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8 Steps to Minimize Coding Bootcamp Debt

Climb Credit recently teamed up with Course Report to provide eight ways you can reduce your coding bootcamp debt. From looking at your budget and making sure you don’t over-borrow to figuring out who your loan servicer is, these tips are here to help you navigate your student loan more easily and arm you with the knowledge needed to make your financing work best for you. Check out a quick excerpt below, and then click the link to read the full post!

1. Start saving and budgeting before coding bootcamp

In the months before you begin class, spend some time putting together a budget. One thing that makes managing a budget easier is a budgeting tool, whether you need one created for you, or want to make a personalized one.

Some specific actions you can take to save up money before school are:

  • Spend less on eating out or ordering takeout.
  • Delay those impulse purchases (just because you see something you want go on sale doesn’t mean you suddenly need it).
  • This may be the most difficult one – don’t worry too much about the fear of missing out (FOMO). Seeing pictures of your friends at that concert won’t be fun, but trust us, saving that money will be worth it in the long run. And besides, there are plenty of inexpensive, if not outright free, things to do out there.

2. Calculate how much you can afford to borrow for bootcamp tuition

Cost undoubtedly impacts your decision, but the importance of cost depends on a students’ circumstances. You should also consider the end result; not just the initial investment. The tuition at one bootcamp may be higher, but also provide better class resources and career support. If a student can land a better job with a higher salary after graduation, then the education could more than pay for itself.

Looking online and reading reviews on websites like Course Report, visiting campuses, and hearing from alumni can help you get an idea about whether the price is worth the product, and whether the program will help you reach your goals in a financially responsible way — which is especially important if you’re going to be taking out a loan.

PRO TIP: You only want to borrow enough to help you through your education – an education that gets you to your career goals.

3. Avoid borrowing more than you need

The amount you need to borrow depends on each individual student’s situation. If you aren’t working but still need to buy groceries, pay rent, or pay any other living expense, then borrowing some extra money for living costs on top of the tuition can be beneficial.

But it’s important to figure out exactly how much you’ll really need — track your spending, and then figure out which things are necessary expenditures. Borrowing more living expenses than necessary may be tempting, but you’ll just need to pay more back in principal and interest down the road.

Coding Bootcamp Debt

2 thoughts on “8 Steps to Minimize Coding Bootcamp Debt

    1. Hi Janet, thank you for reaching out! Climb abides by each school’s cancellation and refund policy. We kindly suggest reaching out to your school’s financial aid office to inquire about their cancellation policy.

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What to Expect: Realistic Outcomes

Climb’s Comprehensive Access Solution can offer a strategic balance of increased enrollments and upfront cashflows compared to traditional lenders. While no financing solution guarantees 100% collection, our data-driven approach maximizes both upfront cash and long-term repayment rates.

Typical Partner Results:

  • 15-30% of students qualify for Climb Loans with upfront tuition delivered to the school shortly after course start
  • 45-60% of students qualify for 0% APR* payment plans
  • Enrollment increases of 20%+ reported by partner schools**

**Results vary by school and student demographics. This represents performance reported by individual school partners and should not be considered a guarantee of your specific outcomes.

The bottom line: CAS is designed to maximize your net tuition recovery while eliminating the administrative headaches of student financing.

Maximizing Your Results

Pro Tip: Schools that require student deposits and set up automatic payments during enrollment see significantly better repayment performance across all financing options. These simple steps can meaningfully improve your outcomes.

FAQs

We use a comprehensive, AI-driven assessment that goes beyond traditional FICO scores to better serve career training students:

  • Climb Credit Score: Over 150 data points specifically designed for vocational students
  • Debt-to-Income Ratio: Reliable predictor of payment performance
  • FICO Score: Used primarily for interest rate assignment

Key advantages of our approach:

  • Soft credit pull until loan funding (no credit impact during application)
  • The majority of students receive instant decisions
  • Students can apply with co-borrowers directly in the application
  • More accurate placement into appropriate financing products

We use a comprehensive, AI-driven assessment that goes beyond traditional FICO scores to better serve career training students:

  • Climb Credit Score: Over 150 data points specifically designed for vocational students
  • Debt-to-Income Ratio: Reliable predictor of payment performance
  • FICO Score: Used primarily for interest rate assignment

Key advantages of our approach:

  • Soft credit pull until loan funding (no credit impact during application)
  • The majority of students receive instant decisions
  • Students can apply with co-borrowers directly in the application
  • More accurate placement into appropriate financing products

Students are placed into funding brackets (Elite, Standard, Enhanced) based on our AI assessment. Higher-credit students generate higher upfront payments to your school, while students with limited credit are seamlessly directed to our 0% Payment Plan.

These brackets are established using data from over $1 billion in career training loan originations and may be adjusted periodically based on updated repayment trends.

Important note: Regardless of which bracket a student falls into, they are considered fully paid by your school once funded. The student’s repayment obligation exists exclusively between Climb and the student.

Elite Access not available for Computer Science programs. Upfront percentages vary by industry and loan terms.

Once Climb disburses upfront funding for a student loan, that student is considered fully paid by your school. You will not receive any additional payments for that student—the single upfront payment is complete and final.

From that point forward, the student’s repayment obligation exists exclusively between Climb and the student. Your school has zero liability if the student defaults, and you keep the full upfront payment regardless of the student’s future payment performance.

They’re automatically offered our 0% Interest Payment Plan, ensuring no student is turned away while maintaining steady monthly cash flow for your school.

Higher-credit students generate larger upfront payments (75-100% of tuition), while students with limited credit use our 0% APR* Payment Plan for consistent monthly revenue. Both options are risk-free for your school

Absolutely. Climb complements existing payment options like scholarships, employer-sponsored programs, and internal financing.

Absolutely. Climb complements existing payment options like scholarships, employer-sponsored programs, and internal financing.

Typically, within 5-10 business days after your partnership agreement is signed.

Comprehensive onboarding webinar, continuous partner support via AI-assisted chat and live email—and real-time borrower assistance with our live-chat-available student success team.

No. Climb fully manages the administrative responsibilities—your team simply monitors your school’s performance via our intuitive School Portal.

Your school is fully protected either way. For Climb Loans, you keep the entire upfront payment with zero liability. For Payment Plans, you only receive what students actually pay, with no risk to your school.