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Some providers offer scholarships, installment plans or third-party loans to help you pay for your bootcamp. In this section, we’ll discuss the most common funding options.
How Much Is a Machine Learning Bootcamp?
Bootcamp prices for the programs cost an average of about $13,520, ranging from $1,699 to $21,800. Most of these bootcamps cost between $12,000 and $18,000, while KnowledgeHut’s $1,699 price lowers the average significantly. However, these figures only consider five programs, which may not be a large enough sample size to represent typical costs.
Upfront Payment
Upfront payments typically offer the lowest tuition cost, with the caveat that you must pay your entire tuition in one lump sum. While you might save money by paying upfront, this payment option is prohibitive for many students.
Pay in Installments
Installment-based pay allows you to break up payments over the course of your studies. This option gives you a bit of leeway, though you will likely end up paying more over time than with an upfront payment. Some programs require payments during the program, while others allow you to pay after completing the bootcamp.
Income Share Agreement
Like installments, income share agreements (ISAs) split your payments to provide some flexibility. However, the difference lies in how much you pay. Rather than paying fixed installments, ISAs require you to pay a percentage of your eventual income after landing a job. This sliding scale can result in paying significantly more than the original tuition, so make sure you understand the terms before agreeing. Some programs feature price caps.
Job Guarantee
A job guarantee sounds pretty appealing, but just like ISAs, you should read the terms closely. In the simplest sense, most bootcamp job guarantees claim that you can receive a refund if you don’t land a relevant job after completing your bootcamp.
However, most bootcamps place strict restrictions on these guarantees. For example, the company might require you to receive high marks in the program, participate in post-grad career services, and dedicate a certain number of hours per week to your job search. Some job guarantees only apply in metro areas. You may also be required to take a less-than-ideal job or risk forfeiting the refund.
Loans, Scholarships and Other Aid
One significant difference between bootcamps vs. degrees is federal funding. Unlike traditional college programs, bootcamps typically do not qualify for federal financial aid. Still, providers often partner with private lenders, which sometimes offer 0% interest for a given period.
Many bootcamp providers offer need-based scholarships, too, which are ideal because they don’t have to be repaid. You might find scholarships through individual providers, private organizations and membership associations.
The GI Bill® is another form of aid for bootcamps, though not every program qualifies.