Kenzie Academy Secures $100 Million to Make Tech Education More Accessible to All Americans

INDIANAPOLISNov. 4, 2019 /PRNewswire/ — Kenzie Academy, the Indianapolis based company that’s redesigning higher education through its online and in-person technology training, has raised $100 million for student tuition financing, backed by San Francisco based Community Investment Management (CIM), an institutional impact investment manager.

With the goal of attracting 10,000 new students in the next three years and as part of a long-held effort to pass on savings to students, Kenzie is redesigning its Income Share Agreement (ISA) program as part of CIM’s investment, lowering both its monthly repayment rate and the maximum amount students could pay, known as the payment cap, effective immediately and applying to all current students and alumni. Students who utilize an ISA to enroll in the program only start making payments after they graduate and get a job earning $40,000 or more annually.

 

Original article