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.
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!
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MoneyLion’s consumer and enterprise businesses were recognized as winners of Benzinga’s 2022 Global Fintech Awards at this year’s Fintech Deal Day
New York, December 14, 2022-- MoneyLion Inc. (“MoneyLion”) (NYSE: ML), the go-to destination for personalized financial content, products and advice, is proud to announce that it has been named “Best Financial Literacy Tool” at Benzinga’s 2022 Global Fintech Awards. MoneyLion’s enterprise business, Even Financial, was also named as the winner for “Best API.”
MoneyLion and Even Financial were honored alongside other top Fintechs, banks, research companies and more. MoneyLion’s consumer business continues to push financial literacy through innovative and personalized content. With the MoneyLion app, users can view personalized financial content in short-form video format and receive personalized financial product recommendations such as loans, insurance and investing. As MoneyLion’s enterprise offering, Even Financial digitally connects and matches consumers with real-time personalized product recommendations from banks, insurance carriers, and Fintech companies on mobile apps, websites and other digital touchpoints through its financial product search engine and Embedded Finance Marketplace technology. This technology powers both the MoneyLion Marketplace, in the MoneyLion app, as well as more than 1,000 enterprise partners.
“We’re thrilled MoneyLion’s consumer and enterprise businesses were recognized by Benzinga,” said Dee Choubey, Co-Founder and CEO of MoneyLion. “Both awards showcase MoneyLion’s every time you money approach to helping our customers. The financial literacy gap is a huge problem for millions of Americans and we remain committed to reducing its effects through engaging, informative content and key partnerships designed to bring an elevated educational experience to all.”
These awards follow the October announcement of MoneyLion University, where MoneyLion launched its latest initiative aimed at closing the gap in money and financial education across the United States.
“We could not be more pleased with Benzinga’s recognition of our company’s API technology,” stated Phill Rosen, CEO and Founder of Even Financial. “Our technology natively integrates real-time credit decisions and product recommendations from the industry’s largest network of connected financial services providers, offering access and choice to consumers searching for financial products. Our elegant Embedded Finance Marketplace, API and search engine enable any company to add trusted, personalized financial products and services to their business, reaching people when and where they need it.”
Even Financial has been named a listmaker for the Benzinga Global Fintech Awards for the last two years and was a previous award winner. In 2021, Even was selected as a listmaker for Best API and, in 2020, selected as a listmaker for both Best API and Best API Platform. In 2019, Even was awarded the Benzinga Rocky Award.
The annual Benzinga Global Fintech Awards take pride in recognizing and honoring the companies and individuals who are propelling the Fintech and financial services industry forward with the most impressive technology advancements and innovations. A panel of industry experts from a wide range of companies reviewed and judged the nominations. Winners were announced at Benzinga’s Fintech Deal Day on December 8, 2022, where MoneyLion’s Chief Customer Officer Cynthia Kleinbaum spoke on the panel, Expert Growth Hacks For Reaching Underserved Markets.
About MoneyLion MoneyLion is the go-to destination for personalized financial content, products and advice. MoneyLion’s mission is to rewire the financial system to positively change the path of every hard-working American. MoneyLion uses its proprietary data advantage and technology to empower its customers. MoneyLion engages and educates its customers with daily, hyper-personalized money-related and money-adjacent content that is delivered through each customer’s own content feed. MoneyLion provides its customers a full suite of financial and non-financial solutions, bundling its proprietary, low-cost financial products with products that are offered through its marketplace technology and network affiliate partners. MoneyLion also leverages its distinct data, technology, and network advantages to deliver leading embedded finance and marketplace solutions for enterprise customers. Since its founding in 2013, MoneyLion has empowered millions of Americans to take control of their finances and live their best financial life, every day.
For more information about the company, visit https://www.moneylion.com/ and https://www.evenfinancial.com. For investor information and updates, visit investors.moneylion.com and follow @MoneyLionIR on Twitter.
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New York, Jan. 11, 2023 -- Even Financial ("Even"), an independent subsidiary of MoneyLion Inc. (NYSE: ML), and a leading embedded finance marketplace platform, is proud to announce that it was honored in Built In’s “2023 Best Places To Work” Awards. Specifically, Even earned a place on the Hybrid Best Places to Work in New York.
The Best Places to Work Awards, now in its fifth year, honors companies across numerous categories, sizes, remote-first employers as well as in person and hybrid working companies across the U.S.
Built In determines the winners of Best Places to Work based on an algorithm, using company data about compensation and benefits, and also weighs criteria like remote and flexible work opportunities, as well as other people-first cultural offerings.
This announcement follows Even’s recent win at the Benzinga Global Fintech Awards for “Best API.”
About Even Financial
Even is the industry-leading embedded financial marketplace and independent subsidiary of MoneyLion Inc. (“MoneyLion”) (NYSE: ML). MoneyLion is a leading digital financial services and lifestyle content platform serving both consumer and enterprise customers. 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.