10 Ways to Finance your Coding Bootcamp in 2021

In our mission to make digital skills training more accessible to wider swaths of people, we have a variety of courses and programs available to our students. You no longer need a several-year long university degree to secure a job as as a developer or a data analyst, or to upgrade your tech skills. Between coding bootcamps, data science bootcamps, and web flex programs, we offer a variety of ways you can receive the accelerated, personalized education that revolutionizes your career. After all, data science and web development careers are two of the most in-demand professions in Canada, with a significant gap between available talent and demand.

Over the past six years at Lighthouse Labs, student after student finds professional success after investing in their careers with us. 95% of job-seeking web bootcamp graduates become employed within 180 days of completing the program.

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While these programs offer an expediated and outcomes-focused path into a tech role, they also come with financial costs. Paying for a reskilling program can be a difficult decision to make, and that financial commitment is not always feasible for all prospective students.

Sometimes the students that can't afford to reskill are those that need a career change the most, so we’re committed to improving accessibility to education and addressing the financial barriers that people face.

To help you with your digital skills training pursuit, we’ve rounded up some of the best options to help you pay for a bootcamp or flex program. From scholarships to bursaries and charitable programs, these funding options can help you find financial relief when it comes to covering the cost of tuition.

Student Line of Credit

Your local private bank or credit union may be one of several viable lenders. Accessing a student line of credit is one option for financing yourself through bootcamp or a flex program. Many banks may offer a student line of credit to help cover tuition costs, living expenses, and even the cost of your laptop. Interest rates are low, and are taken monthly. Check with your local bank to see if you qualify to receive a student line of credit for bootcamp or a flex program based on your credit score.

Pro tip: you don’t have to be with a certain lender for a loan in order to receive a line of credit. Compare lenders' interest rates to ensure you get the best rate for interest repayments.

Student Loans

Government student loans are another great option to assist in covering your school tuition. Lighthouse Labs' web bootcamp and data science bootcamps are approved for Student Aid in B.C. and Alberta. Lighthouse Labs' Web Development Flex Program is approved for student aid in B.C. For more information on this payment plan or to apply for a loan online, you can visit the student loans websites for British Columbia or Alberta.

Caisse Desjardins des Technologies de l'information

Caisse Desjardins des Technologies de l'information offers financing options to students in Quebec and Ontario. At prime rate, you can take out a personal loan to pay for tuition. After graduation, you have four months of grace period before you need to begin to pay back the loan. If you’re interested in this option, you can discuss this option in your admissions interview.

Immigrant Services Society of BC

Immigrant Services Society of BC (ISS of BC) offers an employment-bridging program designed to help internationally trained professionals renew their credentials in Canada, and return back to their profession or seek an alternative career. They help facilitate a low-cost personal loan and offer employment counselling support.

First Nations Tech Council

The First Nations Tech Council (FNTC) are an Indigenous-led not-for-profit working to ensure that Indigenous peoples have the tools, education and support to thrive in the digital age. FNTC provides funded and accredited education programs to advance Indigenous peoples careers in innovation and technology, and Lighthouse Labs offers our 12-week bootcamp programs to prospective students.

Accelerating Possibilities Project

Accelerating Possibilities brings together a consortium of employers, non-profit employment and training organizations and private trainers to prepare mid-career workers for tech-driven jobs in web development, data science and customer service. Accelerating Possibilities is a fast, innovative and practical workforce development approach to assess, train and develop jobs for mid-career workers.

OWN Tech Initiative

Lighthouse Labs comes together with the Ottawa Chinese Community Service Centre, CATA Alliance, My New Job Hunt, Riipen and the Social Planning Council of Ottawa to provide an innovative, made-in-Ontario solution to the employment and skills barriers experienced by newcomer women in the Ottawa and Eastern Ontario region. Sixty newcomer women with a background in IT upskill in a coding bootcamp with in-demand technical skills and complementary soft skills. Then, employment services will be provided to match them with employers to start a coding career commensurate with background and experience.

Learn more about the OWN Tech initative here.

Windmill Microlending

Windmill Microlending is a Canadian charity offering low interest loans of up to $15,000 in payments to help new Canadians with payment plans for education. Since 2005, Windmill has supported over 5,000 immigrants and refugees overcome underemployment and succeed in their careers.

Scholarships - COVID-19 Scholarship Fund

In response to the COVID-19 outbreak, we've pledged $1 million in scholarship funds for our courses. These funds are available to those who face economic uncertainty as a result of the pandemic. This includes job losses, cut hours, and school interruptions. Whether it’s a full career transition or adding skills that would make someone more attractive in this job market, Lighthouse Labs would like to support every individual we can who is currently in a time of need.

Scholarship money is given in either $3,000 and $5,000 increments for bootcamps and $750 increments for part-time courses.

Scholarships - Flex Scholarship

To help with the cost of our Web Development Flex Program, selected eligible students will be given $3,500 to be allocated towards Web Flex. We’re looking for those who have worked in industries that are unstable, the unemployed and underemployed, and those with family obligations.

Accessing COVID-19 or Flex scholarship funds is a straight-forward process, and only takes a few minutes. To apply for a scholarship:

  1. Submit your application online, and pay the deposit if you're applying to a part-time course. (No deposit needed at time of application for bootcamp or a flex program.)
  2. You'll receive an email with your personal link to apply for a scholarship.
  3. Complete the scholarship application and submit your written essay questions to determine eligibility.
  4. We'll let you know of the status of your scholarship roughly three weeks before the start date

Part-time Course Credit

For all graduates of Lighthouse Labs' part-time courses, you're eligible for an $850 credit towards either bootcamp or a flex program. If you're curious about coding or data analytics the introductory courses are a great start, and you'll get half of your money back through a bootcamp or flex program down the road if accepted.

With so many options to choose from, a career in coding or data science is within reach.

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