Student Bill of Rights
The Career Impact Bond is a student-friendly financing model that expands access to career training and support.
The Career Impact Bond is a holistic model for financing education and training to help unemployed and underemployed people participate in the modern economy. Learners access quality job training, receive supportive services such as living stipends and career coaching, and land in-demand jobs—often in less time, and for less money, than traditional degree programs. The Career Impact Bond is designed to minimize risk for learners, who repay program costs only if they land and keep a job at a family-sustaining wage.
With every Career Impact Bond, all project partners commit to a student-centered approach to delivering education and training to create successful outcomes for students. All parties sign the Student Bill of Rights and are held accountable with an agreement that links service provider payment to job placement.
Student Bill of Rights
1. Right to Career and Support Services
Students have the right to support services that help them graduate, find good jobs, and achieve increased economic well-being. These include:
- Wraparound Support Services: Students have access to a network of critical wraparound services, such as social workers for help navigating real-life challenges, emergency aid funds for urgent needs, and connections to other important community-based supports.
- Career Services: Students have access to one-on-one career coaching for interview preparation, networking, job searches, and resume-writing.
2. Right to Transparency
Students have the right to clear terms and open communications so that they may make informed and empowered financial decisions. Accordingly, students will receive:
- Clear Terms: Students receive clear summaries of Career Impact Bond terms, upfront and in writing, including access to tables that show payments at varying income levels.
- Open Communications: Students have access to support staff who can answer their questions and care about their success, no matter how they pursue it.
3. Right to Student-Centric Financing
Students have the right to finance their education in a way that’s linked to their career success. Therefore, they can count on:
- Downside Protection: Students repay their training costs following graduation if and only if their earned monthly income rises above an agreed-upon threshold. Students whose monthly incomes are under the threshold do not pay.
- Cost-Effective Terms: Student payments are rooted in a manageable income threshold and limited to a fixed duration and dollar amount.