Students can borrow between $2,000 and $12,750 ($10,000 tuition - $250 deposit + $3,000 supplemental cost of living). Make interest-only payments while in the program and for two months 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 can only be added to maximum amount of tuition financing ($9,750) for a total loan of $12,750. Students must pay the deposit directly to Claim Academy - the deposit is not eligible for financing.
|Loan Amount (Examples)||Term (Months)||Interest Rate||General APR*||In-School Payments (Interest Only)||Post-Graduation Payments|
|$10,000 (Interest-Only Type)||36||8.99%||11.16%||$78||$331|
|$10,000 (Interest-Only Type)||60||10.99%||12.51%||$95||$226|
*General APR = Annual Percentage Rate. General APR shown on a 12-week program. The General APR that is charged for borrowing includes a 4.0% origination fee.
Apply before or after your acceptance to Claim Academy's .NET or Java immersive program.
Ease of application: It takes less than 10 minutes to complete your online loan application. Receive provisional credit approval within minutes.
Skills Fund disburses your tuition financing directly to Claim Academy. Your supplemental cost of living will be sent directly to you two weeks after program start.
Full repayment grace period: Your full loan payments (interest + principal) will start two months after you graduate.
We’ve worked with Claim Academy to provide as many of their students as possible with access to competitive financing. As long as you are a US citizen or permanent resident and meet the underwriting criteria, such as no recent bankruptcies nor history of default on any private or government student loan, you will most likely qualify for a Skills Fund loan.
Students are eligible to borrow between $2,000 and $12,750 ($10,000 tuition - $250 deposit + $3,000 supplemental cost of living). You may use your loan proceeds to pay for Claim Academy's tuition and for living expenses during your program, but the deposit is not eligible for financing.
Please note: Supplemental cost of living can only be added to max tuition financing.
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 4.0%. This amount will be added to the amount of tuition you borrow, and included in the total loan principal amount you finance. This fee helps cover the administrative fees associated with originating the loan and charged by our partner bank. See terms at bottom of page.
Shortly after completing your loan application, you will receive a notification via email providing approval details. Once Claim Academy certifies your participation in their program, and the specific loan amount requested, you will receive a second email confirming your loan is approved.
You will start making interest-only payments one month after your Claim Academy program starts, and begin making full monthly payments (interest + principal) two months after graduation. We will provide you with several options for making payments, including automated payments.
Your lump sum cost of living will be sent directly to the mailing address listed on your loan application 14-21 days after your program start date.
Yes, you can prepay your loan at any time without penalty.
You are responsible for the full amount you borrow. If you are owed a refund by Claim Academy, 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 Claim Academy 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.
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||4.0% of loan requested (1)|
|Capitalization of Interest||None, since interest payments are mandatory 30 days after the loan is disbursed|
|Payments Required While Enrolled?||Yes, monthly interest payments are required while in program and for 2 months following graduation (3).|
|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||11.16% (4)||12.51% (5)|
|Finance Charge (the dollar amount the credit will cost you)||$2,294 (4)||$4,040 (5)|
|Interest-Only Monthly Payment||$78 (4)||$95 (5)|
|Monthly Payment||$331 (4)||$226 (5)|