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.
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No Income or Employment Data Used in Underwriting
On-Campus & Online Program Financing
Borrow from $2,000 to your applicable program and campus max for tuition. Please see terms at the bottom of the page.
Students: here's what you need to know.
|ON-CAMPUS BOOTCAMP||WASHINGTON D.C.||$17,500|
|Please note: Scholarships may be applied to financing at any time. Students are responsible for paying their applicable cash deposit directly to Launch Academy in full accordance with the school’s deposit policy.|
Select a repayment amount that works best for you:
*APR - Annual Percentage Rate. The APR shown is a general calculation based upon an example loan amount, 3.0% origination fee, and 18-week program. An actual APR calculation is based upon an individual borrower's specific details, so it may deviate slightly from the general APR example provided above.
|Skills Fund Loan||36 Month Loan||60 Month Loan|
|Cosigners||Note: Up to 1 cosigner might be required in some instances.|
|Origination Fee||3.0% of loan requested (1)|
|Capitalization of Interest||-Interest-only and non-deferred type loans: no interest will be capitalized.
-Deferred type loans: accrued simple interest will be capitalized once at end of deferment period.
|Payments Required While Enrolled?||-Interest-only type loans: monthly interest payments are required.
-Non-deferred type loans: full payments (interest + principal) are required.
-Deferred type loans: no payments are required.
|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)||60 months (5 years)|
This example shows the monthly payments of a $10,000 interest-only Skills Fund loan:
|Example on a $10,000 loan||36 Month Loan||60 Month Loan|
|Annual Percentage Rate||10.06% (4)||11.60% (5)|
|Finance Charge (the dollar amount the credit will cost you)||$2,141 (4)||$3,820 (5)|
|Interest-Only Monthly Payment||$73 (4)||$90 (5)|
|Monthly Payment||$325 (4)||$221 (5)|
This example shows the monthly payments of a $8,000 non-deferred type Skills Fund loan:
|Example on a $8,000 loan||36 Month Loan||60 Month Loan|
|General Annual Percentage Rate||10.52% (3)||11.78% (4)|
|Finance Charge (the dollar amount the credit will cost you)||$1,363 (3)||$2,624 (4)|
|Monthly Payment||$260 (3)||$177 (4)|
Before you begin, please read these important notes:
WHILE IN THE APPLICATION, PLEASE NOTE:
We’ve worked closely with Launch Academy 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.
Please note: Scholarships may be applied to financing at any time. Students are responsible for paying their applicable cash deposit directly to Launch Academy in full accordance with the school’s 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 Launch Academy, 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 payments during the deferment period depend on the type of loan you choose:
Please see terms in "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 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 a confirmation window in the application. If you are credit approved, your loan will then be certified by Launch Academy If you are not credit approved, you may be given the opportunity to amend your application with a cosigner.
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: You are responsible for the full amount you borrow, plus accrued interest and fees. If you are owed a refund by Launch Academy, 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 Launch Academy 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!