YOUR LAST STEP ON THE PATH TO CHANGING YOUR CAREER

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Program-Specific Financing Options

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Affordable Monthly Payments

THE SAME LOW RATE FOR ALL

Click your track below to find your honest & upfront rate, even if you opt to add a cosigner.

SELECT YOUR PAYMENT & LOAN TERMS:

DAYTIME TRACKS

  • Only finance what you need: Borrow from $2,000 to your applicable maximum for tuition and cost of living.
  • Make interest-only payments in program and for two months following graduation.
DAYTIME PROGRAM TUITION COST OF LIVING PROGRAM MAXIMUM
CODE 201 $3,500 $1,500 $5,000
CODE 301 $4,500 $1,500 $6,000
CODE 401 $12,000 $3,750 $15,750
CODE 201 + 301 $8,000 $3,000 $11,000
CODE 301 + 401 $16,500 $5,250 $21,750
CODE 201 + 301 + 401 $18,500 $6,750 $25,250

Now, let's calculate your monthly payment:

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Students may borrow from $ to $

*The Annual Percentage Rate (APR) shown is estimated based on the loan type, origination fee, and approximate program length. The actual APR may be slightly different than the example provided based on loan type and program length. To learn how an Annual Percentage Rate (APR) is calculated, visit our blog.

NIGHTS & WEEKENDS TRACKS

  • Only finance what you need: Borrow from $2,000 to your applicable maximum for tuition
  • Get your loan balance behind you by starting to make full payments (interest + principal) roughly one month after your loan is disbursed
NIGHTS & WEEKENDS PROGRAM TUITION
CODE 201 $3,500
CODE 301 $4,500
CODE 401 $12,000
CODE 201 + 301 $8,000
CODE 301 + 401 $16,500
CODE 201 + 301 + 401 $18,500

Now, let's calculate your monthly payment:

Our loan calculator requires JavaScript.
Please enter a number between and .

Students may borrow from $ to $

*The Annual Percentage Rate (APR) shown is estimated based on the loan type, origination fee, and approximate program length. The actual APR may be slightly different than the example provided based on loan type and program length. To learn how an Annual Percentage Rate (APR) is calculated, visit our blog.

MORE INFO ON TERMS

Skills Fund Loan 36 Month 60 Month
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% interest rate, 11.08-11.69% estimated APR
Fixed
10.99% interest rate, 12.48-12.71% estimated APR
Capitalization of Interest Interest-Only Loans: Interest not capitalized unless payments not made.
Immediate Repayment Loans: Interest not capitalized unless payments not made.
Payments Required While Enrolled? Interest-Only Loans: Monthly interest payments are required.
Immediate Repayment Loans: Yes, full payments (interest + principal) are mandatory roughly one month after loan is disbursed.
Grace Period Two-month period after the in-school period, following official program completion, and before interest and principal repayment begins. (3)
Interest-Only Loans: Interest-only payments are required while in school and in the grace period.
Immediate Repayment Loans: None, full repayments start roughly one month after loan is disbursed.
Post-Grace Period Interest-Only Loans: Full repayments (principal and interest) are required.
Immediate Repayment Loans: Full repayments (principal and interest) are required.
Principal and Interest Repayment Term 36 months (3 years) 60 months (5 years)

This example shows the monthly payments of a $5,000 interest-only Skills Fund loan for the 201 course or 301 course for the Daytime Track:

Example on a $5,000 loan 36 Month 60 Month
Annual Percentage Rate 11.34% (4) 12.58% (5)
Finance Charge (the dollar amount the credit will cost you) $1,068.91 (4) $1,924.95 (5)
Interest-Only Monthly Payment $38.96 (4) $47.62 (5)
Full Monthly (Principal and Interest) Payment $165.33 (4) $113.03 (5)
  • (1) The 4.0% origination fee is assessed to all loans, and is added to the principal request, so for example, requesting $5,000 will result in a $200 origination fee that will be added to your loan balance and increase the amount you will accrue interest against to $5,200.
  • (2) Interest rates are fixed and never vary.
  • (3) Program completion dates are determined by the school, and full repayment begins 2 months after that date.
  • (4) Annual Percentage Rate (APR): Finance charge and monthly payments are estimated based upon borrowing $5,000, a 4.0% origination fee, paying interest on the loan for one month while enrolled in the program and for a two-month grace period, then the 36-month principal and interest period.
  • (5) Annual Percentage Rate (APR): Finance charge and monthly payments are estimated based upon borrowing $5,000, a 4.0% origination fee, paying interest on the loan for one month while enrolled in the program and for a two-month grace period, then the 60-month principal and interest period.

This example shows the monthly payments of a $10,000 interest-only Skills Fund loan for the 201 + 301 bundle or 401 course for the Daytime Track:

Example on a $10,000 loan 36 Month 60 Month
Annual Percentage Rate 11.25% (4) 12.55% (5)
Finance Charge (the dollar amount the credit will cost you) $2,215.73 (4) $3,945.15 (5)
Interest-Only Monthly Payment $77.91 (4) $95.25 (5)
Full Monthly (Principal and Interest) Payment $330.67 (4) $226.07 (5)
  • (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) Program completion dates are determined by the school, and full repayment begins 2 months after that date.
  • (4) Annual Percentage Rate (APR): Finance charge and monthly payments are estimated based upon borrowing $10,000, a 4.0% origination fee, paying interest on the loan for two months while enrolled in the program and for a two-month grace period, then the 36-month principal and interest period.
  • (5) Annual Percentage Rate (APR): Finance charge and monthly payments are estimated based upon borrowing $10,000, a 4.0% origination fee, paying interest on the loan for two months while enrolled in the program and for a two-month grace period, then the 60-month principal and interest period.

This example shows the monthly payments of a $10,000 interest-only Skills Fund loan for the 301 + 401 bundle for the Daytime Track:

Example on a $10,000 loan 36 Month 60 Month
Annual Percentage Rate 11.16% (4) 12.51% (5)
Finance Charge (the dollar amount the credit will cost you) $2,293.64 (4) $4,040.39 (5)
Interest-Only Monthly Payment $77.91 (4) $95.25 (5)
Full Monthly (Principal and Interest) Payment $330.67 (4) $226.07 (5)
  • (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) Program completion dates are determined by the school, and full repayment begins 2 months after that date.
  • (4) Annual Percentage Rate (APR): Finance charge and monthly payments are estimated based upon borrowing $10,000, a 4.0% origination fee, paying interest on the loan for three months while enrolled in the program and for a two-month grace period, then the 36-month principal and interest period.
  • (5) Annual Percentage Rate (APR): Finance charge and monthly payments are estimated based upon borrowing $10,000, a 4.0% origination fee, paying interest on the loan for three months while enrolled in the program and for a two-month grace period, then the 60-month principal and interest period.

This example shows the monthly payments of a $10,000 interest-only Skills Fund loan for the 201 + 301 + 401 bundle for the Daytime Track:

Example on a $10,000 loan 36 Month 60 Month
Annual Percentage Rate 11.08% (4) 12.48% (5)
Finance Charge (the dollar amount the credit will cost you) $2,371.56 (4) $4,135.64 (5)
Interest-Only Monthly Payment $77.91 (4) $95.25 (5)
Full Monthly (Principal and Interest) Payment $330.67 (4) $226.07 (5)
  • (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) Program completion dates are determined by the school, and full repayment begins 2 months after that date.
  • (4) Annual Percentage Rate (APR): Finance charge and monthly payments are estimated based upon borrowing $10,000, a 4.0% origination fee, paying interest on the loan for four months while enrolled in the program and for a two-month grace period, then the 36-month principal and interest period.
  • (5) Annual Percentage Rate (APR): Finance charge and monthly payments are estimated based upon borrowing $10,000, a 4.0% origination fee, paying interest on the loan for four months while enrolled in the program and for a two-month grace period, then the 60-month principal and interest period.

This example shows the monthly payments of a $10,000 immediate repayment Skills Fund loan for the Nights & Weekends Tracks:

Example on a $10,000 loan 36 Month 60 Month
Annual Percentage Rate 11.69% (3) 12.71% (4)
Finance Charge (the dollar amount the credit will cost you) $1,904.08 (3) $3,564.16 (4)
Full Monthly (Principal and Interest) Payment $330.67 (3) $226.07 (4)
  • (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) Annual Percentage Rate (APR): Finance charge and monthly payments are estimated based upon borrowing $10,000, a 4.0% origination fee, and the 36-month principal and interest period.
  • (4) Annual Percentage Rate (APR): Finance charge and monthly payments are estimated based upon borrowing $10,000, a 4.0% origination fee, and the 60-month principal and interest period.

QUALIFYING FOR SKILLS FUND FINANCING

Our underwriting reflects an investment in your future success. Skills Fund does not use current income nor employment history in your credit decision, and you may qualify for a Skills Fund loan if you meet the basic underwriting criteria, including:

  • You are a U.S. citizen or permanent resident (Green Card holder)
  • No bankruptcies or history of default on a public or private loan

Worried about your credit health? You may either add a cosigner to begin your loan application, or following credit denial, you may be given the opportunity to add a cosigner.

All approved students are given the same low rate - with or without a cosigner. And there's no prepayment penalty with a Skills Fund loan.

HOW DOES SKILLS FUND COMPARE?

Skills Fund Code Fellows Financing

Learn more about how Skills Fund puts you - the student - first.

TAKE 10 MINUTES & APPLY

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

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 Code Fellows 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-program outcomes information.

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

HOW MUCH CAN I BORROW AND FOR WHAT SPECIFIC USES?

You may borrow from $2,000 to the financing maximum (depending on course or bundle) for the Daytime Track:

  • 201: $5,000 ($3,500 tuition + $1,500 cost of living)
  • 301: $6,000 ($4,500 tuition + $1,500 cost of living)
  • 401: $15,750 ($12,000 tuition + $3,750 cost of living)
  • 201 + 301 bundle: $11,000 ($8,000 tuition + $3,000 cost of living)
  • 301 + 401 bundle: $21,750 ($16,500 tuition + $5,250 cost of living)
  • 201 + 301 + 401 bundle: $25,250 ($18,500 tuition + $6,750 cost of living)

You may borrow from $2,000 to the tuition maximum for the Nights & Weekends Tracks. Cost of living is not available for the Nights & Weekends Tracks:

  • 201: $3,500 tuition
  • 301: $4,500 tuition
  • 401: $12,000 tuition
  • 201 + 301 bundle: $8,000 tuition
  • 301 + 401 bundle: $16,500 tuition
  • 201 + 301 + 401 bundle: $18,500 tuition

Please note: In order to finance cost of living, borrow at least $2,000 in tuition financing. You will pay your cash deposit directly to Code Fellows.

WHEN WILL I RECEIVE MY LIVING STIPEND?

Only the Daytime Track is eligible for cost of living.

Your lump sum living stipend will be sent to you on the second Wednesday after your program start. You can elect to have your cost of living disbursed via electronic funds transfer or mailed directly to the address provided in their loan application.

Please allow 1 - 5 business days for your electronic funds transfer to be reflected in your bank account. For all students who elect to have funds mailed to their address, please allow 5 - 10 business days for your check to arrive via U.S. Standard Mail.

HOW AND WHEN WILL I REPAY MY LOAN?

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

Interest-Only Loan: You will start paying interest on your loan roughly one month after your loan is disbursed to the school. Disbursement occurs on the second Wednesday after program start. You will make interest-only payments while in program and for 60 days following program completion.

You will start making full monthly payments (interest plus principal) after your two-month grace period ends. This 60-day payment grace period helps you to keep your eye on finding the right job following program completion.

Immediate Repayment Loan: You will start making full monthly payments (interest plus principal) roughly one month after your loan is disbursed to your school. Disbursement occurs on the second Wednesday after program start.

There is no prepayment penalty with a Skills Fund loan.

WHAT IS THE DEFERMENT PERIOD FOR INTEREST-ONLY LOANS?

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

Interest-only payments are required during the deferment period. After the deferment period ends, payments of interest and principal are required. Paying interest on your loan during the deferment period will result in lower interest + principal payments during the full loan repayment phase of 36 or 60 months.

HOW MUCH ARE INTEREST PAYMENTS DURING THE DEFERMENT PERIOD?

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 rate is fixed at 8.99% / 11.08-11.34% estimated APR. The interest-only monthly payment is approximately $77.91.
  • For a 60-month $10,000 loan: The interest rate is fixed at 10.99% / 12.48-12.58% estimated APR. The interest-only monthly payment is approximately $95.25.

Please see terms in "More Info On Terms" above.

Please note: The Annual Percentage Rate (APR) is estimated and may change slightly based on the loan type, origination fee, and approximate program length.To learn how an Annual Percentage Rate (APR) is calculated, visit our blog.

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 is included in the total loan principal amount you finance. This fee helps cover the administrative fees associated with originating the loan and is charged by our partner bank. Please see terms in "More Info on Terms" above.

Please note: This fee is already reflected in the 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 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 financing, please email CustomerTrust@Skills.Fund or notify your Admissions Counselor with the amount of your scholarship, and your requested financing amount 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 a prepayment 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 may prevent you having to apply for additional funds, should you not be awarded your scholarship, as loans may not be upward adjusted.

DO I NEED A COSIGNER?

If you do not meet the loan underwriting criteria, a cosigner may be needed. You can (1) apply individually, and should you not be approved, you may be given the opportunity to amend your application 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.

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.

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
  • U.S. Citizenship/Permanent Resident Status
  • Current Income (not a factor in credit decision)
  • Current Employment Status (not a factor in credit decision)
  • Three personal references
  • Cosigner information (if applicable)

WILL YOU CHECK MY CREDIT?

Yes. When you apply we will check your credit, including your credit score. Interested in learning more about what goes into your credit score? Visit our blog and explore our credit history resources today.

For other general questions about Skills Fund financing, please visit our Resource Center.

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