A Conversation with Devon, an Alchemy Code Lab Graduate using the Career Impact Bond
The Career Impact Bond is a student-friendly model for financing job training that’s designed to help people facing barriers achieve economic mobility. Launched in 2020, Social Finance’s Career Impact Bond with Alchemy Code Lab aims to serve 300 students over three years. Alchemy’s 25-week, full-time online training program prepares students for mid-level software engineering jobs with employers such as Nike, Kroger, and Cambia Health.
The Alchemy Career Impact Bond eliminates financing barriers for students by covering tuition and, in some cases, providing financing for living expenses. This increases access to software development careers for those who have traditionally been locked out. The program also aims to increase diversity in the technology sector, particularly for people of color, women, and LGBTQIA+ individuals.
“I was looking for places that had really generous scholarships—something where the funding was significant because there was no way I was going to make that choice without a clear financial path for myself,” said Devon. “What was really heartening about the Career Impact Bond was…the safety net. If this all goes wrong, I’m protected.”
Video: Devon, Career Impact Bond graduate and Associate Consulting Engineer at CDW