Income Share
Agreement (ISA)
Study now, pay later. Only start paying once you land a job and earn above R15,000 per month.
Study now.
Pay later.
At Codeeza, one of the options to finance a student's studies is an Income Share Agreement (ISA). ISAs allow you to pay for your education in exchange for a percentage of your future income. Instead of paying once off or on a monthly basis, you'll only pay a deposit of R5,000 and the balance once you graduate and find a job that pays you over a certain amount of money.
Our students would pay at least 20% of their gross income, once they start working and would pay up until they reached the total agreeable outstanding amount of R20k. However, if you don't earn over R20k after finding a job, you will not be required to make payments toward an ISA immediately. This is one way an ISA works to reduce the financial burden on students.
Income Share Agreements (ISA) are legal in South Africa.
In fact, the ISA model has been used in South Africa to improve access to quality education for excluded youth. However, an ISA is not regulated by the National Credit Regulator (NCR) and is not subject to the National Credit Act (NCA).
ISA vs. Monthly Installments:
Below is an illustration of the 2 payment options if a student takes both Full Stack Web Development and Software Engineering Courses (12 months)
[ISA] Only Deposit. No monthly fees during (6 month) studies.
Deposit is R5,000. The TOTAL balance [ISA] payable when you are employed is R20,000
FOR EXAMPLE:
About 20% of a student's future salary will be payable:
- - Earnings of R20k p/m = R2,000 pm (20%) x 10 months
- - Earnings of R25k p/m = R2,500 pm (20%) x 8 months
Monthly Installment
R3,500 per month x 6 months
TOTAL: R21,000
Student pays NO PERCENTAGE of his/her salary or earnings once they start working.
Am I eligible for an ISA?
To be eligible for an ISA, you
- Must be a SA citizen or have permanent residency in SA.
- Cannot be employed or enrolled in other studies.
- Must be available at least once a week for a consultation session: anytime between 1pm and 5:00pm
We have limited spaces available for each ISA intake. All ISA applicants go through a rigorous selection process and do not automatically qualify for ISA funding. Only the most talented and dedicated applicants who meet all the eligibility criteria are invited to join our ISA-funded Software Development program.
Apply for an [ISA]Key Benefits of an ISA
Low Upfront Cost
Only pay a R5,000 deposit to start. No monthly fees during your 6-month studies.
Income Protection
If you earn below R20k/month after graduation, you don't have to make any payments.
Aligned Success
We succeed when you succeed. We're invested in helping you land a great job.
Ready to start your coding journey?
Apply now for our Income Share Agreement program and start learning without the financial burden.
Apply Now