Clearly Defined Interest Rates
Ease of Application + Credit Review
No teaser rates, cosigner trickery, nor barriers ahead. Expect clear-cut and upfront loan terms to jump start your transformative journey.
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No Income nor Employment Data Used in Underwriting
Interest + Principal Payments Start 3 Months Into Program
Only finance what you need: borrow from $2,000 to $8,750* for tuition. Your $250 deposit is not eligible for financing.
*Based upon 6 months to complete the Flexible Web Development & Data Science program.
Select a repayment amount that works best for you:
For the Flexible Web Development & Data Science programs, students may borrow from $2,000 to $8,750
APR = Annual Percentage Rate. APR shown is a general APR 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?||Full monthly payments (interest + principal) are required.|
|Separation Period (after the in-school period and before interest and principal repayment begins)||Payments are due about a month after loan disbursement.|
|Principal and Interest Repayment Term||36 months (3 years)|
This example shows the monthly payments of a $7,000 non-deferred type Skills Fund loan:
|Example on a $7,000 loan||36 Month Loan|
|Annual Percentage Rate (4)||11.69%|
|Finance Charge (Total $ Cost of Loan)||$1,333|
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 recent bankruptcies nor history of default on a public or private loan, you'll most likely qualify for a Skills Fund loan.
For Thinkful's Flexible Web Development and Data Science Bootcamps, students are able to finance between $2,000 and $8,750*. The deposit must be paid directly by the student ($250). Financing can only be used for Thinkful's tuition.
*Based upon a 6-month completion timeline
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:
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 email and 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 will start making full monthly payments (interest plus principal) during your third month in program.
Upon loan acceptance, we will provide you with several options for making payments, including automated payments. You may create an account at www.studentloan.org at any time to manage payments and account balance.
Yes, you can pre-pay your loan at any time without penalty.
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.
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 the form below and we will be in touch soon!