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.
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.
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.