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8 ways to pay for coding bootcamp

Find out how to pay for your crash course in computer programming.

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Coding bootcamps are designed to give students a quick, intensive overview of web development and programming. But with most full-time programs costing around $10,000 or more, finding a way to pay for it should be a top priority before you look to jump ship and change careers.

How can I pay for coding bootcamp?

There are a variety of ways to finance coding bootcamp, including:

Compare personal loans for coding bootcamp

1 - 8 of 8
Name Product Interest Rate Loan Amount Loan Term Requirements
Loans Canada Personal Loan
5.4% - 46.96%
$300 - $50,000
4 - 60 months
Requirements: min. credit score 300
Spring Financial Personal Loan
9.99% - 46.96%
$500 - $35,000
6 - 60 months
Requirements: min. income $1,800/month, 3+ months employed, min. credit score 500
SkyCap Financial Personal Loan
19.99% - 39.99%
$500 - $15,000
9 - 60 months
Requirements: min. income $3,333/month, full time employment/pension, min. credit score 600, no bankruptcy
LoanConnect Personal Loan
6.99% - 46.96%
$100 - $50,000
3 - 120 months
Requirements: min. credit score 300
Symple Personal Loan
6.99% - 32.00%
$5,000 - $50,000
24 - 84 months
Requirements: min. credit score 650, min. income $50,000/year, no history of bankruptcies
goPeer Personal Loan
8.00% - 34.00%
$1,000 - $25,000
36 - 60 months
Requirements: recommended income $40,000/year, no payday loan debt, min. credit score 650, min. 5-year credit history. (Avg. approved rate of 15.80%)
Mogo Personal Loan
9.90% - 46.96%
$200 - $35,000
6 - 60 months
Requirements: min. income $13,000/year, min. credit score 500
Fairstone Secured Personal Loan
19.99% - 24.49%
$5,000 - $50,000
36 - 120 months
Requirements: must be a homeowner, min. credit score 560

How much does a coding bootcamp cost?

The average cost of a full-time coding bootcamp course is around $14,000, according to a 2021 report from Course Report. However, part-time programs may start at a few hundred dollars and reach as high as a few thousand dollars. Costs can vary across Canada, with courses offered in Toronto often costing more than courses offered in the prairie provinces.

If you’re thinking about signing up for a coding bootcamp, there are other costs outside of tuition you should consider:

  • Travel costs. If the bootcamp isn’t nearby, you’ll need to account for travel costs. This could be as simple as budgeting for extra gas or as expensive as buying a roundtrip plane ticket across the country.
  • Time off work. Coding bootcamps are usually marketed as a way to switch careers. But if you still need a job to pay your regular bills — or you’re attending a coding bootcamp for work — you’ll need to make sure you aren’t digging into precious sick time or vacation days.
  • Housing. Where do you plan to live during the bootcamp? If it’s not located near where you live now, can you find a cheap place to rent or will you need to rely on an extended hotel stay? Factor this into your budget when deciding on a program.

5 tips to help you choose the right coding bootcamp

If you’re not sure which bootcamp to attend, here are a few pointers to better compare your options:

  • Look into bootcamps that offer scholarships. Many coding bootcamps offer scholarships to specific groups of people, so research programs that offer funding you might qualify for.
  • Research guaranteed-hire programs. Some coding bootcamps may refund your tuition if you aren’t able to find a job within a certain time period after graduating. But there will likely be strings attached, so read your program’s refund policy before banking on this option. Alternatively, you may find a program that includes a practical work component to provide you with real-world work experience as a coder and give you a competitive edge on your resume upon graduation.
  • Understand the program’s “return on investment (ROI).” A coding bootcamp’s return on investment (ROI) is one of the most important factors to consider when comparing your options. Check the program’s graduation reports and your job possibilities. If available, read student reviews of any program you’re considering taking.
  • Start teaching yourself. Coding bootcamps are an expensive way to decide if programming is really for you. Before you search for programs, learn some of the basics of coding with a free or low-cost online course. And if you find something you like, you can narrow down your program options based on their language focus. Sites like Udemy and Skillshare offer self-paced courses taught by experienced instructors, and you’ll be paying comparatively less for these than for a bootcamp offered at a college.
  • Research companies you’d want to work for. Before signing up for a program, reach out to a few companies you’d be interested in working for to see what programs they recommend.

Example: Cody goes to coding bootcamp

Cody has just graduated from high school and has been accepted to university to study computer science. His parents have agreed to let him attend a week-long coding bootcamp located in Vancouver. The total cost of the bootcamp is $1,200.00. His parents just had to take care of some urgent house renovations, so they don’t have much left in savings. They really want Cody to take advantage of the opportunity, so they decide to take out a personal loan to cover the full amount. Since they need the money right away, they opt for a personal loan from an online lender. They’re offered a fairly competitive APR and a short loan term of 6 months, which allows them to minimize interest costs.

Cost of bootcamp$1,200.00
Loan typePersonal loan
Loan amount$1,200.00
Interest rate (APR)10.00%
Loan term6 months
Additional fees Origination fee of 3% ($36.00)
Monthly payment$205.87
Total loan cost$1,271.24

*The information in this example, including rates, fees and terms, is provided as a representative transaction. The actual cost of the product may vary depending on the retailer, the product specs and other factors.[/fin_hide]

Bottom line

You have a variety of options to consider to fund your coding bootcamp. You might want to start by looking into scholarships and payment plans available through your school before moving on to your loan options.

Learn more about how personal loans work and compare lenders with our guide.

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