We’ve worked closely with The Software Guild 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.
Please note: Cost of living can only be added to max tuition financing for bootcamp programs.
Your living stipend will be mailed to you roughly 14 days after your program start. The check will be sent via standard US mail to the mailing address provided on your loan application.
Please note: Supplemental cost of living can only be added to max tuition financing for .NET and Java programs. Cost of living cannot be financed apart from tuition.
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.
The interest only payments depend on how much you borrow; the less you borrow, the less you will pay.
For a 36-month $10,000 loan, the interest only monthly payment is approximately $73. For a 60-month $10,000 loan, the interest only monthly payment is approximately $90.
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 3.0%. 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 The Software Guild. If you are not credit approved, you may be given the opportunity to amend your application with a cosigner.
You will start paying interest on your loan roughly one month after your The Software Guild program start date.
You will start making full monthly payments (interest plus principal) after your two-month post-graduation repayment grace period ends. This 60-day grace period helps you to keep your eye on finding the right job following program completion.
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.
Regarding your tuition financing: You are responsible for the full amount you borrow, plus accrued interest and fees. If you are owed a refund by The Software Guild 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 The Software Guild 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.
Regarding your cost of living financing: You are responsible for returning these funds to Skills Fund. 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 Inc. is a wholly owned, for-profit subsidiary of Skills Fund's non-profit partner, Iowa Student Loan. Aspire Resources Inc. provides post-disbursement customer service on behalf of Skills Fund, and Aspire's logo will be seen within communications specific to your Skills Fund loan.
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!