Clearly Defined Interest Rates
Ease of Application + Credit Review
No teaser rates, cosigner trickery, nor barriers ahead. Expect clear-cut and upfront loan terms to jump start your transformative journey.
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No Income nor Employment Data Used in Underwriting
Day Class and Night Class Tuition Financing
Only finance what you need: $2,000 to $11,500
Day Class Students: make interest-only payments while in program and for two months following graduation. Example loan amounts and estimated payments can be found below.
Night Class Students: start making full payments (interest + principal) one month after your program starts. Example loan amounts and estimated payments can be found below.
Select a repayment amount that works best for you:
For Origin Code Academy, students may borrow from $2,000 to $11,500
*APR = Annual Percentage Rate. APR shown is a general APR. The APR shown includes a 3.0% origination fee.
|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||None, since interest payments are mandatory 30 days after loan is disbursed|
|Payments Required While Enrolled?||-Interest-Only Type Loans: Yes, monthly interest payments only
-Non-Deferred Type Loans: full payments (interest + principal) 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 for an eligible Origin Code Academy day class:
|Example on a $10,000 loan||36 Month Loan||60 Month Loan|
|Annual Percentage Rate||10.12% (4)||11.63% (5)|
|Finance Charge (the dollar amount the credit will cost you)||$2,068 (4)||$3,730 (5)|
|Interest-Only Monthly Payment||$73 (4)||$90 (5)|
|Monthly Payment||$325 (4)||$221 (5)|
This example shows the monthly payments of a $10,000 non-deferred type Skills Fund loan for an eligible Origin Code Academy night class:
|Example on a $10,000 loan||36 Month Loan||60 Month Loan|
|General Annual Percentage Rate||10.52% (3)||11.78% (4)|
|Finance Charge (the dollar amount the credit will cost you)||$1,704 (3)||$3,280 (4)|
|Monthly Payment||$325 (3)||$221 (4)|
Before you begin, please read these important notes:
While in the application, please note:
We’ve worked closely with Origin Code Academy to provide students - of all backgrounds and walks of life - access to competitive financing. As long as you meet the basic underwriting criteria, such as you are a US citizen / permanent resident, with no recent bankruptcies nor history of default on a public or private loan, you'll most likely qualify for a Skills Fund loan.
For Origin Code Academy, you are eligible to borrow between $2,000 and $11,500 ($12,500 tuition - $1,000 deposit). You may use your loan proceeds for Origins Code Academy's tuition - the deposit is not eligible for financing.
For Day Classes ONLY: The deferment period is defined as the time you are attending the course, plus an additional two months after completion. Interest only payments are required during this period. After the deferment period ends, payments of principal and interest are required.
For Day Classes ONLY: Interest-only payment amounts depend on the amount borrowed and the term of the loan. For a $10,000, 60-month loan, for example, these payments equal $90/mo. Please see "More Info On Terms" above.
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 be given the opportunity to 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. This fee helps cover the administrative fees associated with originating the loan and charged by our partner bank. Please see terms in "More Info on Terms" above.
Please note: this fee is already reflected in the general APR outlined above and in the loan calculator.
Interested in learning more about your interest rate vs. APR? Check out our blog post here.
Shortly after completing your loan application, you will receive provisional credit approval details via a confirmation window in the application. If you are credit approved, your loan will then be certified by Origin Code Academy. If you are not credit approved, you may be given the opportunity to amend your application with a cosigner.
Day Class Students: you will start paying interest on your loan roughly one month after your Origin Code Academy program start date.Two months post-graduation, you will start making full monthly payments (interest plus principal). This 60-day grace period helps you to keep your eye on finding the perfect job post-graduation.
Night Class students: you will start making full payments (interest + principal) one month after your Origin Code Academy program start date.
Upon loan acceptance, we will provide you with several options for making payments, including automated payments. You may create an account at www.studentloan.org at any time to manage payments and account balance.
Yes, you can pre-pay your loan at any time without penalty.
Regarding your tuition: You are responsible for the full amount you borrow, plus accrued interest and fees. If you are owed a refund by Origin Code 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 Origin Code 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.
Southeast Bank is a Tennessee-chartered bank, and is the lender for all Skills Fund loans.
Aspire Resources is a wholly owned subsidiary of Skills Fund's non-profit partner, Iowa Student Loan. Aspire Resources provides billing and customer service on behalf of Skills Fund, thus your payment notices and other loan communications will arrive with Aspire's logo on them (it's not junk mail!).
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!