Coding bootcamps are more popular than ever. Coding skills are a great way to increase your job options and maximize your salary potential. While the top coding bootcamps offer flexible payment options, if you study in person in an expensive city like San Francisco, the cost of living is high. One thing that can help is a coding bootcamp with living stipend options.
A bootcamp with stipend programs helps alleviate unnecessary financial stress for students. Furthermore, it means students can attend programs without having to work a full-time job to fund the costs. Coding bootcamp living stipends allow students to focus on their studies and make the most of their learning.
What Exactly Are Coding Bootcamps With Living Stipends?
Coding bootcamps with living stipend options are bootcamps that pay you. Typically, an educational stipend is a fixed, regular sum of money given to a student in exchange for work. These are often monthly payments. It can also be awarded as a scholarship. Above all, a stipend is not a wage and does not fund the entire cost of attending a bootcamp.
If you are receiving a coding bootcamp stipend, you are not an employee of the bootcamp. This is simply a coding bootcamp monthly stipend meant to help with living expenses so you can focus on your studies. Every program has its own rules and policies for its stipend options.
Government Stipends vs Living Stipends at Coding Bootcamp
Living stipends are provided by a bootcamp provider and have varying terms. They typically cover living costs for students, but won’t help with other costs such as tuition. Government-funded coding bootcamp stipends are a form of financial aid and are favorable compared to living stipends as some of these programs will even help you pay for housing.
Government Stipends
The goal of these stipends is to provide students with the resources to get their careers started. Some schemes offer up to $3,000 a month if they are retraining. That means if you attend a full stack web development bootcamp to learn coding skills for a new career, you will have an easier time finding good government stipends.
There are also some employer-specific programs like the Honeywell Initiative for Returning Engineers. These will still fund a full stack web development bootcamp, but you are not required to be retraining for a new career. Either way, you can meet your career goals while paying bootcamp living expenses with a stipend.
Coding Bootcamps With Living Stipends or Free Housing
There are plenty of coding bootcamps with flexible payment options such as interest-free loan repayments or deferred tuition. However, finding a coding bootcamp with housing or living stipends is more challenging, and strong bootcamps like Lambda School and Fullstack Academy don’t offer stipends. Below are the best coding bootcamps with living stipends or free housing.
Devmountain
- Type of Assistance: Free housing
- Eligibility Requirements: Full-time enrollment, in-person students, limited places
Devmountain is one of the few coding bootcamps with housing included at no extra cost for in-person, full-time learners. Students who wish to take advantage of this free accommodation must request housing during the application process. Places are limited, so students are advised to apply early. Unfortunately, Devmountain bootcamp housing is currently unavailable due to the pandemic.
Hacker Paradise
- Type of Assistance: Free housing
- Eligibility Requirements: Enroll in a bootcamp program
Hacker Paradise organizes various coding bootcamps in destinations worldwide. Global students come together to learn and collaborate. Housing is included as part of the Hacker Paradise tuition costs. Students will have a private room and access to a co-working space with modern facilities and resources.
iXperience
- Type of Assistance: Free housing
- Eligibility Requirements: Pass an entrance interview
iX Summer Abroad offers students a unique six-week bootcamp experience. Learning is career-focused and includes a hands-on internship. Students from the US can attend campuses in Portugal or South Africa. Accommodation is a shared space, with two to five students per room, and is included in the cost of tuition.
Thinkful
- Type of Assistance: Deferred tuition with a living stipend
- Eligibility Requirements: Enrolling full-time, at least 18 years old, US citizen or green card holder, pass a background check
Full-time students can attend a Thinkful program without any upfront costs. Furthermore, through Ascent funding, students will receive a living stipend of $1,500 per month. However, while tuition does not have to be repaid if you don’t find employment within six months, living stipend repayments start once you graduate, regardless of if you find work or not.
Coding Bootcamps That Pay You: Scholarships
Aside from living stipends for coding bootcamps, there are plenty of scholarships available to fund your education and assist with your living expenses. If you can’t find coding bootcamp with living stipend programs that work for you, finding a coding bootcamp with scholarships is the next best thing. While you aren’t technically getting paid, your education is being funded.
There are a variety of scholarships available at top bootcamps. Some coding bootcamps, like App Academy, offer rotating scholarships. Prospective students should check in with the admissions team before applying. There is a wide variety of scholarships available such as merit-based scholarships, athletic scholarships, needs-based scholarships, and scholarships for minorities.
These different scholarships may not cover the entire cost of your tuition, but the cost of your program will go down significantly. You may also be able to combine these scholarships with an educational stipend to potentially cover the entire cost of attending the program.
What If You Don’t Qualify for a Coding Bootcamp With Living Stipend Program?
If you aren’t eligible for a coding bootcamp living stipend, you can work part-time to cover the entire cost of studying at a bootcamp. Some jobs that work well with the busy schedules of full-time students include bartender, cashier, barista, house sitter, retail associate, and pet minder. Some companies you should consider for freelance and part-time work include Uber, Postmates, Task Rabbit, and Fiverr.
Coding Bootcamp Scholarships, Stipends, and Housing with Career Karma
As a student, you should be able to find a coding bootcamp that pays you or a coding bootcamp with living stipend options. If not, you may qualify for scholarships like the ones offered by the Grace Hopper Program. Either way, you are on your way to becoming a great addition to the tech industry.
If you need help with scholarships, bootcamp housing, or coding bootcamp living stipends, Career Karma can help you. We offer advice every step of the way to ensure your future career success. If you sign up with us, you may be eligible for an ISA. That means you won’t have to pay for your coding bootcamp program until you find a job after graduation.
Coding Bootcamp With Living Stipend FAQs
People can pay for coding bootcamp with an income share agreement (ISA), loans, deferred tuition plans, upfront payment, or scholarships. Each bootcamp offers different payment options, so be sure to check with the admissions department before enrolling. You may even find some programs, like the Grace Hopper Program, that work with multiple bootcamps.
How can I qualify for a scholarship at a coding bootcamp?
You can qualify for scholarships at coding bootcamps by meeting the eligibility requirements. These requirements vary depending on the type of scholarship you apply for. For example, needs-based scholarships require students to show evidence of financial need such as their parent’s income tax return or a house visit.
Are coding bootcamps tax-deductible?
If you attend a coding bootcamp to maintain your current job or skills, it will likely be tax-deductible. This is important to know as a large percentage of bootcamp students will need to file their taxes.
Will my employer pay for a coding bootcamp?
Some employers will assist in paying bootcamp tuition or even cover the entire cost for their employees. This is especially true if the curriculum includes necessary technical training for the job. If your employer will not assist in funding your education, you can always look for a coding bootcamp with living stipend programs.
About us: Career Karma is a platform designed to help job seekers find, research, and connect with job training programs to advance their careers. Learn about the CK publication.
