Introducing interest-free course loans — a fairer, more flexible means towards funding your tuition

Manchester Codes
Aug 7 · 3 min read

We talk to many prospective applicants at Manchester Codes, and we understand that the biggest barrier many face when exploring different options is how they can cover the cost of tuition.

For those looking to attend University, student loans are usually the main port of call. These typically amount to tens of thousands of pounds, accrue interest from day 1, and — for many — will stay with them for 30 years before they are written off.

Those that go down the coding bootcamp/training route will most likely take out a financing agreement that offers the opportunity to spread the tuition cost over n years — typically at a higher interest rate than had they purchased the course with a personal loan or credit card.

At Manchester Codes, we’ve been looking at a way in which we can provide a financing model to students that makes the course more accessible, whilst remaining transparent and fair. We are therefore happy to announce that — with immediate effect — students will now be able to apply for a 12 month interest-free loan to cover the cost of the course.

How will it work?

Applicants will be required to pay a £300 deposit upfront to confirm their place on the course, but will be able to split the remaining £3,000 over 12 months (£250 a month).

When do I make the payments?

To confirm your place on the course, you will need to make payment of £300 upon enrolment. Your monthly instalments will commence monthly in advance from the course start date. E.g. If you start on our September 10th 2019 cohort, you would pay £300 now to confirm your place, and monthly deductions would then commence from September 10th for 12 months.

How are payments deducted?

Payments are deducted monthly via Direct Debit. You will need a bank account in order to make repayments.

Is there a credit check?

Yes — We need to ensure that you are able to afford the payments. There is therefore a credit check, as well as an affordability questionnaire that we ask you to complete. If you do fail the credit check, but pass the affordability questionnaire, then we may still consider your application but may ask for additional evidence that you can afford the course repayments.

Does this cost more than if I paid the full amount upfront?

No — There are no hidden fees, and no interest is charged on the loan.

If I don’t finish the course, am I still obligated to pay?

Yes — you are committing to pay back the full amount of the loan.

Can I repay over a shorter period?

Yes — you can pay back anywhere between 6 to 12 months.

Can I make extra or increased payments?

Yes — there is no penalty for paying off your loan earlier.

How do I apply for the interest-free loan?

Upon enrolling for the course and paying the £300 deposit, you will be asked if you want to pay the remaining balance upfront, or through the interest-free loan.

Do I get my deposit back if I’m not approved for the loan?

Yes — We will refund your deposit in full within 7 days of the decision not to approve a loan.

If you have any questions about our interest-free loan, or just about the course in general, then please do get in touch.

Manchester Codes

Written by

Manchester’s Part-Time Coding School. Find us at

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