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How EdAid's Income Share Agreement Works at Flatiron School

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Why an Income Share Agreement?

Income Share Agreements (ISAs) are a form of deferred tuition, allowing you to focus on learning — and not ongoing monthly payments while you are learning with us.  We are pleased to work with EdAid to offer an ISA for our students. With the EdAid ISA, after paying an initial deposit ($750), you pay nothing until after you’ve left your Flatiron School program and are earning at least the required minimum monthly income ($4,250/month) — regardless of job type or industry. 

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Tuition Payment Cap

After you pay your deposit, under the EdAid ISA, you’ll never pay more than 1.5x the ISA portion of the tuition amount in connection with the ISA.

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Learn First, Pay After You're Earning

All that is required is a $750 deposit before classes start to lock in your seat. After that, you don’t pay a cent until you’ve secured a job and are earning the minimum monthly income as outlined below. There are no interest charges or penalty fees if you are earning under the threshold, and not making payment.

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Robust Career Services

Our Career Services team has a proven track record helping students get jobs. You’ll work 1:1 with a dedicated Career Coach on employer networking, C.V. review, and interview prep.

How it works: 4 steps

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Step 1 → Pay your deposit before class

Secure your seat in class with a $750 deposit. If you don’t get a job within six months of graduation and you comply with all of the terms of our Money-Back Guarantee (see those terms here), you get it back.

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Step 2 → Learn and graduate

In every course we offer, Flatiron School’s cutting-edge curriculum teaches you the skills you need to launch a career in tech.

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Step 3 → Go out and get that job

Work 1:1  with a dedicated Career Coach to help you find a job that’s right for you. Our Career Services team is here to support you with a robust employer pipeline, C.V. review, interview prep, and even salary negotiation.

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Step 4 → Start paying back tuition

Once you’re earning at least a minimum income of $4,250/month (equivalent to $51,000/year), make monthly payments equal to 10% of your pre-tax monthly income until you reach the ISA payment cap of 1.5x the ISA amount, make 48 payments, or 96 months have passed since the end of your grace period. Whichever comes first.

Details of the EdAid ISA

The EdAid Income Share Agreement (ISA) aligns tuition payments with post-program income. You’ll make a $750 initial deposit payment upon enrolling at Flatiron School and agree to pay 10% of your monthly gross income once you leave Flatiron School and are earning at least $4,250/month (equivalent to $51,000/year). Following a three-month grace period after graduation (no grace period if you leave the program early), you’ll make a maximum of up to 48 monthly payments over a maximum payment window of 96 months (8 years) — but only when you’re earning at least the minimum income described above. If you’re not earning at least the minimum income, payment is frozen without penalty.

What’s the EdAid ISA?

The EdAid ISA is an income share agreement (ISA): a deferred tuition arrangement for qualifying students in which an amount is credited towards the student’s tuition in exchange for the student paying an agreed upon percentage of post-program income over a defined period of time. This does not remove the financial obligation of tuition, but rather ties it to job outcomes (post-program income) once a student meets the minimum monthly income threshold.

Why is Flatiron School offering this ISA from EdAid? Are there other payment options?

At Flatiron School, we take a student-first approach to education—we want students to be able to focus on learning during their time with us. The EdAid ISA helps to align education expenses with job outcomes (post-program income) and to give students of all backgrounds the opportunity to attend Flatiron School, without worrying about income restrictions during their studies.

We know every student’s situation is unique, which is why giving students a variety of options to pay for their education is our priority. In addition to the EdAid ISA, we also offer student financing through SocietyOne, as well as certain scholarships based on merit, need, and to support diversity in tech.

Who’s eligible?

The EdAid ISA is currently available to students attending our on-campus and online career courses for software engineering and UX/UI design in Sydney, Australia, with more courses and locations to come. Additional eligibility requirements include being an Australian citizen or permanent resident or a New Zealand citizen or permanent resident living in Australia, and being 18 years or older. 

How do payments work?

Students make a $750 initial down payment upon enroling in Flatiron School. All students who graduate from our program receive a three-month grace period after leaving Flatiron School when no payments will be required.  Students who withdraw must repay immediately upon their departure from the program.

After the grace period ends, students will pay 10% of their monthly pre-tax income if the student is earning a monthly gross income of at least $4,250 (equivalent to / $51,000 year). Students will authorise EdAid in advance to collect monthly payments via Direct Debit.

Following the grace period, students have up to 96 months (8 years) to make the 48 required monthly payments required by the EdAid ISA. You won’t make a payment beyond the $750 upfront payment unless you’re making at least $4,250 that month (equivalent to / $51,000 year). Students’ EdAid ISA balance is waived after 8 years if they did not earn at least the minimum monthly income and therefore were not required to make 48 required payments. Payments are not required during months when students’ income is below the minimum income threshold described above.

There is a 1.5x ISA payment cap, meaning students will never pay more than 1.5 times the ISA amount under the EdAid ISA .

Courses where ISAs are available

In Australia, the EdAid Income Share Agreements are available across all courses: Software Engineering (On-Campus and Online) and UX/UI Design (On-Campus and Online). The EdAid ISA is available for Australian citizens and permanent residents, and New Zealand citizens and permanent residents who are living in Australia.

Flatiron School Australia Pty Ltd (ABN 633 514 995 - CR 518832) is a Credit Representative of EdAid AU Pty (ABN 33 136 882 267 - ACL 393327).