Transparency is the new authenticity. And rightfully so. In direct response to a traditional higher ed system that lacks attention to student skills training and post-graduation outcomes, the bootcamp model has expanded rapidly with more than 36,000 graduates since 2012 (according to Course Report’s 2016 Market Sizing Report).
The industry agrees that it’s time to seize and secure a common path forward to provide increased transparency and outcomes reporting. The debate is well underway, and a number of bootcamp leaders have publicly weighed into the conversation.
Jon Stowe, President of Dev Bootcamp, offered a cautionary tale, while Darrell Silver, co-founder and CEO of Thinkful, outlined industry avoidance of for-profit pitfalls, and Turing School of Software & Design released its Student Outcomes Report (which in full disclosure Skills Fund third-party audited).
Transparency is the new authenticity; the industry has agreed that it’s time to seize and secure a common path forward. There isn’t an easy solution, the debate is well underway, and Skills Fund is deeply engaged in ensuring that students always come first.
Surprisingly, the most significant element that can prevent up to 90% of students from moving forward on their high-quality education is missing from the transparency debate - financing.
Transparency Extends to Educational Financing
Skills Fund was born from two guys entrenched in traditional higher ed realizing the system is broken and fails to serve students, employers, and the nation at large. Investing in human potential is the bedrock of what we do. If you ask each Skills Fund team member why they get out of bed each morning, I’d bet you’ll get an answer anchored on our mission to transform as many student lives and careers as possible with access to the best bootcamp education.
Just as students deserve transparency in bootcamp outcomes, we believe they deserve transparency from bootcamp student financing firms. Unfortunately, not every student lender puts transparency first.
Today, we plant the flag in clear-cut truth in student financing. For each student, this means:
We tell you every school we work with – front and center. If every school a lender works with is quality, why hide who they are?
No Lead-Gen Incentives:
This is all we do: we finance students to attend the best bootcamps out there. Our business isn’t built on trying to sell them mortgages or auto loans.
No Teaser Rates or Deceptive Hooks:
Your interest rate is clear-cut from the start – before you apply. No hooks with a low interest rate virtually no one qualifies for and then switch-and-bait to ridiculously high rates.
No Hidden Fees or APRs:
Your actual cost of borrowing money isn’t withheld until the end of your loan application process. You know all fees - and how that drives your Annual Percentage Rate (APR) - as they are clearly indicated on our partnership websites and collateral.
No Cosigner Trickery:
If you’re empowered to transform your own future, shouldn’t you be empowered to apply for the best possible rate on your own?
Connect the dots and use our loan calculator to understand your monthly repayments before you start your loan application.
Built to Last:
We disclose our capital sources. In fact, it’s listed on our website under the “Team” page.
Under our informal mantra, “we don’t finance students to attend crappy programs,” we also won’t offer students crappy financing terms. This is a revolution of higher education after all, right?
To learn more about financing your bootcamp education with Skills Fund, visit http://skills.fund