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Though cheaper than a four-year degree, a bootcamp can still run you thousands of dollars. Heres what you need to know.

According to data collected by Forbes Advisor in November 2023, the median upfront cost of a coding bootcamp is $9,500. Total upfront costs for the 10 programs in this ranking range from $2,400 to $16,500.

To truly master a coding or tech skill in a bootcamp, you can expect to invest around $10,000. By comparison, tuition and fees for the average degree from a four-year college cost $17,251 per year, according to the National Center for Education Statisticsor around $69,000 for a full bachelors degree.

However, $10,000 is no small number. But students have options when it comes to paying for their bootcamps. Keep reading to learn more.

Paying for your entire bootcamp upfront is usually the cheapest way to do it. However, paying tuition in one lump sum isnt realistic for all students. Most programs offer additional financing options for those who cannot pay upfront.

Many providers offer installment plans, which allow learners to pay a monthly fee over an extended period. However, paying in installments usually costs more over time than an upfront payment option.

An income share agreement (ISA) allows students to enroll in a bootcamp without making a large down payment or paying in installments during their program. However, after graduating and finding a job, learners with ISAs must pay a percentage of their income to their bootcamp provider.

ISAs usually continue for a set time. On rare occasions, an ISA might specify that a student must pay a percentage of their salary until they reach a certain cap.

You should be wary of ISAs. If you earn a high salary after your bootcamp, you might end up paying significantly more in tuition than you would have had you paid upfront or in installments.

In general, tech bootcamps with job guarantees provide refunds to graduates who do not find suitable employment within a certain period after graduation. However, tuition guarantees usually require participants to adhere to strict conditions.

For example, students may need to live in certain areas to qualify for a job guarantee. Most bootcamps also require participants to fully engage with career servicesperhaps including regular sessions or meetingsand apply to a certain number of jobs each week or month.

Each bootcamp sets its own job guarantee requirements. Make sure to read your providers conditions.

Bootcamp students generally do not qualify for federal student aid. However, some bootcamps offer identity-based scholarships or partner with private lenders to provide additional financing options. Be wary of private loans, and read the fine print on interest rates and conditions.

Some bootcamps accept funds provided by the GI Bill and the VET TEC program, which pairs veterans with classes that help them develop high-tech skills. If you are a veteran, inquire with your prospective bootcamp about these funding programs and any military discounts.

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Best Coding Bootcamps Online In 2024 Forbes Advisor - Forbes