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Financing for coding bootcamps
8 ways to pay for your crash course in computer programming.
Coding bootcamps are designed to give students a quick, intensive overview of web development and programming. But with most programs costing over $10,000, finding a way to pay for it should be a top priority before you look to jump ship and change careers.
How can I finance a coding bootcamp?
There are a variety of ways to finance a coding bootcamp, including:
How much does a coding bootcamp cost?
The average cost of a coding bootcamp is around $12,000, according to a 2018 study from Course Report. Over half of the programs included in the study cost between $10,000 and $15,000. However, you may be able to find programs that don’t charge tuition at all or more intensive bootcamps that cost over $20,000.
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.
Compare personal loans for coding bootcamp
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 will refund your tuition if you aren’t able to find a job within six to 12 months after graduating. But there will likely be strings attached, so read your program’s refund policy before banking on this option.
- Understand the program’s 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. The Council on Integrity in Results Reporting and Bureau of Labor Statistics Occupational Outlook Handbook are good places to start.
- 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 online course. And if you find something you like, you can narrow down your program options based on their language focus.
- 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.
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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