Finance Your Tuition
Affordable Monthly Payments
Below you'll find your honest & upfront rate, even if you opt to add a cosigner.
Now, let's calculate your monthly payment (interest + principal):
Students may borrow from $2,000 to $6,000
*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.
|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)||
8.99% interest rate, 11.69% estimated APR
10.99% interest rate, 12.71% estimated APR
|Capitalization of Interest||Immediate Repayment Loans: Interest not capitalized unless payments not made.|
|Payments Required While Enrolled?||Immediate Repayment Loans: Yes, full payments (interest + principal) are mandatory roughly one month after loan is disbursed.|
|Grace Period||Immediate Repayment Loans: None, full repayments start roughly one month after loan is disbursed.|
|Principal and Interest Repayment Term||36 months (3 years)||60 months (5 years)|
This example shows the monthly payments of a $6,000 immediate repayment Skills Fund loan:
|Example on a $6,000 loan||36 Month||60 Month|
|Annual Percentage Rate||11.69% (3)||12.71% (4)|
|Finance Charge (the dollar amount the credit will cost you)||$1,142.45 (3)||$2,138.50 (4)|
|Full Monthly (Principal and Interest) Payment||$198.40 (3)||$135.64 (4)|
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:
Worried about your credit health? You may either begin your loan application with a cosigner, 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.
Before you begin, please read these important notes:
While in the application, please note:
For 4Geeks Academy, you may borrow from $2,000 to $6,000 for tuition.
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.
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.
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.
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, please email CustomerTrust@Skills.Fund or notify your Admissions Counselor 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 a 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.
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.
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.
During the loan application process, we will ask you for the following information:
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.