Newton School's
Income sharing agreement (ISA)
What is ISA?
With Newton School's income share agreement (or ISA) a student can enroll and complete the course by paying absolutely nothing and get placed in a top notch company, but agrees to pay back 2.5 Lakhs over a period of 24 months. This way students can learn effectively without pressure of down payment in the starting.*
3 things to know about ISA
Let's look at the numbers
B
You've paid a total of
₹3 Lakhs
C
It's been 1 year since you completed the course, and didn't get a relevant job yet.
Our ISA is an investment in our students
Newton School only makes money if you land a job, and if not we make nothing. And once you complete the payment period or reach the cap, you are 100% free from any financial obligation to us.
ISA (Income Sharing Agreement) Questions
What is ISA and how do I have to pay to the newton school?
The course duration is for 6 months and the validity of ISA is till 3 years. After the completion of the course when you get placed with a CTC of 6Lpa or above, you will have to pay us 15% of your salary (15% of CTC divided into 12 months), till it adds up to 3L. In case you want to pay the amount all at once, that will also be okay. The ISA will not be valid if you're not earning 6Lpa CTC in a technical field.
If I get placed without the help of Newton School placement cell, am I still obliged to pay?
If you get a job within 1month from the start of your course, you don’t have to pay anything. But after that time period, yes you’ll have to pay even if you get placed without the help of Newton School. We believe that during these 6 months you'll receive tremendous learnings from this course which will help you crack interviews for software development jobs.
About getting placed from Newton school
We'll refer you to top companies and startups. We'll also help with the interview process.
If I start working in a startup, then will the equity component matter when calculating my salary?
No (15% of CTC excluding equity)
If I get placed somewhere between the course, do I have to still pay?
If you're getting placed within a month from the start date then ISA will not be valid. Otherwise if you're getting placed in the second month of the course then you have to pay 5%
Do I have to pay only if I get a full stack developer profile job?
The ISA holds for all types of software development job profiles.
Will the ISA be applied if I change the company before the signed bond period with the first company is over ?
Yes, ISA holds independent to your company and is based on your income.
Will there be placements after the course completion?
Yes, even when the course is completed we’ll keep your referrals floating until you get placed.
If I am already placed before joining the course, then will the ISA still be valid?
We'll send you a modified agreement in which you don't have to pay for the current/previous job. But, you do have to pay for the job that you get during or after the course.
What if I leave my job for higher education?
If you get a job for 6lpa and above while or after finishing the course at Newton School, you’ll have to pay the calculated ISA amount to the company.
What if I don’t get a job at all despite all hardships?
If you don't get a 6lpa>=job within 1 year, you are not liable to pay us anything.
What are the approved banks that you'll be keeping for processing the payment? What are the other payment methods?
We will let you know after the completion of the course
What happens if I reject the job offer? Will the ISA still be valid?
No. The ISA won't be applied until you accept a 6lpa>= job within 1 year.
Since it's a start up, I am facing issues in trusting this completely. What if it turns out to be a fraud?
We are not asking for any upfront fee. You don't have to pay us anything until you get a 6lpa>= job.
After the course will I get a package greater than 5 lpa?
Yes. If you commit yourself 100% to this course, you will definitely get a job more than 5lpa.
Do I have to pay 15% of cash-in-hand or CTC?
We charge 15% of CTC offered to you by the company excluding equity.
After the course if I get the job above 6lpa and ISA starts and let's say I paid 5 months installments in 6th months. And then I want to pay the remaining amount all at once, then will I pay you the left amount according to 2 lakhs or 3 lakhs?
The total amount is 3L. If you have already paid us a certain amount then we will calculate the remaining amount from 3L, and you can pay the money at once.
I already have a job of 5 LPA Can my minimum guarantee be increased?
Yes, if you already have a job of 5LPA your minimum guarantee in the Income sharing agreement can be increased.
If I didn't get a job > 5 lakhs, so what's the duration until which if I get a job of more than 5 lpa I would be still liable to pay the fees?
1 year after the signing of ISA
If I get a job of 5 LPA will I be getting more referrals in other top companies or do we stop there ?
Yes
Can we rely on it, as can we leave our job to focus more on this?
It's your call.
What type of job can I expect after the course completes, a remote or in-office job, in India or abroad?
You can expect all types of jobs.
Will there be any govt taxes applicable on the fees?
18% GST will be applicable on the fees instalments while making payments.