Even Staff

2016-02-10

Coding Bootcamps

As long as there are computers and software, as long as there is the Internet, there will be code. The recent tech boom in the United States has led to the creation of roughly 5 million jobs in computing, according to a 2015 Course Report study, and as the economy continues to improve post-2008 financial crisis, more and more employers are looking for people fluent in coding languages. President Barack Obama himself has gone on the record to stress the importance of learning to code, especially at a young age. And with the 2015 TechHire initiative, the president’s incentivized the tech industry to create accessible pathways to well-paying jobs in the tech field.

 

One facet of TechHire is the focus on “coding bootcamps.” These bootcamps are accelerated courses teaching beginners and developing experts in coding, and average 10 to 12 weeks. Coding bootcamps (or learning accelerators) have quickly become a popular resource for building fluency in coding languages. Course Report, a group that reviews coding bootcamps and other accelerated learning programs, showed immense growth in the number of these training academies since 2013, when there were only 33 organizations with full-time courses. By 2014, there were 43 schools that boasted almost 6,000 graduates, an apparent 175 percent increase from the previous year, Code Report reveals. “Since we put that report together, I can think of 40 programs that have launched,” says the founder of Course Report, Adam Lovallo. “I expect that the growth is going to be really, really strong in the next report. I don’t know if it’s a 180 or 200 percent number, but it wouldn’t shock me if that turns out to be the case.” Most of these programs—App Academy, Dev Bootcamp, General Assembly, and Bloc, for instance—offer coursework in development, focusing on the more common programming languages, such as Ruby on Rails, Javascript, and HTML5. General Assembly, and others, offers more detailed tracks, moving on from development to data science, marketing, and more. Of course, a contributing factor to what bootcamps have gained so much momentum is tied to a relatively scarce job market and the growing tech industry. A major problem facing millennials today, however, is the overwhelming burden of student loans, and a job market that makes it difficult to pay them back quickly. But the relatively short-time investment coding bootcamps require, as well as growing regard from employers for the programs, can be beneficial to individuals trying to navigate their debt while also trying to build a stable, lucrative, and fun career.

 

Coding bootcamps can be an educational supplement or addition to traditional schooling, costing about $3,000 to $21,000 for the intensive programs—although they average about $10,000 according to Course Report. Despite the price being considerably lower than a college tuition it’s still nothing to scoff at. What if you don’t have those funds available immediately? How would one set off on this education path without adding to their already existing debt? Some coding bootcamps offer limited scholarships, but they rarely put a dent in the average tuition rate. What if you’ve exhausted your options? All hope is not lost. To give you a better idea of how to finance one of these coding bootcamps, we’ve compiled a short list of some of the top alternative lenders who can help underbanked prospective students pay for their tech education.

Affirm Students can borrow from for 12-,15-, and 18-month periods, with rates that range from 6% to 20% APR based on credit worthiness. Led by Paypal co-founder Max Levchin, Affirm is partnered with General Assembly, Bloc, and Dev Bootcamp. They offer deferral  for the first six months of study while students can focus on their training and finding work.

 

Earnest The first lending startup to target bootcamps, Earnest also offers one-, tw0-, or three- year financing options for students, local and international, looking to borrow. The rates fall at 5%, 6%, and 7% APR, respectively. Earnest is partnered with DevMountain, General Assembly, Code Fellows, and StartUp Institute, and they offer a three-month deferment period.

 

Pave The New York-based startup, Pave, offers tw0- or three-year fixed-rate, merit-based loans at rates between 7% and 15% depending on the borrower. The alternative lender connects ambitious talent with investors who can invest in their loans. Pave has secured partnerships with General Assembly, RefactorU, and DevBootcamp. The startup offers a three-month deferment period. Upstart Founded by former Google employees, Upstart is a alternative lending service that offers low interest, fixed-rate loans over a three-year period—with rates as low as 4.7% APR. Instead of simply looking at a person’s FICO score, Upstart takes other factors into consideration, such as education, areas of study, and job history. They are partnered with most major coding bootcamps, including General Assembly, DevBootcamp, Launch Academy, Starter League, Code Fellows, Coder Camps, and Metis. If you’re interested in starting your career in the tech industry, coding bootcamps may be the way to go. Everybody’s financial needs vary, but it should add some peace of mind to know that there are plenty of lending startups out there to help give prospective bootcamp students a fair shot. Do your research before applying, and figure out which lender is right for you. With coding bootcamp alumni reporting an average 40% increase in salary, you’ll be paying back those loans in no time!

Read More

Disclaimer: The material provided on this site is not intended to provide legal, investment, or financial advice or to indicate the suitability of any Even Financial product or service to your unique circumstances. For specific advice about your unique circumstances, you may wish to consult a qualified professional. Any information or statistical data sourced by Even Financial through hyperlinks, from third-party websites, are provided for informational purposes only. While Even Financial finds these sources to be accurate, it does not endorse or guarantee any third-party content.

PROVEN SCALE & TRUST

$6B+

credit facilitated via our platform

1,000+

partner network

27M+

consumer inquiries quarterly

Awards

PRESS

Read all about it!
PR Newswire
Nuula adds Term Life Insurance feature, powered by Even Financial
TORONTO, Aug. 4, 2022 -- Nuula, a fintech company focused on providing small businesses the tools and the capital they need to succeed, today announced a new Term Life Insurance feature that provides small business owners and entrepreneurs with coverage options from a network of top carriers, powered by Even Financial ("Even"), a leading embedded finance marketplace platform, and independent subsidiary of MoneyLion Inc. ("MoneyLion") (NYSE: ML). Through the Nuula app, users will now be able to shop, compare and buy Term Life Insurance, with policies up to $5MM in coverage and terms of 10-40 years. The policies in Nuula's new Term Life Insurance feature are generated and serviced by LeapLife, an insurtech platform and licensed life insurance agency, that is owned and operated by Even. "While small business owners and entrepreneurs are investing in their business, they also need to more easily invest in themselves and in the security of their loved ones," said Mark Ruddock, CEO at Nuula. "Adding Term Life Insurance further expands the range of services we are delivering to meet the diverse needs of today's small business owner." "Policyholders want a simpler way to shop around, compare policies and prices, and find a policy that is right for them," said Andrew Naoum, SVP of Sales at Even. "By partnering with Even, Nuula's small businesses are provided with a curated network of carriers rated A- and above by AM Best, world-class customer support and a search feature that matches people with the right policies and lowest available prices when and where they need it." Today's news follows the launch of a new personal loan search feature aimed towards early-stage small businesses, powered by Even. About Nuula Nuula is building the future of small business performance. Launched in 2021, Nuula is a financial services and technology company focused on serving the small to medium-sized business community. Nuula provides real-time data and analytics, allowing businesses to manage their finances, monitor their credit ratings and user reviews, and more. Nuula is an advocate of financial inclusivity and a proud partner to Kiva to create economic and social good. To learn more about Nuula, visit www.nuula.com. About Even Financial and LeapLife Even is the industry-leading embedded financial marketplace and independent subsidiary of MoneyLion Inc. ("MoneyLion") (NYSE: ML). MoneyLion is the go-to destination for personalized financial management, content, offerings and advice. As part of MoneyLion's enterprise offering, Even digitally connects and matches consumers with real-time, personalized financial product recommendations from banks, insurance carriers, and fintech companies on mobile apps, websites, and other digital touchpoints through its marketplace technology. Even's infrastructure leverages machine learning and advanced data science to solve a significant pain point in financial services customer acquisition, seamlessly bridging financial services providers (such as SoFi) and channel partners (such as TransUnion) via its industry-leading API and embedded finance marketplaces. Even enables any company to add financial products to its business, with full compliance and security at scale. Even was named one of "America's Best Startup Employers'' by Forbes for 2022 and was named to the 2021 Deloitte Technology Fast 500, which recognizes the fastest growing tech companies in the world. Learn more at www.evenfinancial.com and investors.moneylion.com. LeapLife is a licensed life insurance agency that utilizes data science, deep underwriting knowledge, and proprietary technology, enabling consumers to apply for instant-decision life insurance policies with real-time quotes, available in all 50 states. LeapLife was acquired by Even Financial (Even) in early 2020. Learn more at www.leaplife.com.
Even
Even Financial Adds Tally's Low-Interest Line of Credit to its Embedded Finance Marketplace
NEW YORK, NY, March 15, 2022 -- Even Financial ("Even"), the category-leading embedded finance marketplace and independently managed subsidiary of MoneyLion, Inc. (NYSE: ML), has announced a new partnership with Tally, a leading financial automation company, to include the company's low-interest credit offerings on its platform. "Tally has built a powerful tech-enabled system to help people solve one of the biggest financial problems today: paying off credit card debt," said Phill Rosen, Founder and CEO of Even. "We're thrilled to welcome Tally's line of credit offerings to Even's unparalleled network of financial services providers." Tally is designed to help its members pay off their debt faster and save them money on interest and late fees. Members can lower their monthly payment with Tally's lower-interest line of credit, if eligible. Typically, at least a 580 FICO score is needed. Tally's system is customized to save people as much money as possible. "Americans today owe nearly $1 trillion in credit card debt. We know from our research that many want to pay down their debt but struggle to get started. That's where Tally comes in," said Jason Huynh, VP of Credit, Analytics & Operations at Tally. "Our system combines financial automation with a low-interest line of credit to give people the help they need to get on track to pay off their credit card debt for good. We're thrilled that our partnership with Even will allow Tally to help even more people." The launch of Tally on the Even platform enables consumers to get matched with Tally's custom, low-interest line of credit accounts of up to $25,000 in just a few minutes. After getting matched, eligible consumers complete the process through the Tally app. There are no out-of-pocket costs. Tally is the latest partner to join the Even marketplace, a growing network of over 400 financial services partners and 500 channel partners covering a breadth of financial services including loans, credit cards, mortgages, savings, and insurance products. Even's marketplace technology enables any company to add financial products to its business, with full compliance and security, at scale. About Even Financial Even digitally connects and matches consumers with real-time, personalized financial product recommendations from banks, insurance carriers, and fintech companies on mobile apps, websites, and other digital touchpoints through its marketplace technology. Even's infrastructure leverages machine learning and advanced data science to solve a significant pain point in financial services customer acquisition, seamlessly bridging financial services providers (such as SoFi) and channel partners (such as TransUnion) via its industry-leading API and embedded finance marketplaces. Even enables any company to add financial products to its business, with full compliance and security at scale. Even was named one of "America's Best Startup Employers'' by Forbes for 2021 and was named to the 2021 Deloitte Technology Fast 500, which recognizes the fastest growing tech companies in the world. Learn more at www.evenfinancial.com. About Tally Tally is a consumer financial tech company pioneering full-service financial automation to help people save money, pay down their debt and reach their goals sooner. Founded in 2015, the company built the first fully automated debt manager to help put billions of dollars back in people's pockets. In 2021, Tally was named to Fast Company's Most Innovative Companies list and to Quartz's Best Companies for Remote Workers. Previously, Tally made Forbes' Next Billion Dollar Startup list, Forbes' Fintech 50 list, and the app won Real Simple's Smart Money award. Learn more at meettally.com. Media Contacts media@evenfinancial.com press@meettally.com
Even
Even Financial’s Embedded Finance Marketplaces Surpass $5 Billion in Credit Facilitated
NEW YORK, NY, April 19, 2022 -- Even Financial (“Even”), the category-leading embedded finance marketplace and independent subsidiary of MoneyLion, Inc. (NYSE: ML), has announced it has now facilitated over $5 billion in consumer credit, as of March 2022. Leveraging machine learning and advanced data science, Even solves a significant pain point in financial services customer acquisition by seamlessly bridging financial service providers and channel partners via its industry-leading API and embedded finance marketplaces. “Surpassing $5 billion in consumer credit facilitated through our marketplace is an enormous achievement for Even as we continue to help build the future of finance technology,” said Phill Rosen, Founder and Chief Executive Officer. “Access to credit has long been a challenge for many hard-working Americans, and we are dedicated to alleviating this issue by providing consumers personalized financial services offers that meet their needs, when they need it most. Reaching the $5 billion milestone reaffirms that our mission is driving significant value for both consumers and our partners." Even has grown its embedded finance marketplace offerings beyond loans to cover a breadth of additional financial services including credit cards, mortgages, savings, and insurance products. Within loans, Even offers the largest network of premium, connected loan providers - across a wide array of products including unsecured personal loans, secured personal loans, line of credit, student loan refinancing, and auto loan refinancing. Leading financial services providers, such as LendingClub and SoFi, partner with Even to reach qualified consumers searching for loans, benefiting from Even’s unparalleled network and native integrations. The company has continued its rapid growth trajectory in 2022, growing its network to include over 400 financial services partners and 500 channel partners. Even's marketplace technology enables any company to add financial products to its business, with full compliance and security at scale. Earlier this year, Even announced the close of its acquisition by MoneyLion, the award-winning digital financial platform, which will continue to advance their combined efforts of providing financial access and advice to hard working Americans. About Even Financial Even digitally connects and matches consumers with real-time, personalized financial product recommendations from banks, insurance carriers, and fintech companies on mobile apps, websites, and other digital touchpoints through its marketplace technology. Even's infrastructure leverages machine learning and advanced data science to solve a significant pain point in financial services customer acquisition, seamlessly bridging financial services providers (such as SoFi) and channel partners (such as TransUnion) via its industry-leading API and embedded finance marketplaces. Even enables any company to add financial products to its business, with full compliance and security at scale. Even was named one of "America's Best Startup Employers'' by Forbes for 2022 and was named to the 2021 Deloitte Technology Fast 500, which recognizes the fastest growing tech companies in the world. Learn more at evenfinancial.com. Media Contact media@evenfinancial.com