- School Rebrands to Reflect a New Business Model That Increases Access to Rewarding Careers in Tech.
Lambda School, the online technology school dedicated to breaking down systemic barriers to economic mobility, has changed its name to Bloom Institute of Technology (BloomTech). This new identity better aligns with the school’s mission of cultivating opportunity for learners not well served by traditional higher education.
“Everyone deserves better paths to financial mobility,” said Bloom Institute of Technology CEO Austen Allred. “We’re helping learners overcome barriers to rewarding careers by giving them a much-needed alternative to traditional higher education.”
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BloomTech partners with employers to understand current and emerging workforce needs and uses those insights to design course offerings that train people in precisely the skills employers want. The school focuses on helping learners graduate work-ready via intensive, role-based training and career coaching delivers qualified, ready-to-hire candidates.
As part of their mission to expand learners’ access to better education, BloomTech is introducing new tuition options that allow students to choose the best payment structure for their circumstances. BloomTech still invests in learners by taking on part of the financial risk of education and, for those who qualify, by guaranteeing that graduates find a job paying $50,000 a year or more, within a year of graduating, or they do not have to pay. New tuition payment options include*:
- An Outcomes-Based Loan for the full tuition of $21,950, which requires no upfront payment. If a student graduates and is unable to secure a job paying $50,000 per year (or $4,166 per month) or more after 365 days of job search, the school’s 110% Tuition Refund Guarantee refunds the entire loan, including fees and interest from an approved lender, and directly pays the graduate 10% of their tuition.
- Full upfront tuition of $21,950. Similarly, if a student graduates and is unable to secure a job earning $50,000 per year (or $4,166 per month) or more after 365 days of job search, the school’s 110% Tuition Refund Guarantee refunds the entire payment, and directly pays the graduate 10% of their tuition.
- An income share agreement (ISA) where students pay a $2,950 down payment and, once they are employed and earning $50,000 per year (or $4,166 per month) or more, pay 14% of their income for up to four years (capped at a maximum of $40,000).
- An ISA where students pay a $7,950 down payment and, once they are employed and earning $50,000 per year (or $4,166 per month), pay 14% of their income for up to three years (capped at a maximum of $30,000).
“We want to make it possible for anyone to earn a competitive salary, have a rewarding career, and comfortably pay for their education,” Allred said.
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BloomTech will continue its mission to offer exceptional education closely aligned with market demand; to further expand opportunities, the school is increasing flexibility for learners. In February 2022 it will launch a 10-week Web3 Development course, covering the basics of blockchain, the Ethereum ecosystem, and how to write and deploy smart contracts in Solidity. Designed for working professionals wanting to upskill when it’s most convenient for their schedules, this course will allow learners to complete the curriculum at their own pace with optional live sessions for additional support.
Labs, part of the curriculum that allows for hands-on experience working with teams and shipping products, will continue to be a critical part of learners’ education and professional development. As the capstone to their BloomTech programs, learners will work to build and ship real products.
In addition to educating students in the hard skills of data science, backend development, full stack web development, and soon, Web3 development, BloomTech remains committed to teaching the soft skills that enable graduates to thrive in their careers. BloomTech also provides learners with career coaching, connection with a growing alumni community and access to the school’s hiring network, where they can explore job opportunities that fit their skills and goals.
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