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Compare career development loans
Plus five tips for taking your career to the next level.
Signing up for a program, however, can take time and money you don’t have. If that’s the case, personal loans can help cover the costs of a course that could very well pay for itself by sending you into a higher pay bracket.
What’s the best way to finance a career development program?
The best financing option will depend on your specific situation. One way to pay for a career development program is with a personal loan. These flexible financing products allow you to borrow as little as $1,000 or as much as $100,000. You’ll receive the approved funds in one lump sum and then pay it back over three to seven years.
If you’re enrolling in a certificate program, you might want to look into loans specifically designed for career development programs. Lenders like Sallie Mae offer career development loans that come with grace periods and flexible repayment options, similar to a student loan.
Our top picks for career development loans
| Provider | Why it’s good for career development | Loan amounts | Starting APR | |
|---|---|---|---|---|
Its unemployment protection and entrepreneur program lets you pause payments till you get back on your feet or get your new business off the ground. It also gives you access to financial advisors that can help you plan your next career move. | $5,000 to $100,000 | Fixed rate: 5.99%Variable rate: 5.99% | ||
Offers personal loans that can be used to cover the cost of a course or bootcamp, and considers factors like education and employment history in addition to your credit score. | $1,000 to $50,000 | 3.5% | ||
Multi-use personal loans that can be used for career development with a simple, quick application. | $1,000 to $100,000 | 2.49% |
How much does career development cost?
It depends on what type of program you want to enroll in. Trade school or a master’s program can cost tens or even hundreds of thousands of dollars, though that’s generally more of a commitment than most career development programs. Here’s the breakdown of the cost of some common programs:
| Program type | Typical cost |
|---|---|
Management course | $150–$5,000 |
Coding/programming bootcamp | $10,000–$20,000, usually with $1,000–$2,000 scholarships available |
Technical writing workshop | $350–$3,000 |
Presentation skills seminar | $1,000–$1,500 |
Accounting/financial skills course | $2,000–$4,500 |
Systems security course | $1,500–$6,000 |
Web design course | $50–$1,000 |
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