[citation needed] In contrast to formal university education, private offerings for training appear expensive.
[citation needed] On August 16, 2016, the US Department of Education announced up to $17 million in loans or grants for students to study with nontraditional training providers, including coding bootcamps.
[13] These grants or loans will be administered through the pilot program, EQUIP which stands for Educational Quality through Innovation Partnerships.
[14] Programs must partner with an accredited college and third-party quality assurance entity (QAE) in order to receive federal financial aid.
[16] Barriers to entry and exit mean established schools face less competition than in a free market, which can lead to deterioration of quality, and increase in prices.