For many aspiring tech professionals, funding education can be a barrier to entering the industry. That’s where an Income Share Agreement (ISA) can make a difference. An ISA allows students to learn now and pay later, with repayments based on future income, easing the financial burden and aligning education costs with career success.
Code College has seen this model work firsthand, as in the inspiring story of Xolani, a 2014 matriculant who joined our Java Bootcamp and is now a high-earning Full-Stack Java Developer. His journey highlights how the ISA model can open doors, offering students a path to employment without the weight of upfront fees.
If you’re ready to dive into tech and transform your future, read on to discover how you can apply for Code College’s ISA and follow in Xolani’s footsteps.
What is an income share agreement?
- An income share agreement (ISA) is a financial contract where a person agrees to pay a portion of their future income to a lender in exchange for funds or services now.
- The lender gets a share of the borrower's income until a predetermined amount is reached or a specified period has passed.
- The borrower pays a percentage of their income instead of paying a fixed amount of interest.
Case Study
Here is the story of Xolani, a 2014 Matriculant who enrolled on our Java Bootcamp in 2015:
He is currently our highest-earning alumnus to date, earning a six-figure annual income as a Full-Stack Java Developer at a well-known bank in South Africa.
Since our inception, Code College offered study bursaries to students with potential and without a sponsor. Xolani applied for such an opportunity as he was only reliant on his mother who was a domestic worker at the time. Her employers paid for his school fees and he was an above-average matriculant, passing with a University exemption.
He did not really want to pursue the university option even if he qualified for a SASSA loan, as he felt it will take too long for him to start earning and he was keen to get employed in software development. (Read Coding Bootcamp vs. University Degree).
We invited him for an interview and aptitude test which he passed with flying colours so we decided to offer him the option to study now and only pay back when he finds employment.
As we expected, he was one of the top students in the class. He was also one of the first students to get a job. He quickly started paying back his studies.
We always kept in touch and he stayed involved as a Code College ambassador, student advisor and mentor which can be seen in some of our videos. We did not expect him to pay anything during patches of unemployment in his career.
We tracked his career growth with great interest - he proudly showed us his job contract when he broke through six-figure earnings per annum, 5 years after completing his Java Bootcamp.
How to apply for our income share agreement?
If you have completed Matric recently with a minimum average in all your subjects, (Maths is a plus, but not a requirement if the other subjects were good) - please send us your academic results. We will then invite you for an interview and an aptitude test.
Based upon the outcome of these, you may be offered the Income Share Agreement.
What are the chances of finding employment after completing our studies?
We would not be offering this kind of agreement if we were not confident that you will find employment. If you do not find employment, we also loose and we are in business to create win-win solutions.
Ready to transform your future? Apply now and join the ranks of successful CodeCollege graduates already making their mark in the tech world.
