Coding bootcamp student loan options are a bit different than traditional college loan options.

A coding bootcamp could help you land a higher-paying job. In fact, you might learn enough in 8 to 12 weeks to transform your career forever. But these technical training programs, although short in duration, can be very costly.

Unfortunately, most coding bootcamps don’t qualify for federal student loans. But some private lenders offer funding options to cover your bootcamp costs. We explore some of the best coding bootcamp student loan options to help you find an appropriate funding solution for your needs. 

Loans For Coding Bootcamps

Federal student loans won’t cover your coding bootcamp costs. And many private student loan lenders require students to be enrolled in a Title IV institution full-time, which puts many potential lenders out of the running.

But a few lenders offer loans for bootcamp students. Here are options to consider. 

Ascent

Ascent offers bootcamp loans to students at a range of schools. Notably, these are consumer loans, not student loans.

The lender requires you to work with one of their many partner schools, which they vet to ensure it’s a legitimate educational experience. If you are accepted into a bootcamp at an approved school, you can apply for a loan with Ascent. If approved for the loan, Ascent will send the tuition funds directly to your school. If you borrowed funds for living expenses, those will be sent directly to you. 

Although the APRs vary from school to school, you can borrow between $2,000 and $40,000. The funds can be used for both tuition and living expenses during the program.

Learn more in our Ascent student loans review.

Climb Credit offers coding bootcamp loans to students at more than 160 approved schools. If you apply with Climb Credit, you’ll find out if you are approved in just a few minutes.

The funds can be used to cover your tuition and living expenses. During the repayment period, you can choose a lower payment for the first six months and face a higher payment for the remainder of the loan. This could give your finances some extra breathing room to find a new job. 

Other Ways To Pay For Coding Bootcamps

If you are interested in coding bootcamp but aren’t sold on the options above, there are other funding methods to consider.

Payment Plans

Some coding schools offer tuition payment plans, which break up the total cost of your program into more manageable monthly payments. If you are struggling to come up with the entire price upfront, seeking out a payment plan could help you make it work.

Save Up 

In a perfect world, you’d be able to save up the money to cover the tuition costs in full. Of course, saving for education is sometimes easier said than done. But paying upfront can help you save thousands in interest charges.

One way to save up is to increase your income for a particular period of time. For example, if you can pick up a side hustle for a few months, funneling those funds into a high-yield savings account earmarked for your bootcamp could make a big difference.

Income-Sharing Agreements

An income-sharing agreement is a type of financial contract that involves committing to paying a percentage of future earnings for a set period of time.

Some bootcamps offer this option. The contract will spell out exactly how long you are expected to share your income, how much you will share, and what income level you must hit before you are required to share some of your income.

While this option can allow you to cover your costs without going into debt, you might regret sharing your income for an extended period. Make sure that you are completely comfortable with the arrangement before moving forward.

Personal Loan

You can use a personal loan to cover any number of costs, including bootcamp tuition and living expenses. Although personal loans tend to come with higher interest rates and shorter repayment terms, borrowers with a high credit score might find exactly what they need through this type of loan.

If you are considering a personal loan, take a look at these top lenders. 

The Bottom Line

A coding bootcamp could transform your career trajectory. With the ability to push your income higher, pursuing an education in tech could be the right move.

If your income grows, make a plan to build a brighter financial future. This includes paying off your high-interest debt, building an emergency fund with several months of expenses, and investing for retirement. Of course, you can also use some of your newfound income to make meaningful changes to your lifestyle. 

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