Tuition + Living Expense Financing
Clearly Defined Interest Rates
Ease of Application + Credit Review
No teaser rates, cosigner trickery, or barriers ahead. Expect clear-cut and upfront loan terms to jump start your transformative journey.
Calculate Your Monthly Payment Now
No Income or Employment Data Used in Underwriting
Only Pay Interest In Program + 2 Months After Graduation
Only finance what you need: $7,400 to $9,900
Make interest-only payments in program and for two months following graduation. Example loan amounts and estimated payments can be found below.
Please note: Cost of living may only be added to max tuition financing.
Select a repayment amount that works best for you:
For Epicodus, students may borrow from $7,400 to $9,900
*APR = Annual Percentage Rate. APR shown is a general APR on a 26-week program. The APR shown includes a 4.0% origination fee.
|Skills Fund Loan||36 Month Loan||60 Month Loan|
|Cosigners||Note: Up to 1 cosigner might be required in some instances.|
|Origination Fee||4.0% of loan requested (1)|
|Capitalization of Interest||None, since interest payment are mandatory 30 days after loan is disbursed|
|Payments Required While Enrolled?||Yes, monthly interest payments only|
|Repayment Grace Period (after the in-school period and before interest and principal repayment begins)||60 days after official graduation (3)
Note: interest-only payments required while enrolled
|Principal and Interest Repayment Term||36 months (3 years)||60 months (5 years)|
This example shows the monthly payments of a $8,000 Interest-Only Skills Fund loan for an eligible Epicodus program:
|Example on a $8,000 loan||36 Month Loan||60 Month Loan|
|Annual Percentage Rate||10.94% (4)||12.41% (5)|
|Finance Charge (the dollar amount the credit will cost you)||$2,022 (4)||$3,461 (5)|
|Interest-Only Monthly Payment||$62 (4)||$76 (5)|
|Monthly Payment||$265 (4)||$181 (5)|
Before you begin, please read these important notes:
While in the application, please note:
We’ve worked closely with Epicodus 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.
Epicodus students are eligible to borrow between $7,400 and $9,900 to pay for tuition and cost of living during the program. The enrollment fee is not eligible for financing. Students may only borrow the cost of living with max tuition financing.
Your living stipend will be mailed to you roughly 14 days after your program start. The check will be sent via standard US mail to the mailing address provided on your loan application.
Please note: Supplemental cost of living can only be added to max tuition financing. Anything above your tuition (less $100 enrollment fee) will be considered cost of living and disbursed directly to you. Cost of living cannot be financed separately from tuition.
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 payments are required during the deferment period. After the deferment period ends, payments of principal and interest are required.
For a 36-month $8,000 loan, the interest only monthly payment is approximately $62. For a 60-month $7,000 loan, the interest only monthly payment is approximately $76.
Note that even though the 60-month loan has higher interest payments during the deferment phase, it has lower monthly payments during the 60 months full repayment phase than the 36-month loan. Please see terms in "More Info On Terms" above.
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.
During the loan application process, we will ask you for the following information:
Apply for the loan after your acceptance into a program. Your program cohort must begin within 90 days of the date that you apply for a loan.
Yes, we will check your credit, including your credit score.
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 a confirmation window in the application. If you are credit approved, your loan will then be certified by Epicodus If you are not credit approved, you may be given the opportunity to amend your application with a cosigner.
You will start paying interest on your loan roughly one month after your Epicodus program start date.
Two months post-graduation, you will start making full monthly payments (interest plus principal). This 60-day grace period helps you to keep your eye on finding the perfect job post-graduation.
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 Epicodus, 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 Epicodus 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: 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!