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The PPL Program

Upfront, non-cosigner financing with payment protection², so you can focus on learning now and paying later. ​

With a Payment Protection Loan (PPL) made available through Clasp¹, you pay back your funding in fixed monthly installments for a fixed period of time—after you leave the program and are earning at least the minimum income threshold.

Once payments begin, you can use your payment protection benefit if you are unemployed or earning less than the minimum income threshold, up to a maximum of 24 months.²

Get Started

How it Works

Focus on Class, Not Cost

With a PPL, you don't pay until you leave your program and are earning at least $50,000.00 per year!²

Make Fixed Payments

In months when you're earning the equivalent of at least the minimum income threshold, you’ll make fixed monthly payments³,⁵, ⁶, ⁷ based off your funded amount over a period for 48 months.³,⁵, ⁶, ⁷

Access Your Payment Protection Benefits

In months when you’re unemployed or earning less than the minimum income threshold (the equivalent of $50,000.00/year, or $4,166.66/month), you can can request to use your Payment Protection Benefit for that month, for a maximum of 24 months.²

Hack Reactor Beginner Bootcamp Terms²,⁵

$559.34
PER MONTH³

A fixed amount that never changes

48
MONTHLY PAYMENTS³

A fixed repayment schedule, allowing you to plan for the future.³

$50k
MINIMUM INCOME THRESHOLD⁵

Once you earn at least the minimum income threshold, you'll start making a fixed monthly payment, that will never change.⁵

3
MONTH GRACE PERIOD⁵

No payments for 3 months after graduation. Focus on getting a great job, not making payments.

24
MAXIMUM PAYMENT PROTECTION MONTHS²

The maximum number of PPP qualifying months. After using all available months monthly loan payments must resume the following month, regardless of your Monthly Gross Income.²

Hack Reactor Intermediate Bootcamp Terms²,⁶

$548.08
PER MONTH³

A fixed amount that never changes

48
MONTHLY PAYMENTS³

A fixed repayment schedule, allowing you to plan for the future.³

$50k
MINIMUM INCOME THRESHOLD⁶

Once you earn at least the minimum income threshold, you'll start making a fixed monthly payment, that will never change.⁶

3
MONTH GRACE PERIOD⁶

No payments for 3 months after graduation. Focus on getting a great job, not making payments.

24
MAXIMUM PAYMENT PROTECTION MONTHS²

The maximum number of PPP qualifying months. After using all available months monthly loan payments must resume the following month, regardless of your Monthly Gross Income.²

Tech Elevator Beginner Coding Bootcamp Terms²,⁷

$471.43
PER MONTH³

A fixed amount that never changes

48
MONTHLY PAYMENTS³

A fixed repayment schedule, allowing you to plan for the future.³

$50k
MINIMUM INCOME THRESHOLD⁷

Once you earn at least the minimum income threshold, you'll start making a fixed monthly payment, that will never change.⁷

3
MONTH GRACE PERIOD⁷

No payments for 3 months after graduation. Focus on getting a great job, not making payments.

24
MAXIMUM PAYMENT PROTECTION MONTHS²

The maximum number of PPP qualifying months. After using all available months monthly loan payments must resume the following month, regardless of your Monthly Gross Income.²

Frequently Asked Questions for PPLs

¹ Loans may be issued by Clasp, formerly Stride Funding, Inc or FinWise Bank, a Utah-chartered bank, Member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.

² In any month during the Payment Term that you believe you are eligible for Payment Protection Benefits, you must contact the Loan servicer to let them know that your Monthly Gross Income is below the Minimum Income Threshold, and to provide documentation or other verifiable information evidencing that you are either unemployed or earning below the Minimum Income Threshold.

During any month you use the Payment Protection Program (PPP), you will not be required to make a monthly payment and no interest will accrue on your loan for that month. However, PPP qualifying months where no payment is made will not contribute to reducing your loan’s principal balance or shorten your payment term. You are eligible for a maximum of 24 PPP qualifying months. Once you have used all available Payment Protection Benefits, you must resume making monthly payments on your loan, regardless of your Monthly Gross Income, starting the following month of your payment term.

³ Payment amount reflects the maximum monthly payment based on the maximum loan amount.

⁴ There is no credit check required to receive a quote. If you choose to submit an application for funding, a hard credit pull will be performed at that time. There is no minimum FICO score, and your credit score or history isn't the main thing that decides your approval or denial, but your credit will be checked.

⁵ The 13.00% Interest Rate is fixed at the time of application and does not change during the life of the loan. The Interest Rate may be lower or higher than your Annual Percentage Rate (“APR”) because the APR considers certain fees you pay to obtain the Loan, the Interest Rate, whether you defer (postpone) payments while in school, and your use of Payment Protection Benefits.

This repayment example uses the maximum loan amount for a Hack Reactor Beginner Bootcamp student borrower with a 48-month term with 5 months until graduation plus a 3 month grace period. For a $19,380.00 loan that is disbursed in one (1) disbursement and a 13.00% Fixed Interest Rate: 48 monthly payments of $559.34 for a total amount of payments of $26,848.32 and an 12.47% Annual Percentage Rate (“APR”). This example assumes repayment begins immediately after the Grace Period ends and no Payment Protection Benefits are used. The interest on your loan accrues on the initial amount financed while you are in school and during the Grace Period. This accrued interest is capitalized and added to your principal balance at the end of the Grace Period. While the APR may vary, your monthly payment amount will not change.

⁶ The 13.00% Interest Rate is fixed at the time of application and does not change during the life of the loan. The Interest Rate may be lower or higher than your Annual Percentage Rate (“APR”) because the APR considers certain fees you pay to obtain the Loan, the Interest Rate, whether you defer (postpone) payments while in school, and your use of Payment Protection Benefits.

This repayment example uses the maximum loan amount for a Hack Reactor Intermediate Bootcamp student borrower with a 48-month term with 3 months until graduation plus a 3 month grace period. For a $19380.00 loan that is disbursed in one (1) disbursement and a 13.00% Fixed Interest Rate: 48 monthly payments of $548.08 for a total amount of payments of $26,307.84 and an 12.49% Annual Percentage Rate (“APR”). This example assumes repayment begins immediately after the Grace Period ends and no Payment Protection Benefits are used. The interest on your loan accrues on the initial amount financed while you are in school and during the Grace Period. This accrued interest is capitalized and added to your principal balance at the end of the Grace Period. While the APR may vary, your monthly payment amount will not change.

⁷ The 13.00% Interest Rate is fixed at the time of application and does not change during the life of the loan. The Interest Rate may be lower or higher than your Annual Percentage Rate (“APR”) because the APR considers certain fees you pay to obtain the Loan, the Interest Rate, whether you defer (postpone) payments while in school, and your use of Payment Protection Benefits.

This repayment example uses the maximum loan amount for a Tech Elevator Beginner Coding Bootcamp student borrower with a standard 48 month term with 4 months until graduation plus a 3 month grace period. For a $16,500.00 loan that is disbursed in one (1) disbursement and a 13.00% Fixed Interest Rate: 48 monthly payments of $471.43 for a total amount of payments of $22,628.64. and an 12.49% Annual Percentage Rate (“APR”). This example assumes repayment begins immediately after the Grace Period ends and no Payment Protection Benefits are used. The interest on your loan accrues on the initial amount financed while you are in school and during the Grace Period. This accrued interest is capitalized and added to your principal balance at the end of the Grace Period. While the APR may vary, your monthly payment amount will not change.

Valid as of January 14, 2025.