Skills Fund Financing FAQs

Skills Fund Borrower Information Center

DO YOU WORK WITH MY SCHOOL?

We're continuously adding new partners to the Skills Fund family. You'll find our most up-to-date list of partner programs here under "browse all schools".

For information on a specific program or track offered by a bootcamp, visit your specific school's partner website.

DO I QUALIFY?

We’ve worked closely with our partner programs 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 nor history of default on a public or private loan - you'll most likely qualify for a Skills Fund loan.

International Students: At this time we are only able to issue loans to U.S. citizens and permanent residents.

WHAT ARE YOUR INTEREST RATES?

We worked with partner schools to ensure as many of their students have access to competitive financing. Please see your specific program's website for further details.

HOW DO I APPLY FOR A SKILLS FUND LOAN?

After you've been accepted into a Skills Fund partner program, apply for a Skills Fund Loan on the specific partner website. The URL usually mimics "https://yourschoolurl.skills.fund." For example, Galvanize students will visit https://galvanize.skills.fund.

Within the partner website, you'll find all the information you need about the amount you can borrow, loan terms, payment schedule, acceptance notification, and specific program eligibility.

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
  • Three personal references
  • Cosigner information (if applicable)

I NEED TUITION & COST OF LIVING. HOW DO I SELECT THE AMOUNT I WANT FOR EACH?

Within the loan application, you will find two fields for financing: one for tuition and one for cost of living. Within each field, you are able to input the precise amount you would like to borrow. Students are required to take at least $2,000 in tuition financing in order to receive any cost of living financing.

Should you want to apply for a scholarship through your school, it is recommended to apply for max tuition financing, and once your scholarship is awarded, please email CustomerTrust@Skills.Fund with your scholarship amount. Skills Fund will then downward adjust your requested tuition financing. This will prevent you from having to apply for additional funds, should you not be awarded your scholarship, as loans may not be upward adjusted.

CAN I APPLY FOR COST OF LIVING ONLY?

Students must apply for at least $2,000 in tuition financing in order to add cost of living financing.

WHAT IS THE STATUS OF MY APPLICATION?

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 your school. If you are not credit approved, you may be given the opportunity to amend your application with a cosigner.

To find out the specific status of your application, contact our Customer Trust team at CustomerTrust@Skills.Fund.

CAN I PAY MY LOAN FASTER THAN THE INITIAL TERM?

Yes, you can pre-pay your loan at any time without penalty.

WILL YOU CHECK MY CREDIT?

Yes, we will check your credit, including your credit score.

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.

DO I NEED A COSIGNER?

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.

HOW/WHEN WILL MY LOAN DISBURSE?

Funds (tuition + living stipend) disburse the second Wednesday following your program start date. On this day, the tuition portion will be sent directly to the school and the living stipend sent either by ACH transfer or check (whichever you indicated within your application.)

SCHOLARSHIP INFORMATION

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 your school, 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.

WHAT HAPPENS TO MY LOAN IF I DROP OUT FROM MY PROGRAM?

Regarding your tuition: You are responsible for the full amount you borrow, plus accrued interest and fees. If you are owed a refund by [PARTNER SCHOOL], 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 [PARTNER SCHOOL] 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: 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.

I WANT TO CANCEL MY LOAN

Please email CustomerTrust@Skills.Fund to request a loan cancellation.

I SENT IN MAILED DOCUMENTS. DID YOU RECEIVE THEM?

To find out the status of your mailed documents, please reach out to our Customer Service department at 855-757-6081 or email CustomerTrust@Skill.Fund.

WHO IS SKILLS FUND?

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.

WHO IS SOUTHEAST BANK AND HOW IS IT RELATED TO SKILLS FUND?

Southeast Bank is a Tennessee-chartered bank, and is the lender for all Skills Fund loans.

WHO IS ASPIRE RESOURCES INC. AND HOW IS IT RELATED TO SKILLS FUND?

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.

HOW DO I MAKE PAYMENTS ON MY SKILLS FUND LOAN?

To set up payments on your Skills Fund loan, visit www.studentloan.org or call 1-800-243-7552. There you'll find information on AutoPay, one-time payments, and payment by mail.

The timing of your payments depends on your loan type.

  • For Interest-Only loans, you will start making payments two months after your program ends.
  • For Immediate Repayment/Non Deferred loans, you will start making payments thirty days into program start.
  • For Deferred loans, you will start making payments two months after your program ends.

You'll find more information about repayment amounts and scheduling on your specific school's partner website, as outlined above.

More Info: How Do I Pay Back My Skills Fund Loan

MY QUESTION ISN'T ANSWERED. HOW DO I GET IN TOUCH?

For any additional questions, our Customer Trust team is here to help. Please email CustomerTrust@Skills.Fund or submit the form below.