ONE CLICK TO START YOUR ENGINEERING IMMERSION

skillsFund_icons_oversight_white.png

Tuition Financing

skillsFund_icons_check.png

Clearly Defined Interest Rates

skillsFund_icons_selectSchool2_white.png

Ease of Application + Credit Review

EMPOWERED DECISIONS

No teaser rates, cosigner trickery, or barriers ahead. Expect clear-cut and upfront loan terms to jump start your transformative journey.

skillsFund_icons_calculate@1x.png

Calculate Your Monthly Payment Now

skillsFund_icons_cosign@1x.png

No Income or Employment Data Used in Underwriting

skillsFund_icons_repayment@1x.png

Only Pay Interest for the First 6 Months

FIVE STEPS TO FUNDING

Icon 1.png

STEP 1

After enrollment, select your rate, payment, and loan type.

Icon 2.png

STEP 2

Take 10 mins to complete the app. Credit decision in mins.

Icon 3.png

STEP 3

We send tuition financing directly to Thinkful.

5ef110309005c590e32e897399cd494b-175c884422c4d5d186d624fbf3709fd4.png

STEP 4

30 days into program, begin interest-only payments.

094325ca79e65eac4e62c7c24adf0d54-9fed738404a351efaf87e9e34c9710ed.png

STEP 5

Create an account at aspireservicingcenter.com. 60 days after completion, make full payments.

FLEXIBLE FINANCING OPTIONS

  • Borrow between $2,000 to $14,000 for tuition.
  • Students make interest-only payments in program and for two months following graduation.
  • Example loan amounts and estimated payments can be found below.

Here's what you need to know:

  • Scholarships may be applied to financing at any time - just let us know!
  • You'll pay the cash deposit directly to Thinkful.
  • Questions? Please email CustomerTrust@Skills.Fund

EXAMPLE ON A $8,750 LOAN

Loan Type Interest-Only Payment Full Payment Full Cost of Loan
Interest-Only $68 $289 $10,825

REPAYMENT CALCULATOR (INTEREST + PRINCIPAL PAYMENTS)

For calculation of your interest + principal payments, which will begin two months after graduation.

Select a repayment amount that works best for you:

Please enter a number between 2,000 and 14,000 without punctuation

For Thinkful students may borrow from $2,000 to $14,000.

36-Month Term
at 8.99% Interest Rate
11.08% General* APR
$ 289.34 /mo

*General APR - General Annual Percentage Rate. APR shown is a general APR on a 16-week program and includes a 4.0% origination fee.

MORE INFO ON TERMS

Skills Fund Loan 36 Month Loan
Cosigners Note: Up to 1 cosigner might be required in some instances.
Origination Fee 4.0% of loan requested (1)
Interest Rate (2) Fixed
8.99%
Capitalization of Interest No interest will be capitalized.
Payments Required While Enrolled? Monthly interest payments are required while in program and for 2 months following graduation (3)
Separation Period (after the in-school period and before interest and principal repayment begins) Two months after official graduation (3)
Note: interest-only type loans require interest-only payments while in school and during the separation period.
Principal and Interest Repayment Term 36 months (3 years)

This example shows the monthly payments of a $10,000 Interest-Only type Skills Fund loan:

Example on a $10,000 loan 36 Month Loan
General Annual Percentage Rate (4) 11.08%
Finance Charge (Total $ Cost of Loan) $2,372
Interest-Only Monthly Payment (4) $78
Monthly Payment $331
  • (1) The 4.0% origination fee is assessed to all loans, and is added to the principal request, so for example, requesting $10,000 will result in a $400 origination fee that will be added to your loan balance and increase the amount you will accrue interest against to $10,400.
  • (2) Interest rates are fixed and never vary.
  • (3) Graduation dates are determined by the school, and full repayment begins 2 months after that date.
  • (4) General Annual Percentage Rate (APR): finance charge and monthly payments are based upon borrowing $10,000, a 4.0% origination fee, paying interest on the loan for 4 months while enrolled in the program and 2 months of grace, then the 36 month principal and interest period.

TAKE 10 MINUTES & APPLY NOW:

Before you begin, please read these important notes:

  • Customer identification policy:
  • For the purpose of the following notice, the words "you" and "your" mean the Borrower and the Cosigner. All applicants: Important Federal Law Notice - Important information about procedures for opening a new account: To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
  • Consent to share data:
  • By clicking the box below and beginning the application, I consent under Federal and state privacy laws to Thinkful providing to Skills Fund information related to my application, enrollment, and completion, including but not limited to information contained in my original application and supplements as well as information regarding my completion, graduation, and post-graduation outcomes information.

BEGIN YOUR LOAN APPLICATION

ATTENTION APPLICANTS: When entering "Applicant Information" within your loan application, please select New York (NY) as "the state of the school you plan to attend."

If you are a cosigner begin the addendum now by clicking here.

While in the application, please note:

  • DO NOT use the browser Back button. Using the browser Back button may cause invalid information and delay the processing of your loan.
  • Your application will not be complete until it has been signed and submitted along with any required documentation.
  • You will need the address and phone number of 3 references to complete your application, including one relative not living with you. Others may be friends, employers, etc.

FREQUENTLY ASKED QUESTIONS

I WANT TO APPLY FOR A LOAN >

DO I QUALIFY FOR A SKILLS FUND LOAN?

We’ve worked closely with Thinkful to provide students - of all backgrounds and walks of life - access to competitive financing. As long as you meet the basic underwriting criteria, such as you are a US citizen / permanent resident with no bankruptcies or history of default on a public or private loan, you'll most likely qualify for a Skills Fund loan.

HOW MUCH CAN I BORROW AND FOR WHAT SPECIFIC USES?

For Thinkful's Engineering Immersion, you can finance your full tuition.

Please note: Students are responsible for paying Thinkful's deposit directly to the school in accordance with their deposit policy.

I AM APPLYING FOR A SCHOLARSHIP. SHOULD I WAIT TO APPLY FOR FINANCING?

You may apply for financing in parallel to applying for your scholarship. If you are awarded your scholarship prior to the disbursement of your tuition financing to Thinkful, please email CustomerTrust@Skills.Fund with the amount of your scholarship, and your tuition will be downward adjusted.

Should you receive your scholarship following the second Wednesday after program start, you can apply your funds to your loan balance at any time without pre-payment penalty.

Please note: Should you want to apply for a scholarship, it is recommended to apply for max tuition financing, and once your scholarship is awarded, Skills Fund can downward adjust your requested tuition financing. This will prevent you having to apply for additional funds, should you not be awarded your scholarship, as loans may not be upward adjusted. Simply email CustomerTrust@Skills.Fund with your approved scholarship amount.

WHAT IS THE DEFERMENT PERIOD?

The deferment period is defined as the time you are attending the course, plus an additional two months after completion. These additional two months are considered your repayment grace period.

Interest only payments are required during the deferment period. After the deferment period ends, payments of principal and interest are required.

HOW MUCH ARE INTEREST PAYMENTS DURING THE DEFERMENT PERIOD?

For a 36-month $10,000 loan, the interest only monthly payment is approximately $78. Please see terms in the "More Info on Terms" above.

DO I NEED A COSIGNER?

If you do not meet the loan underwriting criteria, a cosigner will be needed. You can (1) apply individually, and should you not be approved, you can reapply with a cosigner, or (2) initiate your loan process with a cosigner.

Please note: we advise you to apply individually to begin, and should you not be credit approved, you may be given the opportunity to amend your application with a cosigner.

WHAT INFORMATION DO I NEED TO PROVIDE SKILLS FUND?

During the loan application process, we will ask you for the following information:

  • Full name
  • Address
  • Email and other contact information
  • Social Security Number
  • Date of Birth
  • Loan amount requested
  • Three personal references
  • Cosigner information (if applicable)

WHEN CAN I APPLY FOR A LOAN?

Apply for the loan after your acceptance into a program. Your program cohort must begin within 90 days of the date that you apply for a loan.

WILL YOU CHECK MY CREDIT?

Yes, we will check your credit, including your credit score.

WILL I GET CHARGED ANY FEES FOR TAKING OUT THIS LOAN?

You will be charged an origination fee of 4.0%. This amount will be added to the amount of tuition you borrow, and included in the total loan principal amount you finance. This fee helps cover the administrative fees associated with originating the loan and charged by our partner bank. Please see terms in "More Info on Terms" above.

Please note: this fee is already reflected in the general APR outlined above and in the loan calculator. Interested in learning more about your interest rate vs. APR? Check out our blog post here.

I'VE APPLIED FOR A LOAN >

HOW DO I KNOW IF I’VE BEEN APPROVED FOR A LOAN?

Shortly after completing your loan application, you will receive provisional credit approval details via a confirmation window in the application. If you are credit approved, your loan will then be certified by Thinkful. If you are not credit approved, you may be given the opportunity to amend your application with a cosigner.

WHAT HAPPENS TO MY LOAN IF I DROP OUT FROM MY PROGRAM?

You are responsible for the full amount you borrow, plus accrued interest and fees. If you are owed a refund by Thinkful, the refund transaction will be made to Skills Fund in the amount of the refund due (but in no event greater than what that we paid to Thinkful on your behalf). If there is a balance on your loan after any applied refund, you will be required to immediately start making monthly payments for the balance.

I'M READY TO REPAY MY LOAN >

HOW AND WHEN WILL I REPAY MY LOAN?

You will start paying interest on your loan roughly one month after your loan is disbursed to Thinkful. Disbursement occurs on the second Wednesday after program start.

Two months post-graduation, you will start making full monthly payments (interest plus principal). This 60-day grace period helps you to keep your eye on finding the perfect job post-graduation.

Upon loan acceptance, we will provide you with several options for making payments, including automated payments. You may create an account at www.AspireServicingCenter.com at any time to manage payments and account balance.

CAN I PAY MY LOAN FASTER THAN THE INITIAL TERM?

Yes, you can pre-pay your loan at any time without penalty.

ABOUT SKILLS FUND >

WHO IS SKILLS FUND?

Skills Fund's mission is simple: we transform student lives and careers by accelerating the growth of and access to high-quality skills education. With a team of leaders in student lending, higher education and consumer protection, Skills Fund pulls upon extensive expertise to create a financing platform that is transparent, fast, and offers students financial flexibility. Skills Fund believes bootcamps, lenders, and industry should share in ensuring student success - and that’s what we’re working daily to make happen.

WHO IS SOUTHEAST BANK AND HOW IS IT RELATED TO SKILLS FUND?

Southeast Bank is a Tennessee-chartered bank, and is the lender for all Skills Fund loans.

WHO IS ASPIRE RESOURCES INC. AND HOW IS IT RELATED TO SKILLS FUND?

Aspire Resources is a wholly owned subsidiary of Skills Fund's non-profit partner, Iowa Student Loan. Aspire Resources provides billing and customer service on behalf of Skills Fund, thus your payment notices and other loan communications will arrive with Aspire's logo on them (it's not junk mail!).

HOW DO I ASK MORE QUESTIONS NOT COVERED IN THIS FAQS SECTION?

We are more than happy to answer any additional question you might have. Just fill out the form below and we will be in touch soon!

CONTACT US

SKILLS FUND

  • Customer Service:
  • (855) 757 - 6081
  • M - F, 9am - 5:30pm EST
  • CustomerTrust@Skills.Fund

© Copyright 2015-2018 Skills Fund, LLC