Last active
August 29, 2015 14:19
-
-
Save QuincyLarson/2ea46324e6230f2af8c4 to your computer and use it in GitHub Desktop.
This file contains bidirectional Unicode text that may be interpreted or compiled differently than what appears below. To review, open the file in an editor that reveals hidden Unicode characters.
Learn more about bidirectional Unicode characters
The Actual Cost of Coding Bootcamps | |
##Raw cost## | |
***Wage Garnishing Bootcamps*** | |
App Academy (18% * $105,000) = $18,900 + 12 weeks | |
Viking Code School (18% * $105,000) = $18,900 + 14 weeks | |
***Cash Up-front Bootcamps*** | |
Hack Reactor ($17,780 over 3 years at 5.5 APR = $19,328 (financing through Upstart)) + 12 weeks | |
Dev Bootcamp ($13,950 over 3 years at 6% APR = $15,051 (financing through Pave)) + 19 weeks | |
General Assembly ($11,500 over 3 years at 5.5 APR = $12,501 (financing through Upstart)) + 12 weeks | |
***Housing*** | |
Median Monthly rent SF $4,650 / 2 = $542/wk for a room in a 2 bedroom apartment | |
Median Monthly rent NY $3,600 / 2 = $420/wk for a room in a 2 bedroom apartment | |
***Opportunity Cost*** | |
$52,000 median annual income = $1,000 per week in forgone wages | |
***Totals*** | |
App Academy: 18900 + (12 * (542 + 1000)) = $37,404 | |
Viking Code School (online): 17460 + (14 * (1000)) = $31,460 | |
Hack Reactor (in-person): 19328 + (12 * (542 + 1000)) = $37,832 | |
Hack Reactor (online): 19328 + (12 * 1000) = $31,328 | |
General Assembly: 12501 + (12 * (542 + 1000)) = $31,005 | |
Dev Bootcamp: 15051 + (19 * (542 + 1000)) = $44,349 | |
Many of these coding bootcamps argue that putting so much money on the line will pressure you to work harder and succeed in their programs. Looking at these sums of money, we can certainly believe this! | |
So Free Code Camp's community has come up with a way for you to feel this same motivation. | |
Here's how it works: | |
1) Set a realistic goal for your learning (I'll complete all the Bonfires within 2 months) | |
2) Choose a cause you believe in (Health care for children in the developing world) | |
3) Choose an amount ($1,000) | |
Instead of giving money to a coding bootcamp, you'll give money to cause you believe in - but only if you fail to meet your goal. Go to freecodecamp.com/commit and set your goal today. | |
***Sources*** | |
http://www.appacademy.io/?gclid=CIDoh8yUk8UCFRSEfgod_TkAcg#p-faq | |
http://www.vikingcodeschool.com/program | |
https://generalassemb.ly/education/web-development-immersive | |
http://devbootcamp.com/tuition/ | |
http://www.hackreactor.com/questions | |
https://www.coursereport.com/resources/ultimate-guide-to-coding-bootcamp-loans-financing | |
http://www.bankrate.com/calculators/managing-debt/annual-percentage-rate-calculator.aspx |
Sign up for free
to join this conversation on GitHub.
Already have an account?
Sign in to comment