Financial Aid for Coding Bootcamps
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A traditional college degree program isn’t for everyone. A four-year degree can be expensive and time-consuming. Fortunately, there are other paths you can take to get the technical training necessary to enter the workforce with in-demand skills. One of these options is to take a coding bootcamp.
Coding bootcamps let students with minimal or no experience in tech quickly develop computer programming knowledge, with most programs lasting 3-6 months. Additionally, many bootcamps are offered online with part-time schedules, providing a convenient learning environment for working professionals.
However, coding bootcamps still charge a considerable amount for tuition — usually around $13,500, according to data collected by BestColleges from over 130 bootcamps. Fortunately, many bootcamps have flexible payment options that require little or no money upfront. This price is also much lower than the tuition for a four-year degree program, which routinely costs over $50,000.
Bootcamps can also lead to lucrative careers, which can make the tuition worth the investment. Graduates often become web developers, who earned a median annual salary of $84,960 in 2023 according to the Bureau of Labor Statistics. They can also pursue roles as software developers, who earned a median salary of $132,270 that same year.
Though coding bootcamps typically offer cheaper tuition than a four-year college degree program, students cannot access federal financial aid for coding bootcamps. With this in mind, how can you pay for a coding bootcamp? Continue reading to learn more about coding bootcamp financial aid.
Featured Coding Bootcamps Learn MoreVisit SiteLearn MoreVisit SiteLearn MoreVisit SiteLearn MoreVisit Site Is There Federal Financial Aid for Coding Bootcamps?
Is There Federal Financial Aid for Coding Bootcamps?
When considering a coding bootcamp, you cannot rely on a program’s accreditation status to vet the bootcamp’s quality. Unlike traditional colleges, bootcamps do not hold regional or national accreditation.
As a relatively new industry, coding bootcamps remain largely unregulated. Without accreditation, the burden of verifying a bootcamp’s quality falls largely on the student. Another drawback of bootcamps’ unaccredited status is that students cannot take advantage of federal financial aid for coding bootcamps, such as federal grants and loans.
If you cannot afford to pay your tuition upfront, many coding bootcamps offer financing options through private loans and scholarships. Students can also participate in an income share agreement or deferred tuition plan and make payments only after they graduate and secure a tech job.
Alternate Financial Assistance Options
Are Bootcamps a Good Alternative to Traditional College?
Our 2021 Bootcamps Trends Report found that “Almost half (48%) of all business leaders surveyed, and 56% of those from tech companies and organizations that hire for tech roles, said that bootcamps will play a pivotal role in meeting future workforce training needs”.
Frequently Asked Questions About Financial Aid for Coding Bootcamps
How much do coding bootcamps cost?
The average cost of an intensive coding bootcamp is around $13,500, according to data collected by BestColleges from over 130 bootcamps. However, prices range from just a couple thousand dollars to over $30,000, depending on the bootcamp.
Can I start a bootcamp with no money down?
Yes. Many coding bootcamps attract working professionals with flexible payment options that do not require down payments (or only require a small down payment). Bootcamps often lessen the financial barrier to accessing an education by letting students learn for free and repay tuition only after they find a well-paying job in the tech industry.
DISCLAIMER: The information provided on this website does not, and is not intended to, constitute professional financial advice; instead, all information, content, and materials available on this site are for general informational purposes only. Readers of this website should contact a professional advisor before making decisions about financial issues.
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