The application fee is now $120? Man, EC Council will have the total cost of CEH at $1000 before we know it. Unless you need it for your job, save yourself the time and aim for something else.
What is your Job role? Have you actually studied for the CEH? It's not an easy test and has a very difficult curriculum. If it doesn't directly support your job function that's probably why your company wont pay for it.
Personally, I feel the CEH is overrated at best. It's a mile long and an inch thick. If you are going to spend some money I would say go with OSCP, much more respected and you will get way more out of it.
You really have to analyze what the potential ROI is and how the cert firs in your overall career plan. I personally don't see much value in the cert. I'm taking it soon for just two reasons: 1. Required for the WGU MSISA 2. I want to be CEH buddies with colemic That's it!