Income Share Agreement (ISA)
The Lambda School Income Share Agreement (ISA) is a form of deferred tuition under which you agree to pay 17% of your post-Lambda School salary for 24 months, but only once you're making more than $50,000 per year (or the equivalent of $4,166.66 per month). The ISA is capped at $30,000, so you'll never pay more than that for any reason. And if you don't get hired? You never pay.
You will only have to make monthly payments when you are working in a "Qualified Position." However, a "Qualified Position" is any type of role in any field where your participation in Lambda School helped you get the job, even if it's not directly associated with the track you were in. You will then continue to make monthly payments until you’ve paid 17% of your income for 24 months, you reach the $30,000 payment cap, or you’ve deferred payments for a total of 60 months.
Learn more about the Lambda School ISA
You will only have to make monthly payments when you are working in a "Qualified Position." However, a "Qualified Position" is any type of role in any field where your participation in Lambda School helped you get the job, even if it's not directly associated with the track you were in. You will then continue to make monthly payments until you’ve paid 17% of your income for 24 months, you reach the $30,000 payment cap, or you’ve deferred payments for a total of 60 months.
Learn more about the Lambda School ISA
California Retail Installment Contract (RIC)
Tuition for California residents is $30,000. You can choose to pay tuition upfront, pay in installments, or defer tuition until you get a job making $50k or more using a California Retail Installment Contract ( CA RIC). The CA RIC allows you to pay your $30,000 Lambda School tuition over time, via payments of 17% of your income.
The CA RIC has many of the same student protections as the ISA, including that neither require upfront payments nor accrue interest. The main difference between an ISA and a CA RIC is that students who sign a RIC will be required to pay $30,000 total regardless of how many payments it takes.
To be eligible for a CA RIC, you must be a California resident and a US citizen, permanent resident, or DACA recipient, and have no other active RICs or ISAs.
Learn more about the California RIC
The CA RIC has many of the same student protections as the ISA, including that neither require upfront payments nor accrue interest. The main difference between an ISA and a CA RIC is that students who sign a RIC will be required to pay $30,000 total regardless of how many payments it takes.
To be eligible for a CA RIC, you must be a California resident and a US citizen, permanent resident, or DACA recipient, and have no other active RICs or ISAs.
Learn more about the California RIC
Tuition Installments
Students who choose not to use a deferred tuition option like an Income Share Agreement (ISA) or Retail Installment Contract (CA RIC) have the option to pay upfront tuition in three installments. Depending on the state you live in, your payment schedule and the amount you’ll be required to pay may vary. Tuition for students in California, Washington DC, Georgia, and Texas is $30,000. For students in all other states and international students, tuition is $15,000.
Once you are enrolled and have selected the tuition installment payment plan, you will receive an emailed invoice for each installment due. You can make your payments via ACH, wire transfer, or check.
Learn more about paying tuition in installments
Once you are enrolled and have selected the tuition installment payment plan, you will receive an emailed invoice for each installment due. You can make your payments via ACH, wire transfer, or check.
Learn more about paying tuition in installments
Upfront Tuition
Students who choose not to defer tuition or pay in installments may pay their state's full tuition amount upfront. Lambda School tuition in California, Washington DC, Georgia, and Texas is $30,000. For residents of all other states and international students, tuition is $15,000.
Once you are enrolled and have selected the upfront tuition option, you will receive an emailed invoice that you can pay by ACH, wire, or check. To make an ACH payment use the link in your invoice email. To make a wire or check payment, follow the instructions in the invoice email. You may make multiple payments toward the total amount as long as your tuition is paid in full by the enrollment deadline for your cohort.
Learn more about paying tuition upfront
Once you are enrolled and have selected the upfront tuition option, you will receive an emailed invoice that you can pay by ACH, wire, or check. To make an ACH payment use the link in your invoice email. To make a wire or check payment, follow the instructions in the invoice email. You may make multiple payments toward the total amount as long as your tuition is paid in full by the enrollment deadline for your cohort.
Learn more about paying tuition upfront
Tuition Refund Policy
Lambda School’s refund policy may vary depending on the state you live in and which tuition option you selected. Please check your enrollment agreement for your state's specific refund policy.
Tuition Questions
What happens to my tuition if I withdraw from Lambda School?
We reduce the total obligation for people who leave Lambda School, based on completion of sprints. For full-time students, a sprint is one week long. For part-time students, a sprint is two weeks long.
The timing for when your tuition and/or ISA may be canceled completely, versus pro-rated, versus fully due may vary by state depending on the rules in your state. Please see your Enrollment Agreement for the most up-to-date information. In every state, you can cancel your ISA within 4 weeks of your cohort start date.
The timing for when your tuition and/or ISA may be canceled completely, versus pro-rated, versus fully due may vary by state depending on the rules in your state. Please see your Enrollment Agreement for the most up-to-date information. In every state, you can cancel your ISA within 4 weeks of your cohort start date.
Do I need to be a US citizen to be a student?
Income Share Agreements are available to people who live in the US who are US Citizens, US Permanent Residents, or DACA recipients. Other people can still attend Lambda School by paying the tuition upfront. Almost all courses are taught on Pacific time so it's important to think about how you will adjust according to your time zone.
What options do I have if I experience financial hardship?
The Lambda School ISA has built-in protection for financial hardship. Should you lose your job or should your income drop below $4,166 per month, your payments will automatically be paused after you’ve reported the change. That said, we understand that unique and unforeseeable financial emergencies sometimes occur.
In this situation please contact your ISA program manager (Leif or Meratas) to discuss available options rather than letting your account go into default. While we cannot guarantee your situation will qualify for any changes or deferment, we want you to know that we want the best for you and your family, and will do what we can to help in times of extreme financial hardship.
In this situation please contact your ISA program manager (Leif or Meratas) to discuss available options rather than letting your account go into default. While we cannot guarantee your situation will qualify for any changes or deferment, we want you to know that we want the best for you and your family, and will do what we can to help in times of extreme financial hardship.
What payment options are available to California residents?
California residents may elect to pay their tuition through either (i) payment of $30,000 or (ii) signing a retail installment contract. A retail installment contract is an agreement which requires you pay Lambda School $30,000 in installment payments. Full-time students who do not sign a RIC are required to pay $15,000 upfront with the balance due after the program is 50% complete. Part-time students owe $7,500 upfront with the $22,500 due when the program is 50% complete.
How does a California retail installment contract differ from an ISA?
The Lambda School retail installment and ISA are each contracts under which you agree to pay 17% of your post-Lambda School salary for 24 months, but only once you're making more than $50,000 per year (or the equivalent of $4,166.66 per month). The main difference between the two contracts is that a student can satisfy a Lambda School ISA by paying $30,000, making 24 payments, or after 60 months of deferred payments. A student can only satisfy a retail installment contract by paying $30,000.
