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MentorWorks is changing the game when it comes to education finance and career enhancement tools, providing students with the flexibility to pursue their chosen career path with an ISA which is a flexible, innovative alternative to traditional, private loans.

As part of our innovative “fund and support” model, the MentorWorks Income Share Agreement (ISA) program – issued by Blue Ridge Bank, N.A. – offers ISA financing with career development and professional mentoring, as well as access to employers through our online Talent Accelerator Platform.

To accelerate career paths for individuals interested in becoming software engineers and  web developers, we’ve partnered with Colaberry, enabling the coding bootcamp to offer ISA financing to complete their programs. Unlike a loan, students do not pay until they find a job and reach the minimum income threshold.

MentorWorks Education Capital, Inc. is a Community Development Financial Institution (CDFI), certified by the U.S. Department of the Treasury.

What Income Share Agreements Are & How They Compare to Loans

 

WHAT IS AN ISA?

Income Share Agreements (ISAs) are a flexible alternative to traditional, private loans. Basically, students pay an affordable percentage of their future income for a set period of time, up to a maximum cap, without accruing interest. Unlike a loan, students do not pay until they find a job and reach the minimum income threshold. The payments adjust according to the level of the student’s income – providing downside protections for the student. ISAs may be issued by Blue Ridge Bank, N.A.

HOW PAYMENT WORKS

  • Students do not pay until they find a job and reach the minimum income threshold
  • The payments adjust according to levels of the student’s income
  • Monthly payments are calculated by applying the income share rate to the total monthly earned income
  • ISA obligations can be ended earlier by making early payments as listed in the early payment schedule

ISA vs. STUDENT LOAN COMPARISON

Income Share Agreements     VS.       PLUS/Private Loans
Interest does not accrue or capitalize. Interest accrues and capitalizes.
Your credit score does not affect the terms of your ISA. Your credit score may affect the terms of your loan and could impact your eligibility.
Monthly payments are based on a percentage of your income. You pay a fixed amount each month, regardless of your income.
Payments don’t start until you make above the minimum salary level in your ISA contract. You make payments, even if you are not making an income.
You only make ISA payments within a specific timeframe, usually 5-7 years. After that your obligation is over. Loan payment term can extend indefinitely until you pay off the principal and interest.
You know the maximum amount you’ll pay, no matter what. Interest is capitalized, so the final payoff amount can increase over the life of the loan if you do not make minimum monthly payments.

Colaberry’s mission is to empower individuals and organizations to reach their full potential by unlocking the power of data. Colaberry transforms data from an obstacle into an asset, and ensures that their clients are set up to not only succeed – but thrive – in today’s technology-powered world.

Colaberry began as a small group of dedicated and passionate technologists, committed to serving our community. At the heart of their mission was the desire to honor US military veterans by equipping them with skills and knowledge to pursue rewarding civilian careers–all for free.

The first cohort of five veterans was an instant success. Soon, Colaberry had others knocking on their doors. In 2012, the growing demand for their program led them to turn their part-time passion project into a full-time operation, known now as Colaberry. They expanded their mission to serve individuals from all backgrounds and have been transforming lives ever since.

Data Analytics

Learn effective tools and strategies to become a data-driven decision maker. Colaberry’s instructor-led course will empower you to derive insights from data, and to tell compelling stories from your data analysis using dashboards and visualizations.

Companies across all industries are in need of data thinkers. Jobs of the future will require employees who are equipped to understand, categorize, and report data insights to all levels of their organization. Their courses combine instructor-led lessons with project-based assignments.

  • Flexible 6-to-12-week courses
  • On campus and online offerings
  • Dedicated instructors with real-world experience
  • On-the-job support for a year after graduation
  • Job interview practice workshops

Phase I: Technical Training

Module I: SQL Server

  • SQL Server Development Tools
  • Query Editor Features
  • Working with Tables
  • Selecting and Grouping Data
  • Constraints
  • Limiting and Sorting Data
  • System Functions
  • Working with Variables
  • User Defined Function
  • Implementation and Best Practices for Temporary Data Structures
  • Combining Data from Multiple Sources – Joins
  • Developing and Implementing Stored Procedures
  • Creating and Managing View and Triggers
  • SQL Review

Module 2: SSRS

  • Introduction to the SSRS Architecture
  • Charts and Graphs
  • Tables Matrix and Drilldowns
  • Parameters
  • Sub reports and Drill through
  • Report Manager and Report Automation

Module 3: SSIS

  • Extract, Transformation and Load Basics
  • Variables & Expressions
  • Data Profiling
  • Auditing & Error Handling
  • Package Design Considerations
  • Package Deployment & Storage

Phase II: Career Accelerator Program

  • Module 1: Portfolio Creation
  • Module 2: Interview Practice

 

Data Science

Acquire the key skills to become a data scientist and join one of the hottest fields in tech today. Their course will provide you with a well-rounded understanding of mathematical and computational tools, that you will put to use to gain valuable business insights.
Their program will cover the theory and application of data science. You will learn how to ask the right questions, perform large-scale data analysis, and visualize your findings in compelling ways. Our courses combine instructor-led lessons with project-based assignments.

  • Three (3) 8-week courses
  • On campus and distance learning options
  • Dedicated instructors with real-world experience
  • On-the-job support for a year after graduation
  • Job interview practice sessions

Phase I: Technical Training

Data Science 1 – Python Essentials and Data Handling

  • Module 1: Python for Data Scientists
  • Module 2: Data Handling 101 for Data Scientists

Data Science 2 – Foundations of ML

  • Module 1: Basic Unsupervised models in Machine Learning
  • Module 2: Math & Stats for ML
  • Module 3: Regression models I
  • Module 4: Classification models I

Data Science 3 – ML Algorithms

  • Module 1: Advanced Math & Stats for Data Science
  • Module 2: Regression models II
  • Module 3: Classification models II
  • Module 4: Unsupervised Learning models

Phase II: Career Accelerator Program

  • Module 1: Portfolio Creation
  • Module 2: Interview Practice

Application

Submit email and apply online. Some prerequisites may apply, depending on your education and work experience.

 

Tuition

  • Data Analytics: $1,999
  • Data Science 1, 2, 3: $1,500 each OR Data Science 1-3: $4000
  • Career Accelerator Program: Upfront Payment: $12,000 OR Deferred Payment: $15,000 ($250/month while enrolled + 15% monthly salary until paid off)

Financial Aid

Income Share Agreement

You may be eligible to pay for tuition through the MentorWorks Income Share Agreement (ISA) program. With an ISA, a student has his or her education supported by an investor, in return for a contract to pay a specified percentage of income for a fixed period of time after graduation.

  • ISA payments adjust according to levels of income
  • Monthly payments are calculated by applying the student’s income share rate to their total monthly earned income
  • ISA obligations can be ended earlier by making early payments as listed in an early payment schedule

Check ISA availability at this or another school.

Income Share Agreements may be issued by Blue Ridge Bank, N.A.

 

ISAs may be issued by Blue Ridge Bank, N.A. Information above provided by Colaberry, (2020). MentorWorks Education Capital, Inc. (MentorWorks) is not a representative of Colaberry and this listing does not constitute a recommendation, endorsement, or accreditation. Colaberry is not a representative or an affiliate of MentorWorks or Blue Ridge Bank, N.A. References on this website to Colaberry do not guarantee ISA eligibility or serve as financial advice. You should carefully consider your choice of educational program and seek advice from a qualified advisor.

Have Questions? Talk to Us. Pick a Time Below.

 

Have questions about Colaberry programs, courses, admissions, cost, time commitment, outcomes, or anything else? We’re here to help; schedule an info call.

What We Do at MentorWorks & How We Help Students

 

THE MENTORWORKS MISSION

Our mission is to open pathways to education and careers for students and candidates who may not have had the financial or social capital to do it on their own.

 

MENTORWORKS FUND & SUPPORT MODEL

Which Students We Fund

  • College juniors & seniors and Master’s degree / post-graduate students
  • Trainees in boot-camp, professional or trade certificate programs
  • Aspiring career-changers & experienced professionals facing unemployment

How We Support Job Candidates

  • Talent Accelerator Platform (TAP) – comprehensive, personalized job search & career coaching program
  • MW Labs Experience – experiential learning opportunities to propose solutions to hiring employers
  • Employer Engagement – live virtual events with employers, mentoring sessions and practice interviews