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  Skills Fund Student Loans for Bootcamps

Skills Fund Student Loans for Bootcamps

in Private Student Loans from Skills Fund

Unaffiliated

Skills Fund Student Loans for Bootcamps

Unaffiliated

in Private Student Loans from Skills Fund

SuperMoney Net Recommendation Score -40

SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of -40, equating to 2.2 on a 5 point rating scale.

-40

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.

Mostly not recommended

3 users recommend
0 users are unsure
7 users don't recommend
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Highlights
Community Rating Mostly not recommended
Loan Amount N/A
Fixed APR 8.75% - 12.51%
Variable APR N/A
Number of Reviews 10

Skills Fund Student Loans for Bootcamps Review

Skills Fund Student Loans for Bootcamps is offered by Skills Fund, a marketplace lending platform founded in 2015 and based in Austin, TX. Skills Fund Student Loans for Bootcamps is available in 50 states (and Washington, DC).

Skills Fund Student Loans for Bootcamps FAQ

What rates does Skills Fund Student Loans for Bootcamps offer for in-school private student loan?

It offers a fixed APR that ranges from 8.75% up to 12.51%.

Many students have little or no credit history when they start college. By having a parent or other creditworthy individual cosign the loan, the student may improve their chance of approval or qualify for lower interest rates.

How much can you borrow from Skills Fund Student Loans for Bootcamps?

Available loan amounts may vary by applicant

Does Skills Fund Student Loans for Bootcamps charge an origination fee?

Yes, Skills Fund Student Loans for Bootcamps charges a loan origination fee.

Does Skills Fund Student Loans for Bootcamps charge prepayment fees?

Yes, Skills Fund Student Loans for Bootcamps charges additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment fees can reduce or even cancel the interest savings of repaying a loan early.

What terms does Skills Fund Student Loans for Bootcamps offer?

Skills Fund Student Loans for Bootcamps provides repayment terms ranging from 3 to 5 years.

What type of borrowers will Skills Fund Student Loans for Bootcamps consider?

Skills Fund Student Loans for Bootcamps considers loans applications from:

  • undergraduate students
  • graduate students

What do you need to qualify for Skills Fund Student Loans for Bootcamps?

Applicants with a credit score of at least 600 and up to 850 may be eligible for Skills Fund Student Loans for Bootcamps.

Skills Fund Student Loans for Bootcamps does not have or does not disclose a minimum annual income eligibility requirement.

U.S. citizens are, of course, eligible for the services offered by Skills Fund Student Loans for Bootcamps. Permanent resident / green card holders are also eligible to apply.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Skills Fund

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. 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.

Message From Our Editor

What we love about Skills Fund

Skills Fund offers financing to people who want to take classes to learn skills that make them more employable without attending a traditional college or university. This includes financing for things like coding boot camps, user experience and user interface design classes, and data science courses.

The company works directly with education providers across the country to offer this financing. The exact eligibility requirements differ from school to school but most people with fair credit and no defaults in their credit report can qualify. Your income and employment don’t affect eligibility, making it easier to get funding if you’re unemployed and taking classes to help yourself find a new job.

Skills Fund also tries to make its costs and interest rates as clear as possible so that borrowers aren’t hit with unexpected costs.

What could Skills Fund do better?

Skills Fund only offers financing for education in three tracks: Coding, UX/User interface design, and data science. If you want to fund education in another field, like a trade, then Skills Fund won’t be able to help you.

Though they vary from school to school, interest rates also tend to be high. If you have strong credit, you’ll likely be able to find better rates on other loans.

Skills Fund’s backstory

Skills Fund was founded by a group of student loan, consumer protection, and higher education industry leaders to offer financing to people who want to attend bootcamps in technology fields. To date, the company has helped more than 10,000 students afford classes.

The Verdict

If your credit score isn’t ideal and you need help paying for a bootcamp, Skills Fund may be able to help you afford classes. If you have strong credit, the company’s loans will likely be more expensive than other sources of funding, such as personal loans.

Contact

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

About Skills Fund Student Loans for Bootcamps

Availability

  Available in 50 states and Washington, D.C.
  • 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

No Interest Grace Period for Late Payment 2 days
Cosigner Optional
Credit Score Range 600 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Loan Term 3 - 5 years
Up to Cost of Attendance
Fixed APR 8.75% - 12.51%

Skills Fund Student Loans for Bootcamps Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of -40, equating to 2.2 on a 5 point rating scale.

-40

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.

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