15 Ways to Pay for Your Education
If a program has a solid return on investment-the employment rate is strong, as is the average graduate starting salary-but you don’t have the money to pay for it, how and where do you start?
At Code Fellows, we believe everyone should have the opportunity to find rewarding careers in tech. In reality, many qualified candidates aren’t pursuing careers in a technology-related field because they get discouraged somewhere along the way. Some lose interest because they lack role models or encouragement, others avoid tech or STEM careers because they perceive workplaces to be unfriendly or outright hostile, still, others simply don’t have the financial means to afford the kind of education necessary to secure a career in tech.
This is why we are more than excited to offer financial aid options that ensure finances do not prevent you from discovering your potential.
Here are 15 ways to help pay for your education:
U.S. Veteran Benefits
- GI Bill®
U.S. Veterans can use their GI Bill® to attend Code Fellows. Learn More
GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government website athttps://www.benefits.va.gov/gibill.
- VET TEC
In order to qualify for the VET TEC program, a U.S Veteran only needs one day of theirGI Bill® benefits available, and they must apply for a VET TEC Certificate of Eligibility (COE) to be approved for the program. Learn More
The Veteran Rapid Retraining Assistance Program (VRRAP) offers education and training for high-demand jobs to U.S. Veterans who are unemployed because of the COVID-19 pandemic. Learn More
- Washington State Worker Retraining Program
The Worker Retraining Program serves those facing unemployment or imminent layoffs. It provides funding for eligible unemployed workers to pursue training and ultimately regain employment. Qualified students may receive financial assistance to help with tuition, covering up to 15% of the total tuition cost. The program is administered by the State Board for Community and Technical Colleges.
To determine if you are eligible for the Worker Retraining Program, please start your course application.
- Basic Food Employment and Training (BFET)
This program provides employment readiness opportunities to Basic Food (SNAP) recipients who are not participating in the Temporary Assistance for Needy Families.
BFET is an important part of the state’s comprehensive workforce development system, helping low-income individuals, displaced workers, and employers reach their human potential by encouraging economic well-being through skill acquisition, personal responsibility, and gainful employment.
Through this partnership students who qualify are eligible to enroll in our 101, 102, 201, and 301 courses at no cost. In addition, students are eligible to request additional services including a laptop in order to attend class.
- Ascent, a loan provider that only works with the highest-rated code schools across the country, provides full-tuition loans, plus a housing stipend for full-time students. With new, flexible loans options for full- and part-time students in 102 through 401 courses, Ascent makes it easier to focus on your education and job search. Learn more or apply here.
- Climb Credit offers affordable financing for any combination of 102, 201, 301, and 401 courses with high approval rates and low monthly payments. Students can apply online on their own or with a co-borrower and will find out if they are pre-approved within minutes. Applying does not affect your credit score. Learn more or apply here.
You can view more information on either lender’s deferred loan options here. You can also use Climb’s interactive quiz to determine what option is best for your situation.
Income Sharing Agreement (ISA)
- MentorWorks is our ISA partner and they are changing the game when it comes to education finance and career enhancement tools, providing students with the flexibility to pursue their chosen career path without the burden of student loans.
ISAs are an innovative alternative to loans. In short, students pay a percentage of their future income for a set period of time, up to a maximum cap, without accruing interest.
Unlike a loan, students do not pay until they find a job and reach the minimum income threshold. The payments adjust according to the level of the student’s income — a true outcome-based model with other downside protections for the student!
Learn more about the MentorWorks ISA program issued by Blue Ridge Bank, N.A. with these downloadable details: ISA Information Packet (pdf) and ISA vs. Loans Comparison Chart (pdf)
Whether you are a Black American, Native American, Hispanic American, career changer, recent college graduate, woman, code school student looking to join a better program, military veteran, or are unemployed or underemployed, we want to help you find a rewarding new career in tech. Learn More
- Diversity Scholarship
Through our Diversity Scholarship, individuals that come from underserved backgrounds that are not well represented in the tech industry are able to apply for scholarships.
In addition, we offer (1) full-ride scholarship to a Black American in every cohort.
- COVID-19 Scholarship
Individuals that have lost their job as a result of COVID-19.
- Career Changer
Individuals looking to change their career and join the tech industry.
Individuals who are underemployed and making less than $35k a year.
- Recent Graduate
College graduates who have graduated within the prior 24 months and want to find a more rewarding career path.
- Pay it Forward
Individuals who can show how they are already making a difference in their community, whether through serving or investing to bring about positive change.
- Transfer Student
Individuals looking to transfer from a university, college, Bootcamp, or other educational institution.
If you’d like some help figuring out more options for financing your education, we’re here to help! Schedule a call with an Admissions Team Member Today!
Originally published at https://www.codefellows.org.