Income Sharing Agreements

What are Income Sharing Agreements (ISAs) and are they worth it?

Income Sharing Agreements are a relatively novel way of paying your tuition costs. But as with any financial decision, you should think carefully about signing up for any long-term debt agreement – and understand the fine print like the back of your hand. Sometimes a great deal is simply too good to be true.  

 

income sharing agreements

 

According to the HyperionDev Graduate Outcomes Report you can expect, on average, a salary increase of R12 000 per month, equating to an extra R144 000 per annum after completing your coding bootcamp. You need to think carefully if you want to commit a portion of this increased salary to paying off your tuition costs, sometimes for years on end. In the the long term, you could well end up forced to work a job that wasn’t your first pick, to pay back far more debt that you initially bargained for. 

At HyperionDev, we think some things are simpler. Like our various tiers of payment plans, including upfront and installment schedules that make it easier to plan your budget when studying and when you land your first job. And when it comes to our 2018 graduates, 72% found a new tech job within three months after graduating – earning salaries that were all theirs, with no long-term payments to us. 

If you’re keen to change careers or upskill, consider enrolling in a HyperionDev online bootcamp in Full Stack Web Development, Data Science or Software Engineering.  If online learning is not your thing, you could enrol for an immersive, face-to-face Web Developer or Software Engineering course in Cape Town or Johannesburg. Best of all, you can also try any one of these courses for free.

 

Editor’s note: This was post was originally published on 29 April 2019 and has been updated on 12 March 2020.

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