Your Future Game Plan: Is a Skills Fund Student Loan Right for You?

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Your Future Game Plan: Is a Skills Fund Student Loan Right for You?

First things first: congratulations! You've taken the first step in applying for an alternative form of higher education, and you're well on your way to transforming your skills, your income, and your future. So let's get down to business: you need to pay for your tuition. Is a Skills Fund loan the right option for you?

BEFORE APPLYING FOR A LOAN, ASK YOUR SCHOOL ABOUT THE FOLLOWING:

SCHOLARSHIPS

Many schools offer scholarships for students, including specialized scholarships for women, minority groups, and veterans. For coding bootcamp scholarships, visit Course Report for a comprehensive list.

GI BILL BENEFITS

If you're an active or retired member of the military, your program may be able to accept funding through the GI Bill.

NOW, MOVE ON TO FINANCING.

You're on the way to a new future - financing should be the least of your worries. Thankfully there are options available to help you quickly and easily pay for your tuition and cost of living.

While student loans have a bad rap - and in some cases, justifiably so - Skills Fund is astronomically different than a traditional student loan. With clear-cut and fixed rates, no prepayment penalties, and the option to calculate your monthly payment amount before applying, Skills Fund makes everything student-first. No barriers, no confusion, no bait-and switch.

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THE BENEFITS OF TAKING OUT A LOAN

Each and every opportunity that you have to borrow money is also an opportunity to repair, grow, and enhance your credit score. When you make on-time monthly payments, you demonstrate to future lenders that you are responsible when you are loaned money, and your credit score may increase. Having a high credit score allows you to spend less on mortgages, car payments, and other utilities in your future.

There's a difference between good debt and bad debt - and Skills Fund recognizes that. It's the driving force behind why we don't finance students to attend crappy programs. Student loan debt is a nationwide problem because lenders are allowing students to borrow money to pay for programs that aren't providing them with a return on their education.

FURTHER READING

Originally published on 07/27/2018, updated on 4/4/2019.