Pay Your Loan
Making monthly, on-time payments on a loan is one of the best ways to maintain - and build - your credit health.
How Do I Pay Off My Loan?
You have several options, including automated payments! After you are approved for a loan, we’ll help you set up your repayment account.
Aspire and Launch are the loan servicers for Skills Fund’s loans. This means Aspire or Launch will collect your monthly payments during the repayment phase of your loan. All loans applied for before June 9th, 2019 will be serviced by Aspire. All loans applied for on or after June 10th, 2019 will be serviced by Launch.
If you applied for your loan before 06/09/2019, visit Aspire online or at 1-800-243-7552.
If you applied for your loan on or after 06/10/2019, visit Launch online or at 877-354-2629.
What Are My Repayment Options?
Depending on your school and program, you’ll have the choice between several repayment plans and two loan terms. Your repayment plan and term will determine how and when you’ll repay your loan and how many payments you’ll make. With any Skills Fund loan, you also have the flexibility to make early payments or fully pay off your loan balance without any prepayment fees.
- Interest-only Repayment loans allow you to make interest-only payments while you’re in school and for three months after. Then you’ll start making full payments (interest + principal).
- Immediate Repayment loans allow you to quickly get started on repayment. You’ll start making full payments about one month after your program starts.
- Deferred Repayment loans allow you to make no payments while you’re in school and for three months after. Then you’ll start making full payments (interest + principal).
Deferred Tuition Loans or Outcomes Loans (only available for programs at Thinkful, Springboard, or Kenzie Academy) allow you to make no payments for up to a year after you complete your program, or when you receive a qualifying job offer as determined by the Thinkful Tuition Refund Guarantee, Springboard Job Guarantee, or Kenzie Guarantee. Then you'll start making full payments (interest + principal). Additional terms apply.
- 36-month loan: Make 36 monthly payments (Note: a benefit of the 36 month loan is that you'll pay it off faster.)
- 60-month loan: Make 60 monthly payments (Note: a benefit of the 60 month loan is that you'll make lower monthly payments.)