{"id":128034,"date":"2022-12-10T00:34:11","date_gmt":"2022-12-10T08:34:11","guid":{"rendered":"https:\/\/careerkarma.com\/blog\/?p=128034"},"modified":"2024-05-16T08:50:42","modified_gmt":"2024-05-16T15:50:42","slug":"smart-financing-tips-to-pay-for-your-coding-bootcamp-general-assembly","status":"publish","type":"post","link":"https:\/\/careerkarma.com\/blog\/smart-financing-tips-to-pay-for-your-coding-bootcamp-general-assembly\/","title":{"rendered":"Smart Financing Tips to Pay for Your Coding Bootcamp"},"content":{"rendered":"\n

With the abundance of online resources and learning platforms, it\u2019s become easier to learn tech skills for free. The downside is that self-learning requires a lot of effort, time, and patience, as free courses usually lack the structure needed to learn efficiently. Not to mention, most of them only cover the fundamentals and don\u2019t dive into more advanced topics.<\/p>\n\n\n\n

So, enroll in a degree program then, you say. Well, while that\u2019s certainly an option, taking the traditional route also comes with hefty tuition. This brings us to tech bootcamps, which are short-term yet immersive skills training courses designed to bridge the gap between online courses and degree programs.<\/p>\n\n\n\n

But while a tech bootcamp is more affordable than a college degree, it can still be costly to some. To be precise, you can still expect to spend about $11,000 on average<\/a> on a tech bootcamp.<\/p>\n\n\n\n

So, what\u2019s your next option?<\/p>\n\n\n\n

We round up some of the most effective financing tips from tech bootcamp General Assembly<\/a> alums to help you get the training you need and launch your dream tech career.<\/p>\n\n\n\n

4 Ways to Pay for Your Tech Bootcamp<\/h2>\n\n\n\n

A career change does not only mean changing jobs; it could also mean changing your life for the better. This was what motivated General Assembly graduate Jermaine Ward to quit his job as a customer representative and transition into UX design. Jason Klundt, another graduate and a father to five children, was also in the same boat as he left his bus cleaning job to switch to tech with some of his savings.<\/p>\n\n\n\n

Both hoping for a life-changing career switch, Ward and Klundt enrolled at General Assembly\u2019s career change bootcamps, which have tuition fees of $15,950. So, how did they afford their bootcamp training? According to Ward and Klundt, it just takes a little creativity and financial savviness to afford your much-needed tech bootcamp training. Here are some tips they shared.<\/p>\n\n\n\n

1. Have a Support System<\/h3>\n\n\n\n

If you\u2019re in a full-time bootcamp, chances are you will spend at least 40 hours a week for three months attending classes and completing projects. It\u2019s essentially similar to a full-time job. In other words, it would be nearly impossible to work to sustain yourself while in a tech bootcamp. While others have savings to fall back on, this is not the case for everyone.<\/p>\n\n\n\n

With this in mind, Ward advises that you be honest with your limitations and seek help<\/a> from people around you\u2014your partner, family, or friends. In his case, he decided to move back into his parents\u2019 house for the duration of the bootcamp.<\/p>\n\n\n\n

\u201cMy financial situation back then was not good,\u201d shares Ward, \u201cand I knew transitioning to a tech career would be more difficult\u2026I lived with my parents so as not to worry about rent and food.\u201d<\/p>\n\n\n\n

Ward also applied for a loan with the condition of paying it back before it started earning interest. That gave him six months after graduation to secure a job and earn enough to pay it back.<\/p>\n\n\n\n

Klundt, on the other hand, had a little help from his wife to pay for the bootcamp. But that didn\u2019t discount the fact that they still needed to tighten their belts as the economy took a hit from the pandemic. Luckily, he has a thrifty partner managing their expenditures.<\/p>\n\n\n\n

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\nLooking for an affordable tech bootcamp that offers quality learning? Check out General Assembly, a pioneering bootcamp that offers discounts and deferred payment plans to help anyone, including you, break into tech.<\/p>\nGet started here!!<\/a>\n<\/div>\n
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2. Be Conscious of Your Spending Habits and Talk to Finance Experts<\/h3>\n\n\n\n

This advice may seem like a no-brainer, but being aware of how you spend is one of the easiest and most effective ways to manage your finances. Simple things like eating at home, spending less on outings with friends, and using public transportation can save a lot of money. Mobile budget apps let you input your daily expenses and create weekly and monthly reports of where your money is going. This data can help you budget efficiently.<\/p>\n\n\n\n

Ward adds, \u201cStart allocating your money so you know where you\u2019re at financially.”  Knowing your financial status helps you plan better and ease your stress.<\/p>\n\n\n\n

To further secure your finances, Klundt recommends seeking help from a financial expert. \u201cI joined the Dave Ramsey Financial Group, and they helped us get right on track with our finances by simplifying our needs,\u201d he shares.<\/p>\n\n\n\n

Anyone can easily overspend their funds so it\u2019s imperative to know your priorities and cut out what is unnecessary.<\/p>\n\n\n\n

3. Find a Side Hustle<\/h3>\n\n\n\n

A full-time bootcamp is not for everyone. When push comes to shove, consider enrolling in a part-time bootcamp<\/a> that allows you to have a day job. Find a job that pays your bills yet leaves you with enough energy to attend classes at night and complete your deliverables.<\/p>\n\n\n\n

Aside from working blue-collar roles, many students take on freelance projects related to their existing skills. If you can string basic codes or create visual designs<\/a>, you can take them into practice and earn extra money. You could also consider providing specialty skill tutoring gigs, which can earn you above $40 per hour.<\/p>\n\n\n\n

4. Explore Your Tech Bootcamp\u2019s Financing Options<\/h3>\n\n\n\n
\"An<\/figure>\n\n\n\n

General Assembly fully understands the financial hurdles that bootcamp students face. That\u2019s why they offer several financing options <\/a>to help ease your burden. You can opt for deferred payments or special discounts when applicable.<\/p>\n\n\n\n

Deferred Payment Options<\/h4>\n\n\n\n