Funding Your Coding Bootcamp Education with a Student Loan

Coding is increasingly becoming one of the most in-demand fields in the American job market. While the national employment rate is 4.1%, coders have an unemployment rate of only 1.9%. As a result, many people are signing up for coding bootcamps, which can provide a crash course in the most important coding skills.

However, coding boot camps can also be pricey and time-intensive. One way that prospective coders can cover the cost of coding bootcamp is with a personal loan. This article explores the benefits of coding bootcamp, what the costs are, and how a loan can help.

What is a Coding Bootcamp?

Coding bootcamp is an intensive study course that provides skills, knowledge, and experience in coding. While the specific details and parameters will vary by bootcamp, generally bootcamps cover coding in technologies like:

• HTML and CSS
• Javascript
• Ruby on Rails
• Git
• Command Line
• Web Tools

In a coding bootcamp, students learn through hands-on, project-based learning. These bootcamps typically run 8-12 weeks, with 10-hour days or longer.

How Can a Coding Bootcamp Help You?

Coding bootcamp is like a mini college degree and can open up a range of new avenues for career development. The following section details some of the benefits of completing a coding bootcamp.

Increases Your Chances of Getting a Programming Job

A big reason that coding has become such a prominent and valuable skill in the workplace is that it is highly specialized. However, whereas other types of specialized technical work often require 4-year  degrees, coding bootcamps power you through a huge amount of material in just a couple of months. Programming jobs are in higher demand than ever, and regardless of your skills and experience, going through a coding bootcamp will significantly boost your chances of getting a job.

Increases Your Chances for a Higher Salary

Since programming is such a valuable skill, starting salaries are high for coders. In fact, programming is the 3rd highest paying job in the United States. Furthermore, there is significant potential for increasing your salary quickly as you grow more experienced.

Opens Opportunities for You Outside of Tech

Coding isn’t just a valuable skill in the field of programming; the explosion of tech has made coding knowledge central to many jobs. There are countless fields in which knowing a programming language can be a huge plus, from content writing to human resources.

How Much Do Coding Bootcamps Cost

The details of what you will learn, and the cost, will vary greatly by bootcamp. We have broken down these bootcamps by price range and provided some info on some of the best-known.

$5,000-$10,000 Price Range

• Epicodus : Located in Portland and Seattle, Epicodus is one of the cheapest bootcamps, costing only $6,900. The bootcamp lasts 27 weeks. Epicodus does not require any pre-work or prior knowledge.
• Grand Circus:  This is a Michigan-based coding bootcamp that takes place in Grand Rapids and Detroit.  The Grand Rapids course costs $9750, while the Detroit bootcamp costs $7500. Each course lasts 12 weeks.
• Bottega: While on-site Bottega courses are hosted in Scottsdale, Arizona, and Salt Lake City, Utah, this course is also accessible online. Bottega lasts 11 weeks, though there is a 70-hour prep course required that is offered for free. Bottega costs $10,000.

$10,000-$15,000

• Ironhack: This bootcamp, located in Miami, lasts 9 weeks and costs $11,000. However, there is pre-work involved so the total study time will exceed 9 weeks.
• Coding Dojo: Coding Dojo is a prominent coding bootcamp that holds camps in Chicago, Seattle, Silicon Valley, Berkeley, Dallas, Tyson’s Corner, Tulsa, and Boise. This course lasts 14 weeks. The cost varies by location, ranging from $10,495 to $14,995.
• General Assembly: Held in San Francisco, Washington, DC, New York, Chicago, Austin, and London, along with ten other locations, General Assembly bootcamp lasts 12 weeks for on-site students. However, prospective students should account for 40 hours of pre-work. As with Coding Dojo, the cost of General Assembly depends on the location, ranging from $13,950 to $14,950.

$15,000-$20,000

• Tech Elevator: This bootcamp, which takes place in Pittsburgh, Cleveland, Cincinnati, and Columbus, runs for 14 weeks, including 30-40 hours of pre-work. Tech Elevator costs $15,500 at each location.
• Codesmith: Running 12 weeks and costing a total of $17,200 at each location, Codesmith is held in Los Angeles and New York City.
• Fullstack Academy: Fullstack is a well-known coding bootcamp run out of New York and Chicago, which lasts 13 weeks. However, 4 weeks of part-time remote work are required to take the camp. The New York course costs $17,910, while the Chicago course costs $15,910.

$20,000-$25,000

• Turing: Located only in Denver, Turing is an extremely detailed course, lasting a full 28 weeks (without pre-work). This course costs $20,000, though a laptop is included in this cost.
• Rithm School: This course is known as one of the highest-quality and most prestigious, with a cost to match — $20,000. Rithm is held only in the tech haven of San Francisco, and lasts 16 weeks, with 80-120 hours of pre-work.

How to Get Loans for Coding Bootcamps

The cost of coding bootcamps is typically the biggest obstacle that people face, but there are options available for covering this cost. Since your earning potential will go up once you complete the bootcamp, you can secure a loan and use your increased income to pay it off quickly.

Taking out a personal loan for coding bootcamp is quick and simple. You first complete an online application, which includes divulging important personal and financial information. Also, include a cosigner if you have one. Then, if you meet the eligibility requirements, you will receive a decision within a day or two. You will qualify for a loan amount, interest rate, and a range of term lengths. Once you sign a promissory note agreeing to the terms, you will receive the funds, which you can put towards the cost of coding bootcamp.

Conclusion

While the cost of coding bootcamp is substantial, the benefits you can reap in increased income over a period of years far outweigh the upfront cost. There are a whole host of options, along with different price ranges and locations that you can choose from. With a personal loan, you can choose the perfect course and kickstart your programming career.

Frank Gogol

I’m a firm believer that information is the key to financial freedom. On the Stilt Blog, I write about the complex topics — like finance, immigration, and technology — to help immigrants make the most of their lives in the U.S. Our content and brand have been featured in Forbes, TechCrunch, VentureBeat, and more.

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