Clearly Defined Interest Rates
Ease of Application + Credit Review
No teaser rates, cosigner trickery, or barriers ahead. Expect clear-cut and upfront loan terms to jump start your transformative journey.
Calculate Your Monthly Payment Now
No Income or Employment Data Used in Underwriting
Only Pay Interest for the First 6 Months
After enrollment, select your rate, payment, and loan type.
Take 10 mins to complete the app. Credit decision in mins.
We send tuition financing directly to Thinkful.
30 days into program, begin interest-only payments.
Create an account at aspireservicingcenter.com. 60 days after completion, make full payments.
Here's what you need to know:
|Loan Type||Interest-Only Payment||Full Payment||Full Cost of Loan|
For calculation of your interest + principal payments, which will begin two months after graduation.
Select a repayment amount that works best for you:
For Thinkful students may borrow from $2,000 to $14,000.
*General APR - General Annual Percentage Rate. APR shown is a general APR on a 16-week program and includes a 4.0% origination fee.
|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
|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|
Before you begin, please read these important notes:
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:
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.
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.
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.
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.
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.
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.
During the loan application process, we will ask you for the following information:
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.
Yes, we will check your credit, including your credit score.
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.
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.
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.
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.
Yes, you can pre-pay your loan at any time without penalty.
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.
Southeast Bank is a Tennessee-chartered bank, and is the lender for all Skills Fund loans.
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!).
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!