Ten months ago, we decided to try something new. Recognizing the difficulties of attending our intensive engineering courses without a steady source of income, we piloted Thinkful’s Living Stipend – a new way to fund a tech education. Thinkful’s Living Stipend provides students a $1,500 monthly stipend to cover living expenses like rent and groceries. This allows our students to focus on what matters most - breaking into the tech industry.
The initial pilot in Salt Lake City had a tremendous response - for the two slots we offered we received over 200 applications. We then expanded to Portland with great fanfare.
Today, we are excited to announce that even more students are able to take advantage of Thinkful’s Living Stipend: we are expanding the program to our communities in Atlanta, Minneapolis, and Denver!
Every Day 1 Life Changed
Since our founding 7 years ago, Thinkful’s mission has been to provide the best return on education. But that still has too many caveats.
Nearly 60% of Americans have less than $1k in savings - meaning most Americans cannot afford the costs of changing careers. That’s why we launched ISAs in 2017 allowing students to pay zero tuition upfront.
Studies show that increased travel times impact access and outcomes. Recognizing that not everyone is fortunate to live close to a great brick and mortar institution, Thinkful’s programs - which combine online 1-on-1 learning with a mentor and local communities - have expanded educational access to students in 23 cities.
In 2018, we set out to change one life every day (365). By the end of the year, 413 Thinkful graduates launched high growth careers across web development, data science, and product design. And according to CIRR, our hired rate is the best.
Thinkful’s Living Stipend Explained
Thinkful Living Stipend is available to students based in Atlanta, Minneapolis, and Denver who enroll in Thinkful’s Engineering Immersion program. Students receive $1500 monthly living stipends - to cover expenses like rent, groceries, and transportation - throughout the five month duration of the Engineering Immersion program.
Like Thinkful’s ISAs, Thinkful’s Living Stipend requires no up-front tuition payment. Instead, students finance their educations by paying a percentage of their post graduation income — 15% over four years. The payment period starts as soon as graduates start earning $40,000 or more and is capped at $40,000.
Every Day 10 Lives Changed
We’re expanding Thinkful’s Living Stipend to Atlanta, Minneapolis, and Denver because these cities represent the future of tech. They are great places to live, have growing tech communities, and have more available tech jobs than available tech talent.
It’s just the beginning. In addition to expanding Thinkful’s Living Stipend to more cities, we have many more communities to grow and tens of thousands of jobs left to fill. It’s time to get to work. #EveryDay10LivesChanged