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Bootcamp Income Share Agreements | Worth It?
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- čas přidán 14. 08. 2024
- Income share agreements are one of the reasons many people are drawn to some bootcamps. It feels no risk - you don’t have to pay anything until your income hits a certain threshold. But the reality of these data science bootcamp and coding bootcamp income share agreements is they can end up costing a LOT more in the long run.
This video looks at what’s involved in data science bootcamp income share agreements (ISA).
How much will you pay with an Income Share Agreement?
Do you need a specific income for an ISA?
Should you consider an Income Share Agreement to pay for a bootcamp?
Timestamps
0:00 Risk Free Bootcamps
0:28 Bootcamp Payment Options
2:17 Overview of Income Share Agreements
3:43 Income Share Agreement Details (Program 1)
10:27 Income Share Agreement Details (Program 2)
11:47 Income Share Agreement Details (Program 3)
13:53 Are Income Share Agreements a Bad Idea?
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Would you still consider an ISA after learning more about them?
I would never do this kind of financing! Any organization that used this kind of tactic to get students is not a reputable place in my mind. Instead, I am more attracted to Coursera and DataCamp. Western Governors University is another. Stay away from the boot camp that asks you to sell your future.
An ISA agreement at 1.6x is 60%. 2x is 100%. A $15,000 price that turns into $30,000 is DOUBLE. It’s cheaper to put in on a credit card. I’ve never seen a card with interest this high.
$15,000 with a 14.99% interest rate over 48 months would cost $5,000 in interest. That’s still a savings of $5,000 to $10,000 from your example. So, how is it better to take the ISA than use a credit card
Thanks for this information. I didn't really consider ISA to start with, but it's always nice to learn options. (why and why not)
Great video! Super informative! Thank you!!!
I do not want to go in debt to learn data analytics. So, in your opinion, which books could I buy to teach myself? For example, which Tableau book do you think is a good choice? Which data mining book do you suggest? What other types of books should I include in my list of things to study? Thanks for any information you can provide.
Does an ISA show up on your credit report as a debt? I’m concerned about my debt to income ratio.
*_Maybe._* They aren't currently reported in a uniform way. Depending on the program, some hit your credit report and some don't.
As ISAs become more popular, there's more focus from financial institutions on how to handle them. Ideally they'll be standardized in the future. Since you're concerned about debit to income ratio, I'd hesitate to recommend an ISA since even one that doesn't currently hit your credit report may in the future.
How do they find out how much you make? What if you don't give them any info afterwards is that a breach of the contract?
I'm a business analyst looking to improve my data analysis skills to make me more attractive in this difficult job market. I'm looking to advance my excel skills & start to learn sql - do you have any other suggestions?? Thanks