How to Pay for a Coding Boot Camp

Not everyone finds a traditional college degree program suitable, considering its cost and time commitment. Fortunately, there are alternative paths to gaining technical training and acquiring sought-after skills for entering the workforce. One such option is enrolling in a coding boot camp. Coding boot camps offer individuals, even those with minimal or no tech background, an opportunity to rapidly acquire computer programming knowledge, with most programs spanning 3-6 months. Many boot camps provide the flexibility of online learning with part-time schedules, catering to the needs of working professionals.

Despite the substantial tuition fees associated with coding boot camps, typically averaging around $13,500 based on data from over 130 programs, there are flexible payment options that may require minimal or no upfront costs. Importantly, this cost is significantly lower than the tuition for a traditional four-year degree program, which often exceeds $50,000. The potential for lucrative careers after completing a coding boot camp makes the investment in tuition worthwhile. Graduates commonly secure roles as web developers, with a median annual salary of $73,760 in 2019, according to the Bureau of Labor Statistics. Alternatively, they can pursue careers as software developers, earning a median salary of $107,510 that same year.

While coding boot camps offer more cost-effective tuition than traditional college degrees, it’s essential to note that federal financial aid is not accessible for coding boot camps. This raises the question: How can you fund your coding bootcamp?

Financial Aid Options for Coding Boot Camps

When considering a coding boot camp, you must rely on something other than a program’s accreditation status to vet the boot camp’s quality. Unlike traditional colleges, boot camps do not hold regional or national accreditation. As a relatively new industry, coding bootcamps remain largely unregulated. Without accreditation, verifying a boot camp’s quality falls largely on the student.

Unlike deferred tuition plans, income share agreements involve no upfront costs or a minimal deposit. Graduates commit to making monthly payments based on a percentage of their salary after landing a tech job, usually 10-25%. These payments typically span 2-4 years, and certain conditions, like a minimum salary threshold, may apply. It’s essential to thoroughly understand the terms, as graduates may pay more than the initially advertised tuition cost.

Coding Bootcamp Scholarship Opportunities

While coding boot camps offer a more affordable alternative to traditional four-year colleges, their tuition costs can still be substantial, averaging around $13,000. To assist you in overcoming this financial barrier and entering the tech industry, we have curated the ultimate guide to coding bootcamp scholarships. Keep reading to discover the top coding boot camp scholarships available!