Opportunity@Work has developed a financing model to ensure that tuition costs are not a barrier to opportunity. Our model allows students, who otherwise cannot afford coding bootcamps or receive traditional loans, to enroll in training and pay at a monthly rate once they have earned a job.

If you dream about becoming a tech professional but lack the necessary finances or feel breaking into the tech world with your background is impossible, this is your opportunity to make your dreams a reality.

Why Talent Equity Fund?

How is the Talent Equity Fund Different?

The Talent Equity Fund is different in that XXXX

Opportunity@Work Talent Equity Fund Private Loan
What is my obligation? You pay 6.5% of your income each month - only if you make over $35K for the year. You pay $330 each month - regardless of how much you earn - based a average loan for $15,000 with X% interest for Y years
How affordable is this? Never exceeds 6.5% of your income. With an expected salary of ~$55Kper year from the program, this is ~$300/mo. You pay $330 each month - regardless of how much you earn. That is ~7.2% of income for an expected salary of $55K per year.
How long is my obligation? Finished after 5 years from graduation - irrespective of how much you have paid back in that time period. If you make under $35K, you do not pay and your period is NOT extended. Varies by loan, but can extend indefinitely if principal and interest not fully paid
What is the interest rate? There is no interest rate. Generally between 6-15%. If payments are deferred during school or during a hardship, interest accrues and the amount to be repaid grows.
What happens to my payments if I'm unemployed? No payments when you're earning below $35K and no interest accrues. Some forbearance options, but you continue to owe payments and your loan obligation will grow due to interest accrual.
Credit score minimum? Credit score not a factor in either the financing decision or in the terms. No cosigner required. Usually require a minimum score of 620. Pricing and terms can change and cosigner may be required based on credit history.
Can I prepay? Yes, pay 1.5X the obligation. Payments you make go towards support future students. Yes, pay principal + interest.
Is there a cap on how high my payments will go? Yes. In any given year, you will not pay more on any income above $90K. Payments you make go towards support future students. No, your payments increase when you accrue unpaid interest.

Frequently Asked Questions

Below are a range of frequently asked questions related to Opportunity@Work and the Talent Equity Fund. If you have a question that is not answered below, please do not hesitate to contact us here.


The Basics

How does an income sharing agreement differ from a loan?
Unlike a traditional student loan, an ISA has no interest and recipients agree to pay a constant percentage of their income for a set payment term. In our model recipients repay at a fixed percentage of 6.5% of their income for 5 years. All payments go towards financing future training recipients. 

What are the benefits of this program?
When you fund your education with an ISA, you can focus on succeeding in school and pursuing the career path that makes the most sense to you. Your payments adjust with your income so they are always affordable. Unlike a traditional debt-based option, such as a student loan, an ISA has no interest and you will not be obligated to pay a fixed amount over the term of the agreement. Instead, since your payments will adjust with your income and you could end up paying more or less than the amount advanced by the fund

Am I required to fully pay the money that was given to me under the ISA?
An ISA recipient is simply required to pay the agreed upon percentage of post-graduation income for the prescribed term of the contract. After making successful payments over that term, no additional payments are required even if they have paid less than the amount of funding they received.

What are the risks to students?
The amount of payment is based on income, so if a student commits to an ISA and earns a high income after graduation they may pay more to the fund than they would have with conventional debt. However, our ISA caps the total amount paid at 2.5 times the amount received. 

How will I receive my ISA funds?
Funds will be sent directly to your training provider and will be processed through its student accounts office. 

What is Lumni and how will I keep track of my ISA?
Lumni is a secure, student-friendly ISA application and servicing partner. Lumni provides a simple online portal and student managers to help you with your ISA every step of the way, from sign up through repayment. The Lumni portal is where you'll go to keep track of funding, disbursements, record keeping, and repayment. And Lumni's dedicated student managers are reachable by phone, email, messaging, and skype -- so you'll always have someone to turn to when you have a question.

Following graduation, when does the ISA Fund payment plan take effect?
Students are afforded a six-month grace period after graduation or the commencement of employment before payments are required.

ELIGIBILITY AND APPLICATION

Do I need a cosigner to take an ISA?
There is no cosigner requirement to participate in this program.

Am I required to work in a particular field after school?
There is no requirement that you work in a particular field or that you work at all. The ISA is designed to enable you to pursue the career path about which you are most passionate.
 

Contact Us

Still have questions about our Talent Equity Fund? Contact Opportunity@Work directly with the form below. 

 
Name *
Name