Tuition + Living Expense Financing
Clearly Defined Interest Rates
Ease of Application + Credit Review
No teaser rates, cosigner trickery, or barriers ahead. Expect clear-cut and upfront loan terms to jump start your transformative journey.
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No Income or Employment Data Used in Underwriting
Pay Only Interest for the First 4 Months
Only finance what you need: borrow from $2,000 to $17,000 for tuition and cost of living ($12,000 tuition - $1,000 deposit + $6,000 cost of living). Make interest-only payments while in program and for two months following graduation. Example loan amounts and estimated payments can be found below.
Please note: Supplemental cost of living may only be added to max tuition financing. TurnToTech's $1,000 deposit is not eligible for financing.
|IMMERSIVE PROGRAM||TUITION (LESS DEPOSIT)||COST OF LIVING|
|Please Note: Students may ONLY add cost of living financing to tuition financing.
Deposit has been removed from max tuition. Deposit is not eligible for financing.
Select a repayment amount that works best for you:
For TurnToTech, students may borrow from $2,000 to $17,000
*APR = Annual Percentage Rate. APR shown is a general APR on a 16-week program. The APR shown includes a 4.0% 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||4.0% of loan requested (1)|
|Interest Rate (2)||Fixed
|Capitalization of Interest||No interest will be capitalized.|
|Payments Required While Enrolled?||Monthly interest 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 $12,000 interest-only Skills Fund loan:
|Example on a $12,000 loan||36 Month Loan||60 Month Loan|
|Annual Percentage Rate||11.08% (4)||12.48% (5)|
|Finance Charge (the dollar amount the credit will cost you)||$2,486 (4)||$4,963 (5)|
|Interest-Only Monthly Payment||$94 (4)||$114 (5)|
|Monthly Payment||$397 (4)||$271 (5)|
Before you begin, please read these important notes:
While in the application, please note:
We’ve worked closely with TurnToTech 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 or history of default on a public or private loan, you'll most likely qualify for a Skills Fund loan.
You are eligible to borrow between $2,000 and $17,000 ($12,000 tuition - $1,000 deposit + $6,000 supplemental cost of living). You may use your loan proceeds towards TurnToTech's tuition and to help pay for living expenses while enrolled in the program. The deposit is not eligible for financing.
Your living stipend will be mailed to you roughly 14 days after your program start. The check will be sent via standard US mail to the mailing address provided on your loan application.
Please note: Supplemental cost of living can only be added to max tuition financing. Anything above your tuition (less $1000 deposit) will be considered cost of living and disbursed directly to you. Cost of living cannot be financed separate from tuition.
The deferment period is defined as the time you are attending the course, plus an additional two months after completion. For your interest-only loan, you are required to make interest payments during the deferment period. This means lower payments during the full loan repayment phase of 36 or 60 months.
Interest-only type loans: Require the payment of interest on a monthly basis during the deferment period. These payments ensure that no interest will be capitalized into your borrowed principal at the beginning of the 36- or 60-month full repayment phase. 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 $95/mo.
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 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. 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 TurnToTech. If you are not credit approved, you may be given the opportunity to amend your application with a cosigner.
You will start paying interest on your loan roughly one month after your TurnToTech 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.
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 TurnToTech, 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 TurnToTech 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.
Regarding your cost of living: You are responsible for returning these funds to Skills Fund. 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!