Tech Bootcamp Has New Loan Option
Local software development bootcamp DevLeague recently launched a partnership with New York-based loan provider Climb to offer DevLeague students finance options, in an effort to increase the program’s accessibility and reduce debt for participants. DevLeague provides hands-on education and mentorship for students looking to jumpstart a career in the tech industry.
“This essentially removes one barrier of getting into DevLeague,” explains DevLeague co-founder and director of operations Russel Cheng.
Climb aims to make education more affordable for students at schools and in programs that have a proven record of expanding possibilities and increasing earning potential for graduates. Through its tuition loans, Climb has financed more than 55,000 students.
DevLeague already has payment programs in place, but organizers hope that the Climb funding can make the course a possibility for a greater number of students. The loan requires students to make a $1,000 payment up front, with different financing options from there, enabling students to pay tuition in smaller monthly increments. Up to 90 percent of DevLeague tuition can be financed through Climb. Students also can opt to pay interest-only for up to three months after graduation.
And according to DevLeague grad trends so far, that means they’ll probably have a job by then. The first DevLeague cohort completed the program last spring, and all five of them had landed jobs within three months. The verdict is still out on the second cohort — which graduated earlier this month — but one of them was offered a job before the program ended.
“This enables them to defer payments until after they are working — and when they graduate, the typical salaries coming out of our DevLeague programs in the past have been $40,000-$50,000 in Hawaii,” Cheng says.
“There is a huge growth of technology jobs that are high-paying and high-demand,” he adds.
The value of DevLeague was demonstrated in the most recent Startup Weekend held earlier this month. Several current DevLeague students, just a few weeks into their program, participated — and three of them were part of the winning team.
“Essentially, it was almost a hijack of (Startup Weekend),” Cheng jokes. “There was (DevLeague) representation on multiple teams.
“They are already contributing in a material way,” he adds.
The next full-time DevLeague course begins Jan. 12; deadline to apply is Dec. 12. The next part-time session will begin in March. To apply, visit devleague.com/apply.