We are announcing two additions to the financing options for regular tuition students in the full-time Web Developer program.
The first addition is that we are giving students borrowing from Sallie Mae the ability to borrow the full tuition amount, including the deposit amount. This is the first time we have allowed students to borrow the deposit amount for any of our programs. This is an experiment that may be extended to other programs and/or lenders in the future. For now, we hope this will improve access to the full-time Web Developer bootcamp. (As of 10/1/23 - Students in the part-time Web Developer bootcamp can also borrow the full tuition amount through Sallie Mae.)
The second new financing addition is that Sallie Mae is allowing full-time Web Developer students to borrow cost of living funds. The maximum amount of a Sallie Mae cost of living loan for the full-time Web Developer program is $7,500.
Both of these new options are available through Sallie Mae effective immediately. To research the details or to apply with Sallie Mae, navigate to our Full-time Web Developer Program page and click on the bootcamp you’re interested in applying for on the NSS website. Loans are, of course, subject to evaluation and approval by Sallie Mae.
We’ve never been huge fans of student borrowing; in fact, that’s one of the reasons we created the Opportunity Tuition plan. However, given what we’ve learned this year from student application patterns, from our interviews with prospective students, and from conversations with active students and graduates, we know that a segment of our traditional students are under unprecedented financial pressures. It further appears that the imminent resumption of loan payments on college student loan debt is the last straw for many.
This year we have seen a shift of more and more applicants to request Opportunity Tuition to help remove some of the financial barriers to acquiring skills for a tech career. Unfortunately, NSS can only finance so many Opportunity Tuition students per cohort. Hence, we are starting to experiment with additional options for tuition financing, starting with these two new options through Sallie Mae.
While these new options create the ability for students to finance more of their expenses for attending the full-time Web Developer program, we encourage all applicants to carefully evaluate their needs and options before deciding on whether to borrow, who to borrow from, and how much to borrow. There can be significant differences between loan providers in terms of cost to you, flexibility in repayment (e.g. check for things like early repayment fees or restrictions, etc.), etc.