Full-time students can borrow between $2,000 and $13,000 ($10,500 tuition - $1,000 deposit + $3,500 supplemental 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 see terms at the bottom of the page.
Please note: Supplemental cost of living can 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%||10.00%||$73||$325|
|$10,000 (Interest-Only Type)||60||10.49%||11.58%||$90||$221|
Part-time students can borrow between $2,000 and $9,500 ($10,500 tuition - $1,000 deposit). Make full repayments one month after program start. 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 not available for part-time programs.
|Loan Amount (Examples)||Term (Months)||Interest Rate||General APR*||Monthly Payments|
*General APR = Annual Percentage Rate. General APR shown on a 20-week program. The APR that is charged for borrowing includes a 3.0% origination fee.
Apply after your acceptance to a CodeCraft full-time or part-time program.
Ease of application: Less than ten minutes to complete your online loan application. Receive provisional credit approval within minutes.
Skills Fund disburses your tuition and cost of living financing directly to CodeCraft once you start your program.
Full-Time: Make interest-only payments while in program and for two months following graduation. Part-Time: Make full repayments one month after program start.
We’ve worked with CodeCraft to provide as many of their students as possible have 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.
You may borrow up to $13,000 to pay for CodeCraft's full-time programs ($10,500 tuition - $1,000 deposit + $3,500 supplemental cost of living). For CodeCraft's part-time programs, you may borrow up to $9,500 ($10,500 tuition - $1,000 deposit).
Please note: Supplemental cost of living can only be added to max tuition financing for full-time programs (not available for part-time).
For Full-Time Programs:
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.
For Part-Time Programs:
Full payments (principal + interest) start one month after your cohort start date. A deferment is not applicable to part-time programs.
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:
Your lump sum cost of living will be sent directly to CodeCraft 14-21 days after your program start date.
Yes, we will check your credit, including your credit score.
You can downward adjust your requested loan amount at anytime. Simply contact Customer Service (855-757-6081) or let your Admissions Team member know. Should you want to increase your loan amount, you'll need to re-apply for the difference.
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 CodeCraft program. You can also access the application 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 CodeCraft. If you are not credit approved, you may amend your application with a cosigner.
We're sorry to hear you will not move forward on your transformative CodeCraft education. Please contact Customer Service (855-757-6081) to cancel your loan.
Yes, you can pre-pay your loan at any time without penalty.
As these programs offer two different loan types, we highly recommend you are 100% certain of which program will best meet your professional goals and schedule - prior to securing financing. If you opt to change program formats (i.e.: full-time versus part-time), you will need to cancel your existing loan and reapply for the appropriate loan type for your new program.
You are responsible for the full amount you borrow, plus accrued interest and fees. If you are owed a refund by CodeCraft, 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 CodeCraft 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.
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||None, since interest payments are mandatory 30 days after the loan is disbursed|
|Payments Required While Enrolled?||-Interest-only type loans: monthly interest payments are required.
-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 Skills Fund loan:
|Example on a $10,000 loan||36 Month Loan||60 Month Loan|
|General Annual Percentage Rate||10.00% (4)||11.58% (5)|
|Finance Charge (the dollar amount the credit will cost you)||$1,995 (4)||$3,640 (5)|
|Interest-Only Monthly Payment||$73 (4)||$90 (5)|
|Monthly Payment||$325 (4)||$221 (5)|
This example shows the monthly payments of a $9,500 non-deferred Skills Fund loan:
|Example on a $9,500 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)||$1,618 (3)||$3,116 (4)|
|Interest-Only Monthly Payment||Not applicable (3)||Not applicable (4)|
|Monthly Payment||$309 (3)||$210 (4)|