SuperMoney
Skills Fund

Skills Fund

in Private Student Loans

Unaffiliated

Skills Fund

Unaffiliated

in Private Student Loans

SuperMoney Net Recommendation Score -100% Recommendation score measures the loyalty between a provider and a consumer. It's at +100% if everybody recommends the provider and at -100% when no one recommends.

Strongly not recommended

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Overview

Skills Fund is a provider of student loans and other financing tools to bootcamps and their students. As you may know, bootcamps are fast-track vocational schools for graduates who want to prepare themselves for specialized in-demand jobs. 

The company, which is based in Austin, Texas, was founded by Rick O'Donnell, who served as cabinet secretary for all of Colorado's public colleges and universities.

How Do Skills Fund Loans Work?

Unlike other online lenders that offer all types of commercial and business loans, Skills Fund only provides student loans for accelerated learning programs and does so by marketing its platform to the institutions that run the bootcamps. It's not just a lender though. Skill Fund doubles up as a quality assurance platform that makes education programs and students accountable for the success of the loans and the courses.

This means that Skills Fund has independently checked and confirmed to quality of the bootcamps and their efficiency at help student find lucrative jobs. 

Skills Fund markets its loan platform to bootcamps that can then provide it to their students as a financing option. 

The loans have transparent fees, no hidden or sneaky fees to worry about, and can be used for living and tuition expenses.

What Are Skills Fund Rates And Terms?

Because Skills Fund works through bootcamps, rates vary depending on the choices made by the institution and, of course, on the credit and financial history of the borrowers. In general, the fixed rate for this type of private student loan can range from 8.75% APR to 12.51% APR. 

How Are Skills Fund Loans Better Than Others?

  • Skills Fund only finances accelerated programs that provide a good likelihood of return on the investments.
  • It offers financing for both tuition and living expenses
  • Provides institutions a lot of freedom when determining which students they want to enroll.  
  • Skills Fund carries out independent audits on the quality of programs and the likelihood they will help a student find a good job.
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Contact

  • Headquarters
  • 600 Congress Avenue
    Ste. 1400
    Austin, TX 78701 USA

Availability

Available in 50 States and Washington, DC
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Grace Period / Deferred Interest (Months)
2
Cosigner Optional
Credit Score Range
600 - 850
850 300 600
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Loan Term (Years)
3 - 5
1 30
Fixed APR
8.75% - 12.51%
0% 20%
Up to Cost of Attendance

Reviews

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