After you've made your decision to attend a training program and learn a new skill, you're well on your way to a new career. The only checkbox left unmarked is the part where you figure out how to pay the cost of tuition. Programs with a Skills Fund partnership have made it as easy as possible for students to pay the cost of their tuition through a loan with low monthly payments. We've outlined exactly what you need before moving forward and applying for a Skills Fund loan.
What Do I Need to Apply for a Skills Fund Loan?
What Do I Need to Apply for a Skills Fund Loan?
FIRST, FIND YOUR PROGRAM
Before you apply for a Skills Fund loan, you'll need to apply to and be accepted into a bootcamp.
While you're selecting a bootcamp, keep in mind the length of the program and whether you'd like to learn online or in-person. Need help on your interview? We've got you covered.
Your program start date must be within 90 days of when you apply for a Skills Fund loan.
HERE'S WHAT WE'LL NEED:
SCHOOL INFORMATION
- State of school
- Name of school
- Name of program
- Program start date
YOUR 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)
- US Citizenship / permanent resident
- Current employment information (not used in credit decision)
- Current income (not used in credit decision)
LOAN INFORMATION
- Type of loan requesting
- Length of loan requesting (36 month or 60 month)
WHEN WILL I GET A DECISION?
After you input your email address into the loan application, you'll receive a link to begin the application.
The application takes just a few minutes to complete. Usually, you'll receive an approval or denial decision quickly. If you're denied, you may be given the opportunity to amend your application with a cosigner.
DO YOU HAVE ANY APPLICATION TIPS?
- Tip #1:
- To give online permission for Skills Fund to review your credit, check the credit authorization box when you start the application. We review your credit history when you apply, and checking this box can help speed up the process.
- Tip #2:
- To quickly finish your loan application online, select "E-Sign" at the end of the application. If you choose an option other than E-Sign, you'll need to sign and send back a physical document to finish your application.
WHY DOES A SKILLS FUND PARTNERSHIP MATTER?
It's all about the ROE. Skills Fund only works with programs whose outcomes are in a student's favor. Before we partner with any program, we ask them real questions and look into their student outcomes, curriculum, and instructors. If they're not providing an education that a student benefits from, we won't partner with them. Simple as that.
Originally published June 30, 2017. Updated on March 29, 2019.