6 Apr 2016 07:00
06 April 2016
FastForward Innovations Limited
("FastForward" or the "Company")
Investee Company Update: Vemo Education Launches with Holberton School
Lorne Abony CEO of FastForward an AIM listed company trading under the symbol FFWD, notes the announcement made today detailing the partnership between investee company Vemo Education and Holberton School. The partnership is the first of its kind, introducing Vemo's revolutionary education financing method for Students and Academic Institution:
HOLBERTON SCHOOL CONTRACTS WITH VEMO EDUCATION TO ACT AS MASTER SERVICER OF UNIQUE TUITION PRICING MODEL
RESTON, VIRGINIA (April 6, 2016) - Vemo Education, an education finance company working with U.S. colleges and universities to develop and service value-oriented, income-based student financing programs, announced today that the company has been contracted by San Francisco-based Holberton School to oversee Holberton's tuition pricing and payment processes.
Holberton uses a project-based, peer learning format rather than traditional degree work to train students as full-stack software engineers. The tuition pricing model used by Holberton charges students no upfront costs while they are enrolled in the 2-year program and only begins to collect payments once the student completes the program and begins working. The payments made are income-based payments set at a fixed percentage of the student's salary for 3 years.
Vemo Education will manage Holberton's tuition platform and receipt of tuition payments. As experts in the field of income-based education finance, Vemo will guide Holberton in its implementation of income-based tuition pricing and allow the School to focus on educating its students and placing them in technology jobs.
"We believe that people from every community and background should have the opportunity to become a software engineer. That is why there is no upfront cost to join Holberton School. We only charge a percentage of the internship salary and salary once graduates find a job." Said Julien Barbier, co-founder of the Holberton School "Vemo makes the process very simple and straightforward for both the students and the school to offer this tuition model. Beyond Holberton School, this model is far more healthy than the traditional one because it ties the success of schools to the success of their students: no more crazy student debts."
About Holberton School
Holberton School is a project-based alternative to college for the next generation of software engineers. Using project-based learning and peer learning, Holberton School's mission is to train the best software engineers of their generation. At Holberton School, there are no formal teachers and no formal courses. Learn more at www.holbertonschool.com
About Vemo Education
Vemo Education's mission is to help higher education institutions align the value and the cost of their education by developing custom, value-oriented student financing programs. Providing a full-service approach to its educational partners, Vemo has invested in the infrastructure required to design, price, originate, disburse, and service income-based payment products. Vemo's management team has extensive experience in education finance and the financial aid sector. Learn more at www.vemo.com.
For further information please visit www.fstfwd.co or contact:
FastForward Innovations Limited Tel: +44 1481 810 100 Elysium Fund Management Limited
Beaumont Cornish Limited (Nomad) Tel: +44 (0) 207 628 3396 James Biddle / Michael Cornish
Peterhouse Corporate Finance Limited (Broker) Tel: +44 (0) 20 7469 0930 Guy Miller / Lucy Williams
CAUTIONARY STATEMENT
The AIM Market of London Stock Exchange plc does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding potential values, the future plans and objectives of FastForward Innovations Limited and the companies in which it invests. There can be no assurance that such statements will prove to be accurate, achievable or recognizable in the near term.
Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. FastForward Innovations Limited assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.