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If you’ve read the news lately, you likely know that there is a huge tech gap: there are lots of tech jobs open, and a need for people to fill them. Unfortunately, many people don’t have the skills to take on computer programming and other tech-based jobs.
Coding bootcamps hope to change that.
These bootcamps teach people the skills they need to become computer programmers.
These technical training programs typically last for 8-12 weeks and are highly concentrated with the most relevant coding information. By the time you complete a coding bootcamp, you should have all the skills you need to build web applications and take on a high-paying job in the tech industry.
That sounds great, but there is one catch: These bootcamps can cost thousands of dollars. Unless you have an extra $5,000 to $30,000 lying around, you will need some sort of financial help to attend the bootcamps.
Fortunately, you have a couple of options for this: You can go with federal financial aid or you can secure a loan from a private lender.
On this page:
Federal Financial Aid for Coding Bootcamps
At one time, it was impossible to receive federal financial aid for coding bootcamps. The programs didn’t meet the strict federal financial aid guidelines, and the creators were fine with that. The creators happily worked outside of federal regulations and still managed to attract countless students.
It didn’t take long for the federal government to understand the importance of coding bootcamps, though.
The EQUIP Program
The government realized it could help more students attend these bootcamps by offering federal financial aid, which meant opening itself up to non-traditional educational platforms.
With that in mind, it decided to launch EQUIP (Educational Quality through Innovation Partnerships). This is still in the experimental phase, but as of now, it provides financial aid for a select number of programs. If this experiment works, expect the government to add additional coding bootcamps into the mix.
There Are Limited Federal Options
If the EQUIP experiment is any indication, the federal government is only going to provide federal funding for low-income students. Also, expect regulations to come into effect as the experiment grows. These regulations will likely have a large impact on bootcamps that participate in the federal program.
Since most potential students won’t be eligible for federal student loans for coding bootcamp, they will need to obtain funding from private lenders. These lenders offer a bit more flexibility for students.
Ask the Expert

Artur Meyster
Co-Founder and CTO of Career Karma, a marketplace that matches people to coding bootcamps.
Over the last 3 years, coding bootcamps became more accessible due to the wide spread of Income-Share Agreements. Back in 2015 when I was attending a coding bootcamp, most bootcamps required you to pay the full tuition upfront and that eliminated the majority of the people. As the coding bootcamp model become more prominent, schools with strong job placement records began to provide deferred tuition and Income-Sharing Agreements to transfer some of the risk from the student to the school. Fast forward to 2019, most bootcamps are offering Income Sharing as a viable alternative to help low income students start new careers in technologies.
Private Loans for Coding Bootcamps
Since private student lenders typically require you to be enrolled full-time in a Title IV institution, it can be hard to find student loans for bootcamp. If you have a lender in mind that you’d like to try applying with, contact their support team and ask if your bootcamp is eligible.
If your bootcamp isn’t eligible, personal loans are an alternative. The personal loan lenders below allow you to take out loans for coding bootcamp. Some lenders even partner with certain bootcamps.
LightStream
Rates (APR)
3.49% – 19.99%
with AutoPay
Loan Amounts
$5,000 – $100,000
Credit Score
660+
LightStream ranks as our best overall personal loan lender with low rates, no fees, and a Rate Beat program in which they will beat any rate a competitor offers by 0.10 percentage points. Borrowers can add a cosigner to their application to meet eligibility requirements.
- Credit score category: Excellent, good
- Soft credit pull to check rates: Not available
- Deposit time: As soon as the same day
- Origination fee: 0%
- Late fee: None
- Discounts: 0.50% interest rate reduction for enrolling in autopay
- Repayment terms: 24 – 144 months
Upstart
Rates (APR)
6.27% – 35.99%1
Loan Amounts
$5,000 – $30,0002
Credit Score
620+
Upstart is a good option for borrowers with fair credit or bad credit as they offer competitive rates, a large range of loan amounts, and funding in as fast as one business day3. Upstart has partnered with 17 coding bootcamps and if you are approved to attend one of them, you can be approved by Upstart without a college degree or job.
- Coder Camps
- Code Fellows
- Coding Dojo
- Dev Bootcamp
- Dev League
- Dev Mountain
- Fullstack Academy
- gSchool
- Hack Reactor
- Hackbright Academy
- Iron Yard
- Launch Academy (Learn on Campus Only)
- Metis (Kaplan)
- MakerSquare
- The Iron Yard
- RefactorU
- Turing
- Credit score category: Fair, bad
- Soft credit pull to check rates: Yes
- Deposit time: As fast as one business day3
- Origination fee: 0% – 10%
- Late fee: $5 or 15% of payment (whichever is higher)
- Repayment terms: 36 months or 60 months1
Consider Your School’s Partnerships
Finally, you can secure funding faster by considering the partnerships between schools and lenders; most lenders have preferred programs.
Enrolling in one of these programs will help the process go much faster so you can get started with your bootcamp sooner – if you’re ready to start a new career, every day counts.
Bottom Line
Coding bootcamps are growing in popularity, which has caused new funding sources to open up. Consider your funding options and select one that has the terms you need to succeed. Selecting a loan with favorable terms will ensure that you can pay it back in a timely fashion. Then, you can begin enjoying all of that extra money you’ll make as a computer programmer.
1 The full range of available rates varies by state. The average 3-year loan offered across all lenders using the Upstart platform will have an APR of 15% and 36 monthly payments of $33 per $1,000 borrowed. There is no down payment and no prepayment penalty. Average APR is calculated based on 3-year rates offered in the last 1 month. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.
2 Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. Loans are not available in West Virginia or Iowa. The minimum loan amount in MA is $7,000. The minimum loan amount in Ohio is $6,000. The minimum loan amount in NM is $5100. The minimum loan amount in GA is $3,100.
3 If you accept your loan by 5pm EST (not including weekends or holidays), you will receive your funds the next business day. Loans used to fund education related expenses are subject to a 3 business day wait period between loan acceptance and funding in accordance with federal law.
Author: Jeff Gitlen
