> I'm 1.5 years out of a coding bootcamp I paid about $12,000 for. At a 17% rate, I would have paid $11,500 already, and would be on track to pay $22,950 more if I stay at my current job for 1.5 more years
But you needed that $12,000 upfront, which means you spent time in crappy jobs to save up for it. Time that could have been spent in your new job making more money, so you're not accounting for that wage difference, ie. if it took you 6 months to save that $12,000, how much faster could you have made it at the new job had you started code camp earlier?
> But you needed that $12,000 upfront, which means you spent time in crappy jobs to save up for it.
That's what loans are for. The question is, do you want to take the risk or do you want to offload that risk?
Maybe the factor is more than just risk. By giving someone a vested interest in your success, they might also be there with other support after the class is done, such as job hunting.
I know it's not a fair comparison anymore since I realize that Holberton is 2 years and not a "bootcamp" but most bootcamps offer a certain period of time for you to repay the tuition fee.
For example, at the bootcamp I did, I think there was a 1000 fee due before 1st day of class, a couple more during the bootcamp, then 5k due 6 months after the last day of class.
But you needed that $12,000 upfront, which means you spent time in crappy jobs to save up for it. Time that could have been spent in your new job making more money, so you're not accounting for that wage difference, ie. if it took you 6 months to save that $12,000, how much faster could you have made it at the new job had you started code camp earlier?