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Why is Microverse asking about my financial situation?
Why is Microverse asking about my financial situation?
Understand the financial requirements so you can become a Micronaut!
Leticia Rosa avatar
Written by Leticia Rosa
Updated over a week ago

Since you started your Microverse application, you might've noticed that we are always sharing with you the requirements to become a successful student. One of the most important items on this list is that you need to support yourself for at least 12 months. This means that Microverse cannot offer stipends or financial help for basic needs such as your internet data plan, electricity bill, or food and rent during the Program. You need to think about this before entering the Program.

It is in our interest to confirm that you are financially ready to start this journey since we want you to succeed at finishing the Program. Students that are realistic about their finances show a better outcome in the Program due to their ability to remain in job searching for longer than those who poorly planned their financial plans. This means that you won't accept any job just for the sake of paying expenses but rather take the best offer you can find.

Additionally, when students drop out for any reason, this will affect the peer-learning environment Microverse creates. The group of collaborators will become smaller because one of the members is withdrawing from the Program, which is why Microverse is reluctant to accept people with unclear or unstable finances.

What should I know about my financial situation when joining Microverse?

We will ask you to describe how you plan to support yourself at least two times: one during the Interview, and the other when you submit the Financial Plan form during the Student Registration. You can start now to gather as much information as possible by listing everything you might need (equipment, rent, utilities, etc.) and understanding how ready you are to join the Program.

You should be able to explain how you will be paying for these items for at least 12 months – ideally longer. Maybe you are supported by your family or you've been saving money for months to join us. You should also plan for unexpected expenses: what if your laptop breaks? Or if your roommate suddenly moves out? Do you have an emergency fund or source of support so these unexpected situations won't affect your studies? These are all things to consider if you want to successfully join and finish the Microverse Program, and we can’t enroll you until your plan is clear to us.

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