Funding Spotlight

How to Pay for Springboard

Jess Feldman

Written By Jess Feldman

Liz Eggleston

Edited By Liz Eggleston

Last updated on June 6, 2024

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Springboard knows that bootcamp tuition can be expensive, so they offer a variety of payment options to meet the needs of their incoming students. We spoke with Nicole Crescenzi, the Dean of Admissions at Springboard to learn more about their monthly payment plans, financing options, and their four, need-based scholarships. Find out why Springboard offers Deferred Tuition instead of an Income Share Agreement, and the kinds of salaries graduating Springboard students typically see! 

The 4 Payment Options at Springboard

 

Deposit Required?

Repayment Terms

Pros

Cons

Upfront payment

No

N/A

This is the best value payment plan because you get a discount on tuition!

You need to have the entire amount owed before day one of bootcamp.

Monthly payment

Yes

This plan is “pay as you go” so you only pay for the months you’re enrolled.

This is the most flexible payment plan since you only pay for the months you need!

You will need to pay every month while you are studying. 

Financed loan

Yes

You will make low, interest-only monthly payments while in the course. You will pay off the loan in monthly installments after graduating.

Financing allows you flexibility if you are unable to cover the entire tuition at the start of the bootcamp.

You will be making interest payments.

Deferred Tuition

Yes

You will only pay back tuition after you graduate from the bootcamp and start a job.

Deferred Tuition means no monthly payments while you’re studying at Springboard. You only begin to pay after you start a job, and the tuition is the same regardless of your new job’s income.

You will be making interest payments. 

  1. Upfront - This is the best value! When you pay upfront, you get a discount on tuition. 
  2. Month-to-month - This is the most flexible option; pay only for the months you need.
  3. Financed loan - This requires you to enroll with a small deposit. You’ll make low, interest-only monthly payments during the course, and then pay the loan off in monthly installments after the course.
  4. Deferred tuition - With Deferred Tuition, you will need to enroll with a small deposit. You’ll pay the rest of your tuition in monthly installments only after you start a job. There’s no monthly payments during the course, and tuition is the same regardless of your new job’s income.

When a student is applying to Springboard, who will they speak with about tuition payment options?

As soon as you apply, you’ll be connected to one of our Admissions Directors for a live Fit Interview. During this conversation, you’ll be asked thoughtful questions to gain a better understanding of your learning and career goals to determine whether the Springboard Career Track is the right fit for you, and to ensure that you have all the information you need about the program. As part of this interview, your Admissions Director will walk you through various payment options, compare plans, and help recommend which path is best for you based on your current financial situation and preferences.

What is your advice to incoming students on how to choose the best payment option for them?

Each plan has a benefit, based on what is right for your own situation. Choosing one of these options is based on personal factors related to your schedule, your personal budget, and other eligibility details. 

To help illustrate this, let’s walk through some scenarios: 

  1. If you are able to pay the full tuition upfront, this may be easiest because you’ll receive a discount on the overall cost of the program (this discount varies per course, but is 17% on average). We understand that many people don’t have this level of financial liquidity, so we have other plans that can meet you where you are currently. 
  2. If your schedule is flexible enough such that you can dedicate more time to the course, you may be able to finish faster than the expected 6-month or 9-month timeline. In this case, the month-to-month option might be best for you. This plan is “pay as you go” where you only pay for the months you’re enrolled (e.g., if you complete the course in 5 months, you only pay the monthly rate for 5 months).
  3. If you’re more budget constrained, you can consider applying to either our financed loan or Deferred Tuition options. Your choice here will largely depend on your preferred minimum monthly payment amount, how soon you want to start those payments, and if you are approved by our lending partners. It’s also important to remember that the upfront or month-to-month options may be less expensive than financing or deferred tuition (which have the additional cost of interest). 

Overall, what kind of outcomes can Springboard students expect?

Our courses help students achieve life-changing results. Since 2016, we've helped over 10,000 students launch fulfilling tech careers through cutting-edge curricula, human support, and a personalized approach to online learning. Most students who graduate from Springboard enjoy a substantial boost in salary (an average ~$25K increase), and the top hiring companies for Springboard Career Tracks include Amazon, Google, and Accenture.

Some quick stats overall: 

  • 91.5% of job-qualified individuals received a job offer within 12 months of graduation 
  • 79.9% of job-qualified individuals received a job offer within 6 months of graduation 
  • $25,310 is the average salary increase as reported by students who provided pre- and post-course salaries
  • $83,912 is the average starting salary for first employment after the program

After you apply, your Admissions Director will cover your own potential return on investment, by walking you through the median salary range for the targeted role per Career Track and comparing that to your current salary and location. This will give you a clear illustration of what your individual job outcome and salary might be after the program, assuming you dedicate appropriate work into the course and portfolio of projects, as well as factoring in your incoming experience.

Springboard’s Job Guarantee

We believe in our program and we believe in your ability to land a job in six months of graduating, or we’ll give you a full refund. For incoming students, here’s the process for how we grant them our Job Guarantee: 

  1. Determine eligibility: Prior to enrollment, you’ll work with your Admissions Director to determine if you’re eligible. Consult the terms and conditions for the course you're interested in, as eligibility criteria may vary.
  2. Get in-program support: During the course and job search, you'll have full access to all of our career services and coaching, regardless of your eligibility for the Job Guarantee.
  3. Access career coaching for 6 months post course completion: Following course completion, our career services team and your personal coach will support you for six months in the job search.
  4. Land a job or your money back: If you are unable to secure employment and have met all the Job Guarantee requirements set out in those six months, you will receive a full refund of your tuition. (See Career Track pages on our website for terms.)

The Basic Eligibility Criteria for Springboard’s Job Guarantee

The criteria listed below are a starting point in the process and do not guarantee eligibility for the Springboard Job Guarantee. Each course has specific milestones detailed in the terms — see Career Track pages on our website for more.

  • You must be proficient in spoken and written English, as determined by interactions with our team across admissions, student advising, and career services.
  • You must be 18 years or older and be eligible to legally work in the US (or in Canada if applying for positions in Toronto).
  • You must be able to pass any background checks associated with jobs that you apply for.
  • You must hold a bachelor’s degree from an accredited educational institution (excluding in the Software Engineering, Cybersecurity, and Tech Sales Career Tracks, where if you have relevant industry experience, this may compensate for lack of a Bachelor’s degree).

Paying Tuition Upfront vs Monthly Payments

Are there financial benefits of paying for the bootcamp tuition upfront?

Yes! If you are able to pay the full tuition upfront, you’ll receive a discount on the overall cost of the program. This discount varies per course, but is 17% on average.

Does Springboard offer monthly payment plans to those who would rather not take out a loan? For how long do these monthly payments typically last?

We do! Our month-to-month option is a great option if you would rather not take out a loan. In this plan, the total cost of the course is divided into equal monthly payments based on the estimated course length (6 or 9 months).

Month-to-month is also our most flexible plan. Our course duration estimates are based on students devoting 15-20 hours per week of study. If you can dedicate more time and finish faster, you'll only pay for the months it took you to complete the course. Further, the job search period does not require any payments.

Do Springboard’s payment options include a refund policy?

We have a 7-day full money-back guarantee that applies to all payment options. Here's how it works: Your trial starts the first day of the cohort. You are given full access to the curriculum and you'll also have your first video call with your mentor during the first 7 days of the course. This means you can make an informed decision on whether this course is right for you within that trial period. If you don’t feel the program fits your needs, you can request a refund within these first 7 days and you’ll get 100% of your payment back. 

Deferred Tuition at Springboard

Our Deferred Tuition option allows you to enroll now and pay later. In this plan, you’ll pay a small upfront deposit ranging from $500-$700, depending on the course, to start your program. You will not make any other payments until after you start your new job.

For how long should students be expecting to make monthly payments?

Once you start your new job, you'll make 36 monthly payments on the remaining tuition plus interest (i.e., excluding your deposit). If you pay this remainder off in a shorter time period, there's no prepayment penalty and you'll pay less than if you take the full 36 months.

If you meet all our job search requirements and milestones and still don't land a new job within 6 months of graduation, you will be refunded your enrollment deposit, and not owe us anything more. 

How is Deferred Tuition different from an Income Share Agreement (ISA)?

ISAs take a percentage of your income. You could pay thousands based on your own success (i.e., the higher salary job you land, the more you owe). With Deferred Tuition, you know exactly how much you will be charged, no matter how good your outcome. We partner with Ascent to enable this option. 

Financing Your Springboard Tuition

At Springboard, we have relationships with financing partners. If you'd like to finance your tuition through a loan, you'll first submit a loan application through our partner, Climb Credit. Please note that applying to check your loan offer will not affect your credit score.

If approved by Climb, you'll pay a deposit prior to starting the course followed by monthly interest payments during the course. Once you graduate, you'll pay the remainder of the loan in monthly installments over 33 or 36 months. 

If you choose to pay the loan back faster, there is no prepayment penalty. If you do not complete the program, we will adjust your loan amount to reflect your time active in the course.

Typically, what kinds of APR rates for a bootcamp tuition loan can Springboard students expect?

APR rates for Springboard students range from 5.99% - 18.49% based on approval from Climb. You will receive an individualized offer depending on your personal credit history and financial situation. On the lower end, using our Data Analytics Career Track as an example, this could look like paying $57 per month in interest-only payments during the 6 months of the program, and then paying $345 per month for the next 36 months after completion (using a 5.99% APR).

Tuition Scholarships at Springboard

At Springboard, we believe increasing diversity in tech starts with greater access to education. That’s why we’ve provided more than $2.5M in scholarships since 2016, and committed $10M more through to 2030!

Springboard offers four primary scholarship programs including: Women In Tech; Diversity In Tech; Needs-Based; and Career Reboot. Each of these programs is meant to enable a historically underrepresented group to take a program with us, or to support folks who need assistance in order to make a big life transition. 

We also offer scholarships to students who have been laid-off and are looking for assistance. In addition, we've partnered with leading corporate and community organizations to offer full and subsidized scholarships in specific fields.

Can these Springboard scholarships be combined? 

Most of our scholarships are not stackable with other discounts or promotions. One exception is our Dual Scholarship. This scholarship offers a $1,500 discount off of your tuition, and requires you to be eligible for both our “Needs-Based” scholarship and either our “Diversity in Tech” scholarship or our “Women In Tech” scholarship. This is applicable to all Career Tracks.

Can scholarships be combined with any other payment option, such as monthly payments, financing, or Deferred Tuition?

Our scholarships can be applied to all payment plans, except Deferred Tuition.  

Do students need to complete a separate application to be considered for any of these scholarships?

Yes, you’ll answer a few scholarship-based questions when you apply to our programs. 

Free Resources for Springboard Applicants

On our website, you can find Learning Hubs for each of our course verticals, like this one for Design. You can also find a multitude of other free resources, which we organize into what we call “Learning Paths” and E-books. Our Learning Paths cover Data, Design, Coding, Cybersecurity, and Digital Marketing.  

We also offer preparatory courses and intro courses if you’re looking to enroll in a Career Track but feel the need to brush up on your skills first (e.g., our Software Engineering Career Track Prep Course or our Introduction to Design). If you move on to a Career Track after one of these programs, your preparatory tuition will be applied towards your Career Track.

Find out more and read Springboard reviews on Course Report. This article was produced by the Course Report team in partnership with Springboard.

About The Author

Jess Feldman

Jess Feldman

Jess Feldman is an accomplished writer and the Content Manager at Course Report, the leading platform for career changers who are exploring coding bootcamps. With a background in writing, teaching, and social media management, Jess plays a pivotal role in helping Course Report readers make informed decisions about their educational journey.

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