competitive payment and financing plans in the learning space. Along with ISAs, these options are creating digital skills training opportunities for a much larger group of professionals. So, we encourage applicants to look at the full range of payment options, speak with a financial advisor, and talk to our Recruitment and Admissions Advisors to find the best solution for them. 

At BrainStation, we strive to offer the widest range of options to accommodate the greatest number of students; we feel that’s what democratizing digital learning is all about.

Access Industry-Leading Career Support 

BrainStation diploma students and graduates have access to the Career Success Program, an essential component of the diploma program experience. The Career Success Program begins with the admissions process and extends well past graduation to support students as they search for meaningful employment. 

The program provides assistance with industry networking, resume writing, portfolio development, interviews, and personal branding – with input from technical recruiters, career coaches, educators, and members of the alumni network. 

Why ISAs Matter

Introducing financing models like ISAs is a method that better aligns the cost of education with (actual) student outcomes. The popularity of options like payment plans and ISAs will continue to drive education into an increasingly skills and outcomes-based learning model, ultimately requiring institutions to have a greater stake in their graduates’ success. 

We’re proud to be in a position to take on this risk and open the door to digital learning to a broader demographic of learners – not every institution has the depth and resources to be able to support a program like this. That said, we feel that this will be something that becomes much more mainstream and widely used, it just might take some time for others to follow. 

 

Find out more about diploma programs at BrainStation