What Do I Need to Apply for a Skills Fund Loan?

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What Do I Need to Apply for a Skills Fund Loan?

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.

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.

The Skills Fund loan application will ask for the following details:

Your School

The name of your school

The name of your program

You

Your first and last name

Your phone number

Your email address

Your citizenship status

Your Social Security Number

Your birth date

Your address

Your Employment

Your current level of education (not used in your loan approval decision)

Your current employment status and income (not used in your loan approval decision)

Your planned employment status during your program (not used in your loan approval decision)

Your Loan

The tuition loan amount you are requesting

The living expenses loan amount you are requesting. Living expense loans are available for certain programs only.

Your cosigner decision. You can choose to apply with or without a cosigner.

Your choice of repayment plan (deferred repayment, interest-only or immediate repayment)

Your choice of loan term (36 or 60 month repayment term)

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.

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WHY DOES A SKILLS FUND PARTNERSHIP MATTER?

It's all about the Return on Education. 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 September 30, 2020.