No. Financing Deferred tuition allows App Academy to obtain some upfront cash from a financial institution to use for training and placing students. Deferred tuition servicing refers to the use of a third party service provider for payment processing once a student begins repayment on their Deferred tuition.
We have chosen Knowledge Finance to be our service provider for the portion of Deferred tuition contracts that we will finance. They are a non-profit organization and a subsidiary of MOHELA, one of the highest-rated student loan servicers by the U.S. Department of Education. Through their online portal, Knowledge Finance collects tuition payments on behalf of App Academy and our financing partner once students graduate from the program and secure a job.