V School Joins the edly Marketplace with Initial $1 Million Funding Commitment
edly ISA marketplace finances institutional success linked to student success
NEW YORK, Sept. 5, 2019 /PRNewswire/ -- edly, the online marketplace connecting income share agreement (ISA) investors with top schools, today announced that V School, a Salt Lake City-based code and design school, received $1 million in committed funding via the edly marketplace to finance its ISA program.
"V School students from every background are launching software engineering careers without the need for private student loans," said edly President Chuck Trafton. The school reports an 88% graduation rate and a median salary of $72,000 for 2019 graduates. More than one-third of V School students identify as female, double the tech industry's current rate, and nearly one-third of V School students are veterans.
"We are proud to support V School CEO Michael Zaro and all V School mentors, students and staff as they prepare for today's workforce - debt-free. Investor demand for unique assets such as V School ISAs reflects the school's outcomes and commitment to skills training, job placement and alignment of interests," said edly CEO, Chris Ricciardi.
The initial $1 million investment comes from investors on the edly platform. Further terms of the transaction were not disclosed. V School previously funded its ISAs from working capital. "Access to liquidity via the edly ISA marketplace allows us to scale V School's impact and provide a pathway to a great career and life to even more students," said V School CEO Michael Zaro. "We're proud of the support from our partners at edly and look forward to creating better opportunities for students together."
edly is a marketplace that enables accredited investors to do well by doing good. Accredited investors buy "shares" of ISAs, unique financial assets tied to future student success. These investments fund student tuition and then are repaid by students only after they begin working in well-paying jobs. Unlike student loan debt, which can be punitive and unaffordable, ISA investments on the edly marketplace reward and fuel ongoing student success. This offering is fully subscribed, though accredited investors can pre-register for future offerings at edly.info.
V School is now accepting applications for both code and design cohorts beginning October 1, 2019. Students and parents or guardians who want to learn more about the program are encouraged to visit V School's website for additional information, eligibility requirements and a tool comparing ISAs with other financial aid options that may be available to students.
About V School
V School is a vocational school built for today's job market. By focusing on mastering skills over collecting certificates, V School alumni are prepared with both the abilities and job experience needed to excel in coding, design and other careers in the tech industry.
Based in Salt Lake City, Utah, V School serves students from across the country with available housing, transportation, and computer programs.
The Full Stack Web Development program includes MERN stack technology (MongoDB, Express, React.js, Node.js) and front end web development. The Experience Design program includes UX, UI and related Adobe and industry programs.
Learn more at https://vschool.io/
About edly, Inc.
edly Inc. is the ISA marketplace, connecting accredited ISA investors with ISA issuers such as colleges, skills academies and vocational schools. The company is headquartered in New York.
With one contact point, schools gain access to the entire market of ISA investors through the edly marketplace. And using edly's ISAAC calculator, schools can see how choice of terms relate to the creation of an attractive tuition funding alternative for students. Schools can easily test the funding terms each month, with certainty of funding – now and in the future, in any amount.
edly was recently highlighted as an ISA market visionary by Career Karma. Read their "State of the ISA Market Report-2019" report here
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For more information, visit edly.info
SOURCE edly, Inc.
Full release here