SKILLS FUND IS NO LONGER PARTNERED WITH CLAIM ACADEMY

Learn how to make payments on your loan - Create an account at AspireServicingCenter.com.

FREQUENTLY ASKED QUESTIONS

HOW AND WHEN WILL I REPAY MY LOAN?

Upon loan acceptance, we will provide you with several options for making payments, including automated payments. You may create an account at AspireServicingCenter.com at any time to manage payments and account balance.

  • Interest-Only Loans: You will start paying interest on your loan roughly one month after your loan is disbursed to the school. Disbursement occurs on the second Wednesday after program start. You will make interest-only payments while in program and for 60 days following program completion. You will start making full monthly payments (interest plus principal) after your two-month grace period ends. This 60-day payment grace period helps you to keep your eye on finding the right job following program completion.
  • Immediate Repayment Loans: You will start making full monthly payments (interest plus principal) roughly one month after your loan is disbursed to your school. Disbursement occurs on the second Wednesday after program start.

There is no prepayment penalty with a Skills Fund loan.

WHAT IS THE DEFERMENT PERIOD?

For full-time programs, the deferment period is defined as the time you are attending the course, plus an additional two months after completion. These additional two months are considered your repayment grace period. Interest only payments are required during the deferment period. After the deferment period ends, payments of principal and interest are required.

There is no deferment period for part-time programs.

HAVE YOU EVER STOPPED WORKING WITH A SCHOOL?

Yes, several of them. While we’re mindful of the fact that Skills Fund isn't a government regulator or an accreditor, we commit to doing our absolute best to ensure we're only partnering with schools that deliver a tangible Return On Education. (That’s our way of saying you get your money’s worth and can start a better future.)

Despite our diligent efforts, sometimes we're just not a fit - culturally or operationally. Other times, we have concerns that a school will not be able to deliver on the promises they’ve made to students.

For this reason, our quality assurance efforts are continuous and never ending. We’re always checking up on our partners. We believe every student deserves their maximum Return On Education, and we're committed to making it happen for students from across the country.

CAN I PAY OFF MY LOAN FASTER THAN THE INITIAL TERM?

Yes, you can pre-pay your loan at any time without penalty.

HOW CAN I CANCEL MY LOAN?

Please email CustomerTrust@Skills.Fund to request a loan cancellation.

WHO IS ASPIRE RESOURCES AND HOW IS IT RELATED TO SKILLS FUND?

Aspire Resources Inc. is a wholly owned, for-profit subsidiary of Skills Fund's non-profit partner, Iowa Student Loan.

Aspire Resources Inc. provides customer service on behalf of Skills Fund, and Aspire's logo will be seen within communications specific to your Skills Fund loan.

I HAVE MORE QUESTIONS, WHO CAN I ASK?

Our Customer Trust team is here to help. You can contact us at any time at CustomerTrust@Skills.Fund or fill out the brief form at the bottom of this page.

For other general questions about Skills Fund financing, please visit our Resource Center.

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