Do you wish to pursue a degree in your desired field, but excessively high tuition rates are holding you back? You are not alone. Despite a solid jobs report, student loan debt exceeded $1.7 trillion with more than 45 million borrowers across the United States. With high-interest rates, an average undergraduate accrues $27,000 in student debt.
Completing a college degree is a costly endeavor, and tuition payments typically make up the more significant part of the fee. Fortunately, many educational institutes today offer deferred tuition fee plans, making it easier for you to achieve your academic goals successfully.
By reducing or deferring the burden of upfront payment, colleges can lower the barriers to entry and encourage more students to learn. This makes it easy for many young men and women to find courses that interest them without worrying about student loan debt.
Unlike the four-year college program, many of these opportunities don’t require you to pay until you find work within a specified salary criterion and period. This, in turn, allows students to utilize this opportunity and enhance their academic futures optimally.
Programs at Lambda School include:
- A six-month course for computer science that teaches significant programming languages, and;
- A seven-month course for data science that prepares the students for a career specifically in machine learning.
All classes take place virtually.
Lambda School doesn’t ask for tuition. Instead, they require students to pay for their education when they get a job that pays a $50,000 salary on an annual basis. Once students receive a job that meets these minimum salary criteria, they must pay back 17 percent of their salary over two years (with $30,000 as the maximum payment cap).
If students don’t find a job that meets these income criteria, they aren’t required to pay a cent. And if they lose their job or their monthly payment drops below $4, 166.66, they can pause the compensation for that particular month.