So the actual interest is like 100%? Though it's fixed over a 5 year period, so that turns to around 30% yearly interest rate. Hardly zero.
-> Most people that get jobs in tech will have paid the 150% before the 5 year mark
That's even higher interest for these people. But I guess it's an incentive for the program to get people good jobs.
In straight amortization using $30k tuition, $45k repayment, over 60 months is $750/mo which works out to 17.25% rate.
It isn't a great deal but it's not terrible vs. other low recourse private loan options.
So the actual interest is like 100%? Though it's fixed over a 5 year period, so that turns to around 30% yearly interest rate. Hardly zero.
-> Most people that get jobs in tech will have paid the 150% before the 5 year mark
That's even higher interest for these people. But I guess it's an incentive for the program to get people good jobs.