FINANCING DONE DIFFERENTLY for ADTC graduates

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Secure Tuition & Tool Allowance Financing in Minutes

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Learn Your Rate & Payment Amount Now

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No Income or Past Employment Used in Credit Decision

THE SAME LOW RATE FOR ALL

Below you'll find your honest & upfront rate, even if you opt to add a cosigner.

  • Borrow up to $7,500 for tuition & $2,500 for tools
  • Apply for a loan after you graduate from ADTC and receive an employment offer from a company

  • Get your loan balance behind you by starting to make full payments (interest + principal) roughly one month after your employment starts

Now, let's calculate your monthly repayment (interest + principal):

enter a number between 7,500 and 10,000 without punctuation

ADTC graduates may borrow up to $7,500 for tuition & $2,500 for tools

36-Month Term
at 8.99% Fixed Rate
11.69% APR*
$ 248.00 /mo
or
60-Month Term
at 10.99% Fixed Rate
12.71% APR*
$ 169.55 /mo

*The Annual Percentage Rate (APR) shown is estimated based on the loan type, origination fee, and approximate program length. The actual APR may be slightly different than the example provided based on loan type and program length. To learn how an Annual Percentage Rate (APR) is calculated, visit our blog.

QUALIFYING FOR SKILLS FUND FINANCING

Our underwriting reflects an investment in your future success. Skills Fund does not use current income nor employment history in your credit decision, and you may qualify for a Skills Fund loan if you meet the basic underwriting criteria, including:

  • You are a U.S. citizen or permanent resident (Green Card holder)
  • No bankruptcies or history of default on a public or private loan

Worried about your credit health? You may either begin your loan application with a cosigner, or following credit denial, you may be given the opportunity to add a cosigner.

All approved students are given the same low rate - with or without a cosigner.

MORE INFO ON TERMS

Skills Fund Loan 36 Month 60 Month
Cosigners Note: Up to 1 cosigner might be required in some instances.
Origination Fee 4.0% of loan requested (1)
Interest Rate (2) Fixed
8.99% interest rate, 11.69% estimated APR
Fixed
10.99% interest rate, 12.71% estimated APR
Capitalization of Interest Immediate Repayment Loans: Interest not capitalized unless payments not made.
Grace Period Immediate Repayment Loans: None, full repayments start roughly one month after loan is disbursed.
Principal and Interest Repayment Term 36 months (3 years) 60 months (5 years)

This example shows the monthly payments of a $7,500 immediate repayment Skills Fund loan:

Example on a $7,500 loan 36 Month 60 Month
Annual Percentage Rate 11.69% (3) 12.71% (4)
Finance Charge (the dollar amount the credit will cost you) $1,428.06 (3) $2,673.12 (4)
Full Monthly (Principal and Interest) Payment $248.00 (3) $169.55 (4)
  • (1) The 4.0% origination fee is assessed to all loans, and is added to the principal request, so for example, requesting $7,500 will result in a $300 origination fee that will be added to your loan balance and increase the amount you will accrue interest against to $7,800.
  • (2) Interest rates are fixed and never vary.
  • (3) Annual Percentage Rate (APR): Finance charge and monthly payments are estimated based upon borrowing $7,500, a 4.0% origination fee, and the 36-month principal and interest period.
  • (4) Annual Percentage Rate (APR): Finance charge and monthly payments are estimated based upon borrowing $7,500, a 4.0% origination fee, and the 60-month principal and interest period.

HOW DOES SKILLS FUND COMPARE?

Skills Fund ADTC Financing

Learn more about how Skills Fund puts you - the student - first.

TAKE 10 MINUTES & APPLY

If you are a cosigner, begin the addendum now by clicking here.

Before you begin, please read these important notes:

  • Customer identification policy:
  • For the purpose of the following notice, the words "you" and "your" mean the Borrower and the Cosigner. All applicants: Important Federal Law Notice - Important information about procedures for opening a new account: To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
  • Consent to share data:
  • By clicking the box below and beginning the application, I consent under Federal and state privacy laws to ADTC providing to Skills Fund information related to my application, enrollment, and completion, including but not limited to information contained in my original application and supplements as well as information regarding my completion, graduation, and post-graduation outcomes information.

While in the application, please note:

  • DO NOT use the browser Back button. Using the browser Back button may cause invalid information and delay the processing of your loan.
  • Your application will not be complete until it has been signed and submitted along with any required documentation.
  • You will need the address and phone number of 3 references to complete your application, including one relative not living with you. Others may be friends, employers, etc.

FREQUENTLY ASKED QUESTIONS

HOW MUCH CAN I BORROW AND FOR WHAT SPECIFIC USES?

Borrow up to $7,500 for tuition financing and an additional $2,500 for your tool allowance.

Please note: In order to finance your tools, borrow at least $2,000 in tuition financing.

WHEN WILL I RECEIVE MY TOOL ALLOWANCE?

Your tool allowance will be sent to you on the second Wednesday after you secure employment. You can elect to have your tool allowance disbursed via electronic funds transfer or mailed directly to the address provided in their loan application.

Please allow 1 - 5 business days for your electronic funds 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: Tool allowances may not be financed apart from tuition financing.

HOW AND WHEN WILL I REPAY MY LOAN?

After completing ADTC training, apply for a loan as soon as you've received an offer of employment. On the second Wednesday after you've applied for a loan, tuition is sent directly to ADTC.

You will start making full payments on your loan roughly one month after your employment start.

Upon loan acceptance, we will provide you with several options for making payments, including automated payments. You may create an account at AspireServicingCenter.com at any time to manage payments and account balance.

WILL I GET CHARGED ANY FEES FOR TAKING OUT THIS LOAN?

You will be charged an origination fee of 4.0%. This amount will be added to the amount 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 is charged by our partner bank. Please see terms in "More Info on Terms" above.

Please note: This fee is already reflected in the APR outlined above and in the loan calculator. Interested in learning more about your interest rate vs. APR? Check out our blog post here.

DO I NEED A COSIGNER?

If you do not meet the loan underwriting criteria, a cosigner may be needed. You can (1) apply individually, and should you not be approved, you may be given the opportunity to amend your application 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.

WHEN CAN I APPLY FOR A LOAN?

Apply for the loan after you graduate from ADTC and receive an employment offer from a company.

WHAT INFORMATION DO I NEED TO PROVIDE SKILLS FUND?

During the loan application process, we will ask you for the following information:

  • Full name
  • Address
  • Email and other contact information
  • Social Security Number
  • Date of Birth
  • Loan amount requested
  • U.S. Citizenship/Permanent Resident Status
  • Current Income (not a factor in credit decision)
  • Current Employment Status (not a factor in credit decision)
  • Three personal references
  • Cosigner information (if applicable)

WILL YOU CHECK MY CREDIT?

Yes. When you apply we will check your credit, including your credit score. Interested in learning more about what goes into your credit score? Visit our blog and explore our credit history resources today.

For other general questions about Skills Fund financing, please visit our Resource Center.

CONTACT US