How Does a Pay Later Online Coding Bootcamp Work?
Coding boot camps offer users a fast and seamless path to a career in the technology industry. With a deferred payment coding boot camp, you can wait to pay for your education until you have been hired and started earning a certain salary.
Coding bootcamps are more popular than ever before because they are usually shorter than traditional continuing education courses and more affordable. Also, with the boot camp setup, it means you have access to a highly focused education that helps you gain the skills needed to break into, transition, or advance your existing tech career.
If this sounds good to you and you are interested in the coding boot camp courses, the next step is to figure out how you will pay. As mentioned above, pay later online coding boot camp courses are a great option. While you can find an array of free coding courses, these pay-later setups are extremely appealing to some. Learn more about payment options you can consider here.
Related: 4 Tips to Prepare for Your First Important Tech Job
What Are the Payment Options?
Grants, scholarships, and similar payment options offer a great way to cover boot camps that offer software developers and those new to tech the ability to learn these skills.
However, you must qualify for these. You can find several governmental and nonprofit organizations that work together to help encourage people to move into these tech-based careers, which will help boost the local tech economy. One example of this is the TechHire Initiative created by the Obama Administration.
New options are released each year, which means a good place to start when it comes to seeing what you qualify for is with these programs. You can find options for older displaced workers, underrepresented groups, veterans, women in tech, and more.
Today, there are a wide array of scholarship options that you can use to cover your technology education. Like grants and loans, scholarships require you to apply for the funding to see if you receive it.
You can find scholarship options for many different groups of people, including parents, women, underrepresented groups, and more.
If you are a veteran, you can use your GI Bill federal financial aid to cover up to three years of college or another type of career education program. The GI Bill will also provide you with a monthly housing allowance.
This will make it much easier to attend the coding boot camp that appeals most to you. In some cases, this may mean moving, but your GI Bill will cover this. If you want more information, you can investigate the eligibility requirements.
A deferred tuition coding boot camp provides you with a short-term training course in technology. Most of the boot camps available today will emphasize one or several elements of computer science or development last for several months. One of the best parts of these boot camps is that they are flexible, and you can find an option that works for you and your schedule.
For example, you can find part-time, full-time, and self-paced programs offered in-person, online, or both. There may be additional services at the end of the boot camp that helps you land a job. Once hired, the tuition costs will be repaid based on your salary. That's the entire point of deferred tuition. You don't have to pay for your education until you start earning money from the skills you gained.
Related: Switching Careers into Software Development
Do you want to learn more about coding boot camps and what programs are available? If so, check out what we offer today.
How Does a Deferred Tuition Bootcamp Work?
A boot camp that offers a deferred tuition plan will often require a small payment upfront; however, most of the tuition won't be repaid until a job is found. Once you have found employment, you will repay a set tuition amount in small payments for a certain amount of time.
It's important to note that a deferred tuition plan isn't the same as an income share agreement. While both these options will let you defer your tuition until you have graduated and found a job, you will pay a percentage of your income instead of a set tuition amount if you sign an income share agreement.
Is the Cost the Same?
While each plan and offer vary, with a deferred tuition plan, you will probably pay more than if you paid the cost of the program upfront. While this is true, you get the flexibility and benefits of being able to wait to pay until after you have completed the program.
How Does the Pay Back Work?
With a deferred tuition plan, you may be required to make a down payment for the program. However, this isn't necessary for all programs.
Once the initial payment is made, all other payments will not be collected until after you have completed the course, graduated, and began working. At this point, you will be required to make a set monthly payment to cover the program's cost. How long you must make this payment depends on the program you enroll in.
Is a Pay Later Online Coding Bootcamp Right for You?
If you want to pursue a tech career, transition to a new position, or advance your career, the pay later online coding boot camp can be a smart option. It's a good idea to review the information above to better understand what it is and if the arrangement is right for you.
Related: Coding Bootcamp: What to Expect When You're Done!
Are you ready to learn more about the boot camp options available? If so, book an info session with our team at Sabio today.
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