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BloomTech CEO fined $100,000 for "Deceiving Students", must stop collecting payments

r/codingbootcamp

u/starraven wrote (the comment Michael replied to):

I have to mention the income share agreement I sent you from the first “bootcamp” I attended long ago was “firmly established” as I was kicked out it would apply to any tech employment that I had in the future. 👎 nope, they removed me from their program (unwillingly btw) and I n

u/michaelnovati replied · ★ FEATURED
In my opinion, people who leave prior to "finishing the program" are the largest problem with ISAs because that's when people get the most upset.... not only did they not get a job, but they didn't even finish everything! For the ISAs we have, we don't have a "end of the program" and there is a clear refund policy if you leave early, but we try REALLY hard to proactively reduce costs to the value a person got if someone leaves early based on what they actually did and not just the calendar time in Formation the person is contractually required to pay. Like if Formation didn't work for you, but you had 25 mentorship sessions and did 100 hours of practice tests and tasks, and no issues reported in your weekly surveys and 1-1 checkins, then it's not fair to pay zero because you were on an ISA.