Lambda School tuition is $30,000. You can elect to pay upfront or via an ISA.
Because ISA payments are based on income and the maximum number of monthly payments is 24, any one student who elects to use an ISA might pay less than the full $30,000 tuition of Lambda School.
If you do not land a high paying job, you do not pay Lambda School anything. If you land a high-paying job, the most you will pay is $30,000.
If you use an ISA, depending on your income after completing your Lambda School program, you will pay somewhere between $0 and $30,000, in 24 monthly payments based on your income.
After you reach the payment cap or complete your 24th monthly payment, you are free of obligation under the ISA.
For example, if you get a job paying $60,000/year, you’re earning $5,000 per month. 17% of $5,000 is $850, so you pay $850 that month for your ISA. You make 17% payments on your income every month until you’ve made 24 monthly payments. The total amount you will pay is $20,400.
Below is a chart illustrating the total amount you will pay under the ISA payment option in various earning scenarios.