Student Lifecycle: Story of Michael
Michael has been a medical assistant for two years for a hospital system in Cleveland. In order to learn a new trade that would put him on a path to economic mobility, he decides to pursue a data mining certificate. As Michael researches his program options, he’s discouraged by the upfront costs required of returning to school, not knowing if taking out a loan will pay off.
Luckily, there is a training provider that offers an immersive six month data science training program with an ISA option. The program’s ISA requires no upfront payment and is for six percent of income for three years, with a minimum income threshold of $40,000. Because Michael is making less than $40,000 in his current role as a medical assistant, he won’t have to pay unless he can get a relevant job that pays him significantly more than he’s currently making.
After finishing the program, Michael applies for jobs that require data science skills. He lands a job as a data scientist with a starting salary of $52,000 at a nearby healthcare provider and begins to make affordable payments based on his income.