Borrow between $2,000 and $21,000 (tuition - deposit + cost of living). Make interest-only payments while in program and for 60 days following graduation. Example loan amounts and estimated payments can be found below. Please see terms at the bottom of the page.
Please note: Supplemental cost of living may only be added to max tuition financing.
|Loan Amount (Examples)||Term (Months)||Interest Rate||General APR*||In-School Payments (interest only)||Post-Graduation Payments|
|$10,000 (interest-only type)||36||8.49%||10.11%||$73||$325|
|$10,000 (interest-only type)||60||10.49%||11.62%||$91||$221|
*General APR = Annual Percentage Rate. The general APR that is charged for borrowing includes a 3.0% origination fee.
Get accepted to a Sabio program.
Ease of application: Less than ten minutes to complete your loan application online. Receive pre-approval within minutes.
Skills Fund disburses your tuition and cost of attendance financing directly to Sabio once you start your program.
Full repayment grace period: Your full loan payments will start two months after you graduate.
We’ve worked closely with Sabio to provide as many of their students as possible access to competitive financing. As long as you meet the underwriting criteria, such as no recent bankruptcies or no history of default on a public or private loan, you'll most likely qualify for a Skills Fund loan.
For the Full Stack program, you are eligible to borrow between $2,000 and $21,000 (tuition - deposit + cost of attendance). You may use your loan proceeds for Sabio's tuition and cost of attendance while enrolled in the program.
The deferment period is defined as the time you are attending the course, plus an additional two months after completion. Depending on the loan type you choose, there may be payments during this period.
Interest payments during the deferment period depend on the type of loan you choose:
If you do not meet the loan underwriting criteria, a cosigner will be needed. You can (1) apply individually, and should you not be approved, you can reapply with a cosigner, or (2) initiate your loan process with a cosigner.
Please note: we advise you to apply individually to begin, and should you not be credit approved, you may amend your application with a cosigner.
During the loan application process, we will ask you for the following information:
Yes, we will check your credit, including your credit score.
You will be charged an origination fee of 3.0%. This amount will be added to the amount of tuition you borrow, and included in the total loan principal amount you finance. Please see terms at bottom of page.
You will be sent a link to apply for a Skills Fund loan following your acceptance to a Sabio program. You can also access the application site here. Please note, only accepted students can apply for a Skills Fund loan.
Shortly after completing your loan application, you will receive credit approval details via a pop-up window in the application. If you are credit approved, your loan will then be certified by Sabio. If you are not credit approved, you may amend your application with a cosigner.
Yes, you can pre-pay your loan at any time without penalty.
You are responsible for the full amount you borrow, plus accrued interest and fees. If you are owed a refund by Sabio, the refund transaction will be made to Skills Fund in the amount of the refund due (but in no event greater than what that we paid to Sabio on your behalf). If there is a balance on your loan after any applied refund, you will be required to immediately start making monthly payments for the balance.
Skills Fund's mission is simple: we transform student lives and careers by accelerating the growth of and access to high-quality skills education. With a team of leaders in student lending, higher education and consumer protection, Skills Fund pulls upon extensive expertise to create a financing platform that is transparent, fast, and offers students financial flexibility.
Skills Fund believes bootcamps, lenders, and industry should share in ensuring student success - and that’s what we’re working daily to make happen. Read our Manifesto here.
Southeast Bank is a Tennessee-chartered bank, and is the lender for all Skills Fund loans.
We are more than happy to answer any additional question you might have. Just fill the form below and we will be in touch soon!
|Skills Fund Loan||36 Month Loan||60 Month Loan|
|Cosigners||Note: Up to 1 cosigner might be required in some instances.|
|Origination Fee||3.0% of loan requested (1)|
|Capitalization of Interest||-Interest-only type loans: no interest will be capitalized.
-Deferred-type loans: accrued simple interest will be capitalized once at end of deferment period.
|Payments Required While Enrolled?||-Interest-only type loans: monthly interest payments are required.
-Deferred-type loans: no payments are required.
|Separation Period (after the in-school period and before interest and principal repayment begins)||Two months after official graduation (3)
Note: interest-only type loans require interest-only payments while in school and during the separation period.
|Principal and Interest Repayment Term||36 months (3 years)||60 months (5 years)|
This example shows the monthly payments of a $10,000 interest-only type Skills Fund loan:
|Example on a $10,000 loan||36 Month Loan||60 Month Loan|
|General Annual Percentage Rate||10.11% (4)||11.62% (5)|
|Finance Charge (the dollar amount the credit will cost you)||$2,066 (4)||$3,727 (5)|
|Interest-Only Monthly Payment||$73 (4)||$91 (5)|
|Monthly Payment||$325 (4)||$221 (5)|
This example shows the monthly payments of a $10,000 deferred-type Skills Fund loan:
|Example on a $10,000 loan||36 Month Loan||60 Month Loan|
|General Annual Percentage Rate||10.03% (4)||11.55% (5)|
|Finance Charge (the dollar amount the credit will cost you)||$2,115 (4)||$3,857 (5)|
|Interest-Only Monthly Payment||$0 (4)||$0 (5)|
|Monthly Payment||$337 (4)||$230 (5)|