What is an ISA?
An Income Share Agreement (ISA) is a contract between you and Mindbyte Academy. In exchange for receiving your training at no upfront tuition cost, you agree to pay a percentage of your post-academy income over a period of 24 months, but only if you are earning above a certain threshold.
Core Principles
- 1
₦0 Upfront: You pay nothing for tuition until you land a high-paying job.
- 2
Income Threshold: You only start paying when you earn ₦400,000 or more per month.
- 3
Payment Cap: There is a maximum total amount of ₦1,000,000, protecting you from overpaying if you become highly successful.
- 4
Flexible Duration: Payments are made for 24 months or until the cap is reached
Payment Terms
Once you secure employment earning ₦400,000/month or more, you agree to pay:
- Percentage: 10% of your gross monthly income.
- Threshold: No payment is due in any month where your income is below ₦400,000.
- Duration: Payments continue for 24 "payment months" or until the cap is reached.
The Commitment Deposit
The ₦35,000 is a one-time deposit that is separate from the ISA and is intended to ensure your dedication to the program. This deposit is fully refunded to you upon successful completion of the academy's curriculum and graduation requirements, and full settlement of the ISA.
Success Guarantee
If you do not find a job that meets the income threshold after graduation, you owe ₦0 in tuition. We only succeed when you succeed.