SAN FRANCISCO, CA--(Marketwired - July 20, 2017) - Bloc, the industry-leading online coding and design bootcamp, and Skills Fund, the leading student financing and quality assurance platform for accelerated vocational training programs, today announced new deferred tuition repayment options for new students in the US.
Founded in 2011, Bloc offers scalable, cost-efficient, online programs to adults pursuing new careers in software engineering, web development, and design. Amidst a climate of industry consolidation -- seven bootcamps closed in the past year alone -- Bloc remains a proven online option for working adults who aspire to new careers in tech but cannot afford to quit their job to attend class in-person.
The new financing option launched today allows Bloc students to defer between 83-95% of tuition and interest payments until after their program is complete and they possess the necessary skills to pursue a new career. For example, tuition for Bloc's Part-Time Web Developer Track is $8,800, but students who finance their tuition with Skills Fund can pay just $69 per month while completing the program.
With a structured part-time model, a tuition reimbursement guarantee, and new advantageous financing options for students with limited cash flow or credit, Bloc has removed the biggest obstacles for a massive population of students aspiring to new careers in high-demand technology professions.
"We are excited to expand the advantageous financing options available for our career-focused programs, and make transformational educational opportunities at Bloc available to even more students. Now almost anyone willing to commit to the challenge of acquiring new skills can improve their lives with a promising new career and greater earning power," says Clint Schmidt, CEO of Bloc.
"Today, Skills Fund and Bloc step beyond the expected bounds of an online accelerated learning program with the enhancement of our student access-focused solutions," said Dr. Joseph Kozusko, co-founder and Chief Growth Officer of Skills Fund. "The Access Program enables capable students -- from diverse backgrounds and locations throughout the country -- to transform their career opportunities, credit health, and ultimate economic mobility."
According to the U.S. Bureau of Labor Statistics, the software development profession is expected to grow 17% annually between 2015 and 2024, 2.5x faster than the average discipline. Congruently, universities have been unable to produce enough computer science students to meet the demand. The coding bootcamp market has grown 10.5x since 2013, and an Indeed survey of US companies indicated that 72% of employers think bootcamp grads are "just as prepared" to be high performers as degree holders.
About Bloc:
Bloc is an online education company with structured part-time programs for aspiring software developers and designers. Bloc relies on a combination of specialized mentors, mastery learning, and performance data derived from thousands of students to ensure that every graduate possesses the skills to advance their career in software development and design. Bloc was founded in 2011, and has raised venture investment from Shasta Ventures, Harrison Metal, Baseline Ventures, First Round Capital, and Learn Capital.
About Skills Fund:
Skills Fund is a student financing platform that facilitates the growth of high-quality, innovative higher education providers and promotes access to those programs for a diverse set of students. Skills Fund ensures that coding, data science, and other accelerated learning programs meet our quality standards, including strong graduate employment outcomes. Programs that meet those standards obtain access to competitive financing products for their students. In partnership with one of the largest nonprofits in the student loan industry, Skills Fund combines the functions of lender and quality assurance entity to align all financial incentives around a student's success.
Contact Information:
Alexandra Kim
alex@bloc.io