McDowell Details Kenzie Academy ISA Plan
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis-based apprenticeship and coding school Kenzie Academy is continuing to grow and is getting ready to start new cohorts in July and October. Former Speak Easy Executive Director Danielle McDowell was recently named named general manager and says the academy is pioneering a new model for technology education.
Kenzie opened enrollment to new students just over a year ago and today has 167 students enrolled in its programs. The institution allows students to graduate in one year with credentials to start careers in the tech workforce.
In an interview on Inside INdiana Business with Gerry Dick, McDowell said the academy has launched an innovative plan to ease the burden of student debt on its students.
“What we’re doing is we are delivering a program called an ISA, or an income share agreement, and what this model does is it allows us to take on a portion of that risk along with our students. So, we’re in this education process together. For $100 down, a student can start within our program and once they graduate, once they hit the $40,000 mark in terms of their employment income, that is when we are all able to win in terms of that income share agreement. So, really de-risking it for the student and ensuring that our organization is invested and incentive to make sure that the outcomes of our students are positive and ensuring that they are in a good place to grow."
In July, the academy will welcome a cohort that is made up of equal parts in-house and remote students.