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Partnerships with Lenders Pave & Climb Make Financing Hack Reactor More Accessible to Students
In our ongoing effort to make our world class program accessible to a growing number of students, we have recently teamed up with two lending partners, Pave, and Climb, to provide financing options to our Software Engineers. Accepted students will be able to apply to either option through a streamlined process. These steps help us to further clear away financial barriers to attending our San Francisco and Remote Beta programs.
“These partnerships are a win-win,” says Hack Reactor CEO Anthony Phillips. “They allow us to bring in students who are more than qualified at the technical level, and that benefits everyone.”
In exploring partnerships with lending institutions, we sought to find organizations that, like Hack Reactor, seek to empower people who want to make a strong, proactive career move.
Pave, a newly launched lending company, provides financing options to U.S. citizens, covering both tuition and additional expenses -- which students can use on relocation/moving expenses, rent, living expenses and whatever else comes up. To qualify, a credit score of 660 and above is required. With loans up to $25,000, students will be able to fund both their tuition and their lives for their time at Hack Reactor, and have the ability to defer their first payment by up to three months while they are in the program. Through this option, students have up to 36 months to pay back their loans.
Climb offers tuition loans to students with credit scores as low as 400, with a repayment term of up to three years.
We are in continuing talks with other partners, with the goal of offering financing options to every admitted student. Our agreements with Climb and Pave apply to both our onsite program in San Francisco and our online offering, Hack Reactor Remote Beta.
The Obama Administration is interested in working with coding schools, which the President described as “a ticket to the middle class,” to create funding options for schools with strong student outcomes. Phillips recently joined other industry leaders at the White House, at a meeting convened by the Department of Education, to discuss the possibility of bringing in traditional student lending options to programs such as ours, while discussing innovation and quality.
The pathway to a successful career as a developer has never been more open. Apply now to our program, online and in four major cities, today.