We’ve worked closely with Dev Bootcamp 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.
The maximum amount you can borrow will depend on your city of attendance. You can finance your tuition (minus deposit).
Campuses: New York & San Francisco
Loan threshold: $2,000 - $20,450
Campuses: Austin, Chicago, San Diego, & Seattle
Loan threshold: $2,000 - $19,200
*Please note San Diego's deposit amount
Your lump sum living stipend will be sent to you on the second Wednesday after Phase 0 program start. Beginning June 1st, all students applying for a Skills Fund loan can elect to have their cost of living disbursed via ACH wire transfer or mailed directly to the address provided in their loan application.
Please allow 1 - 5 business days for your ACH wire transfer to be reflected in your bank account. For all students who elect to have funds mailed to their address, please allow 5 - 10 business days for your check to arrive via U.S. Standard Mail.
Please note: Cost of living may not be financed apart from tuition financing.
You may apply for financing in parallel to applying for your scholarship. If you are awarded your scholarship prior to the disbursement of your tuition financing to Dev Bootcmap, please email CustomerTrust@Skills.Fund with the amount of your scholarship, and your tuition will be downward adjusted.
Should you receive your scholarship following the second Wednesday after program start, you can apply your funds to your loan balance at any time without pre-payment penalty.
Please note: Should you want to apply for a scholarship, it is recommended to apply for max tuition financing, and once your scholarship is awarded, Skills Fund can downward adjust your requested tuition financing. This will prevent you having to apply for additional funds, should you not be awarded your scholarship, as loans may not be upward adjusted. Simply email CustomerTrust@Skills.Fund with your approved scholarship amount.
The deferment period is defined as the time you are attending the course, plus an additional two months after completion. These additional two months are considered your repayment grace period.
Interest-only or deferred payments are required during the deferment period. After the deferment period ends, payments of principal and interest are required.
For a 36-month $10,000 loan, the interest-only monthly payment is approximately $74. For a 60-month $10,000 loan, the interest-only monthly payment is approximately $91.
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.
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 email and a confirmation window in the application. If you are credit approved, your loan will then be certified by Dev Bootcamp. If you are not credit approved, you may be given the opportunity to amend your application with a cosigner.
For interest-only loans: You will begin making interest-only payments one month into program and continue through two months following graduation.
For deferred-type loans: You will fully defer payment until two months after graduation.
For both loan types, you will start making full monthly payments (interest plus principal) after your two-month post-graduation repayment grace period ends. This 60-day grace period helps you to keep your eye on finding the right job following program completion.
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 Dev Bootcamp, 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 Dev Bootcamp 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 financing: 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!