Although federal student aid is not an option for most bootcamp students, other sources of aid are available. Here’s what you need to know.
How much does an IT bootcamp cost?
Coding camp costs vary widely depending on the provider. According to our survey of 500 coding bootcamp participants, some students spent nothing on their bootcamps, while others paid more than $10,000. The average cost of a coding boot camp is $9,500, according to our research.
The total cost of the IT bootcamps included in our guide ranges from $9,975 to $16,500.
Prepayment
You can pay for the IT bootcamp in advance in one go. This option usually gives you the lowest total cost, but you need to be able to raise all the money at once before you start the course. If you have savings and available funds, it makes sense to do it, but not everyone has that much money at their disposal.
Pay multiple times
If you can’t or don’t want to pay your full tuition up front, many schools offer payment plans that allow you to spread the cost of your bootcamp over several months. This option generally costs more than paying up front, but allows you to pay over time, which is easier for many people.
Revenue sharing agreement
An Income Sharing Agreement (ISA) allows you to defer tuition payments until you have completed your degree and secured an eligible job. At this point, you will have to contribute a certain percentage of your monthly income to the bootcamp over a period of time, which can vary from a few months to a few years. ISAs generally cost more than prepayment and installment plans, especially if you end up earning a high salary, as the agreed percentage is fixed.
ISA terms can vary greatly from program to program, so be sure to read the fine print carefully before signing anything. Pay attention to what makes an eligible job, the repayment terms, and what happens if you can’t find the job you want.
Job guarantee
Bootcamp Job Guarantees provide free tuition or tuition reimbursement to students who do not obtain qualified employment within a specified period of time after graduation. Choosing a bootcamp with a job guarantee may seem like you have nothing to lose by applying, but these contracts tend to have strict requirements.
For example, a job guarantee can disqualify you if you turn down a job offer that doesn’t seem attractive to you. The bootcamp provider may also require you to apply for a number of jobs, relocate for a job opportunity, or participate in their own career development program.
Loans, scholarships and other assistance
In most cases, you cannot get federal student aid to pay for boot camp. However, some camp providers offer their own scholarships or work with private student loan lenders.
You can use GI Bill benefits to pay for eligible boot camps. Simply confirm that your potential bootcamp is approved by the Veterans Administration before registering.