But unlike for-profit coding schools like General Assembly, C4Q would raise money from donors and offer classes for free. To be eligible for the program, applicants must be at least 18 years old and earn less than $40,000 a year. While most coding schools advertise courses that run for just three months, C4Q’s program lasts 10. In 2017, he persuaded social-impact investors Inherent Group and the Lily Auchincloss Foundation to invest $750,000 toward C4Q students’ tuition, in the form of the jobs outcome bond. Students agree to pay 12% of their salary back to bondholders for three years, but only if they find jobs that pay more than $60,000.

Source: Forbes April 27, 2018 11:01 UTC