Holberton School Contracts with Vemo Education to Act as Master Servicer of Unique Tuition Pricing Model
- April 7, 2016
- Posted by: Kerry Schneider
- Category: VEMO Newsroom, Vemo Partners
No up-front costs, income-based payments set once employment begins
RESTON, VIRGINIA (April 7, 2016) – Vemo Education, an education finance company working with U.S. colleges and universities to develop and service value-oriented, income-based student financing programs, announced today that the company has been contracted by Holberton School, San Francisco’s innovative new school for teaching students of any age to be software engineers, to oversee Holberton’s tuition pricing and payment processes.
Holberton uses a project-based, peer learning format rather than traditional degree work to train students as full-stack software engineers. The tuition pricing model charges students no upfront costs while they are enrolled in the 2-year program and only begins to collect payments once the student completes the program and begins working. The payments made are income-based payments set at a fixed percentage of the student’s salary for 3 years.
“We believe that people from every community and background should have the opportunity to learn, and in our school’s case, to become a software engineer. And we believe that in order for a school to be successful, their students should be successful,” said Julien Barbier, co-founder of the Holberton School. “That’s why there’s no upfront cost to join Holberton School, and we only charge a percentage of the internship salary and salary once graduates find a job. Vemo makes the process very simple and straightforward for both the students and the school to offer this tuition model.”
Vemo Education will manage Holberton’s tuition platform and receipt of tuition payments. As experts in the field of income-based education finance, Vemo will guide Holberton in its implementation of income-based tuition pricing and allow the School to focus on educating its students and placing them in technology jobs.
About Holberton School
Holberton School is a project-based alternative to college for the next generation of software engineers.
Using project-based learning and peer learning, Holberton School’s mission is to train the best software engineers of their generation. At Holberton School, there are no formal teachers and no formal courses. Instead, everything is project-centered. The school gives students increasingly difficult programming challenges to solve, and give them minimal initial directions on how to solve them. As a consequence, students naturally look for the theory and tools they need, understand them, use them, work together, and help each other.
Read more about Holberton School:
– Holberton School website
– Holberton School Meetup page
– Holberton School blog
– Facebook page
– Follow Holberton School on Twitter
About Vemo Education
Vemo Education’s mission is to help higher education institutions align the value and the cost of their education by developing custom, value-oriented student financing programs. Providing a full-service approach to its educational partners, Vemo has invested in the infrastructure required to design, price, originate, disburse, and service income-based payment products. Vemo’s management team has extensive experience in education finance and the financial aid sector. Learn more at www.vemo.com.