Your ISA goes into effect on your last day of the Program. However, you won't have to start paying back until after you get a job that pays over $1,000/month.

Once you are employed (and are earning over $1,000/month), you will submit monthly payments to us via our platform. Payments are collected on the 1st of the month, but you will have a 28-day starting grace period until your first payment is due:

For instance, if you start your new job on January 10th, the 28-day grace period puts you past the February 1st payment, thus your 1st payment would actually be on March 1st.

What happens to my payments if I leave my job, go back to school, or take a leave of absence?

If in any given month, any of the following circumstances are true, your payments will be deferred, meaning you will not have payments due that month:

  • Your income drops below $1,000 a month

  • You are unemployed (but actively seeking employment)

  • You are enrolled (at least part-time) in a master's degree

  • You are not able to work due to an illness or disability

I still don't quite understand how payments work, can you provide an example?

The following is an example of a fictional Microverse student and the payments that she makes to Microverse based on a percentage of her salary.

Scene 1:

Mara finishes the Microverse program and spends 2 months looking for a job with the help of her Microverse career coach. While she continues looking for a job, she doesn’t have to pay anything to Microverse, and she will never be forced to accept a job that she doesn't like.

Scene 2:

After 3 months of looking for a job, Mara finds one that pays her a salary of $30,000/year, which is equivalent to $2,500/month. Mara starts her new job on January 10th and starts paying Microverse $375/month (15% of $2,500), on March 1st. Mara keeps the rest of her monthly salary ($2,125) for herself.

Scene 3:

After 6 months in her first job, Mara has already paid Microverse $2,250 (the remaining balance is $12,750). Mara quits her job to find a remote mid-level position at another company. While she is looking for a new job, Mara stops paying Microverse since she is not making any money.

Scene 4:

One month later, Mara finds a new position that pays her $42,000/year, or $3,500/month. Mara resumes her payments to Microverse, now for $525 per month (15% of $3,500).

Scene 5:

Mara is happy with her current position and has been working there for one and a half years. She has already paid Microverse $11,700 (the remaining balance is $3,300). However, she decides to go back to school to complete a master's degree. Mara spends one year in grad school and doesn't make any payments to Microverse while she's enrolled. 

Scene 6:

Mara now goes back to working for her previous company and, due to her new qualifications, she gets a raise. Mara is now making $60,000/year, or $5,000/month. She resumes making payments to Microverse. Within the next 5 months Mara has finished paying the remaining balance of the initial $15,000, and now doesn't owe anything else to Microverse.

In less than 2.5 years worth of work, Mara has paid Microverse $15,000 out of the $103,000 that she has earned working as a software developer. Since Mara is only 25, she still has 40 more years of professional career. Without considering any other salary increases (which she will definitely get), Mara will earn $2.4 million dollars in her professional career. Mara has completely changed her life, all because she invested in her career as a software developer. 

Read more about the cost of the Program here

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