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Springboard vs Flatiron

2 of Michael's comments in this thread · View thread on Reddit ↗

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

Springboard has a good ISA. It gets forgiven after 6 months after graduation if you do not find a DS or SWE job. However, there are certain conditions you need to meet in order to get the ISA forgiven.

u/michaelnovati replied · · edited
I commented on this in another thread, this isn't meant to be mean but I want to make sure proper info is presented. 1. Springboard no longer offers an ISA. Instead they have regular loans and they have deferred loans. 2. Springboard's SWE program in 2021 had a 29% graduation within 150% (i.e. 14.5 months) rate. Which means that 71% of people that start drop out or take longer than 14.5 months to graduate. 3. The job guarantee only kicks in once you graduate. HOWEVER, interest on the deferred loans accumulates from day 1. So even if you are refunded under that (... and again 29% of people finish in 14.5 months, so odds aren't in your favor) then you will still own A TON OF INTEREST ON YOUR LOAN, even if the principal is refunded. So don't join Springboard (or any program for that matter) that appears to have a too good to be true deferred payment method. I said this in the other thread. Nothing against Springboard. Colt Steele is great. Springboard has a solid team and good intentions. I just want to make sure people know what they are signing up for. I co-founded my own coaching and mentoring service and it's really hard to understand how all this payment stuff works and I'm just trying to help the community out in explaining how things work.

u/DriverResponsible906 wrote (the comment Michael replied to):

You’re biased af on all these posts. You own a bootcamp and decide the best way of promoting it is by trashing others ?

u/michaelnovati replied · · edited ★ FEATURED
I don't run or own a bootcamp. I'm extremely open about the mentorship platform I do work on (using my real name, one account, and being very transparent), but it's a **mentorship platform** for people with at least 1 year of SWE WORK experience and it's not competing with bootcamps at all. We don't teach anything, have a curriculum, we don't have teachers, so anyone considering a bootcamp wouldn't consider Formation... unless you actually have SWE work experience already and were still considering a bootcamp. We compete with Interview Kickstart and Pathrise and I never see them mentioned here whatsoever. We in fact work with a lot of bootcamp grads later on their careers and not INSTEAD of a bootcamp so I don't see how trashing bootcamps would be in my business interests at all.