FINANCING DONE DIFFERENTLY for ADTC graduates

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Secure Tuition & Tool Allowance Financing in Mins

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Learn Your Rate & Payment Amount Now

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No Income or Past Employment Required

The same LOW RATE FOR EVERYONE

Here it is - your upfront rate: 8.99% or 10.99% for all (including you), even with a cosigner. Now that you know your rate, let's calculate your monthly payment.

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% Interest Rate
11.69% General APR
$ 248.00 /mo
or
60-Month Term
at 10.99% Interest Rate
12.71% General APR
$ 169.55 /mo

*APR - Annual Percentage Rate. The APR shown is a general calculation based upon an example loan amount, 4.0% origination fee, and 12-week program. An actual APR calculation is based upon an individual borrower's specific details, so it may deviate slightly from the general APR example provided above.

ADTC FOR JUST $1 PER WORK HOUR

LOAN AMOUNT PAYMENT PER WEEK PAYMENT PER DAY
(WEEKDAYS)
PAYMENT PER WORK HOUR
$3,000 $25 $5.00 $0.62
$5,000 $41 $8.02 $1.03
$7,500 $62 $12.40 $1.55
$10,000 $83 $16.60 $2.07
Monthly payments amounts are based off of a 36-month loan with a 8.99% interest rate and 40-hour work week.

HERE'S HOW WE'LL GET YOU APPROVED

We believe in you & your future, so we do not use income or employment history in our credit decision. Here's what will get you approved:

  • U.S. citizen or permanent resident (green card holder)

  • A fair credit score or better
  • No history of loan default or bankruptcy

Don't check the credit history boxes? Either add a cosigner to start or you may qualify for our Access Loan program. Read more on Access Loans here and in our FAQs.

MORE INFO ON TERMS

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)
Interest Rate(2) Fixed
8.99%
Fixed
10.99%
Capitalization of Interest No interest will be capitalized.
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 type Skills Fund loan:

Example on a $7,500 loan 36 Month Loan 60 Month Loan
General Annual Percentage Rate 11.69% (3) 12.71% (4)
Finance Charge (the dollar amount the credit will cost you) $1,428 (3) $2,673 (4)
Monthly Payment $248 (3) $170 (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) General Annual Percentage Rate (APR): finance charge and monthly payments are based upon borrowing $7,500, a 4.0% origination fee, and payments beginning 30 days after your loan is disbursed, through the 36 month loan term.
  • (4) General Annual Percentage Rate (APR): finance charge and monthly payments are based upon borrowing $7,500, a 4.0% origination fee, and payments beginning 30 days after your loan is disbursed, through the 60 month loan term.

TAKE 10 MINUTES & APPLY

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.

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

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

I WANT TO APPLY FOR A LOAN >

DO I QUALIFY FOR A SKILLS FUND LOAN?

This is an investment in you and your future, so we do not use income nor employment history in our credit decisions. As long as you meet the below criteria, you'll most likely be approved for your Skills Fund financing:

  • U.S. citizen or permanent resident (green card holder)
  • A fair credit score or better
  • No history of loan default or bankruptcy

Don't check the credit history boxes? Either add a cosigner to start your loan application or if credit denied, you may be eligible for an Access Loan.

TELL ME ABOUT THE SKILLS FUND & ADTC ACCESS PROGRAM

ADTC & Skills Fund are proud to offer a new take on financing; one in which capable students have no barriers to professional opportunity and success. Students credit denied for a traditional Skills Fund loan may be eligible for the Skills Fund & ADTC Access Program.


How It Works:

Within 24-hours of receiving a credit denial, Skills Fund will email you with details of your Access Loan eligibility. Please note: not all students will be eligible for an Access Loan.

Loan Terms Include:

Same interest rates, fees, and loan duration as a traditional Skills Fund loan, for which you already applied. Tool allowance is not available for Access Loans.

Ease of Access:

You do not need to reapply to qualify for an Access Loan. Simply respond to the Skills Fund email sent within 24 hours of your credit denial or email CustomerTrust@Skills.Fund.

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. Need less than the max for both? Borrow as little as $2,000 in tuition to take advantage of your tool allowance.

I NEED TUITION & A TOOL ALLOWANCE. HOW DO I SELECT THE AMOUNT I WANT FOR EACH?

Within the loan application, you will find two fields for financing: one for tuition and one for your tool allowance. Within each field, you are able to input the exact amount you want to borrow. To borrow a tool allowance, finance at least $2,000 in tuition.

WHAT ARE MY PAYMENTS?

You'll start making full payments roughly 1 month after you secure employment after ADTC. You can calculate your estimated monthly payment using our loan calculator. For a $7,500 36-month loan, the monthly payment is approximately $248. For a $7,500 60-month loan, the monthly payment is approximately $170.

DO I NEED A COSIGNER?

You can (1) apply individually, and should you not be approved, you may be eligible for an Access Loan; or (2) initiate your loan process with a cosigner.

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
  • Three personal references
  • Cosigner information (if applicable)

WHEN CAN I APPLY FOR A LOAN?

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

WILL YOU CHECK MY CREDIT?

Yes, we will check your credit, including your credit score. Note we do not use income or employment data in underwriting.

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 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.

I'VE APPLIED FOR A LOAN >

HOW DO I KNOW IF I’VE BEEN APPROVED FOR A LOAN?

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 ADTC. If you are not credit approved, you may be given the opportunity to amend your application with a cosigner.

WHEN WILL I RECEIVE MY TOOL ALLOWANCE?

Your tool allowance will be sent to you on the second Wednesday after you secure employment. All students applying for a Skills Fund loan can elect to have their 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.

I'M READY TO REPAY MY LOAN >

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 www.studentloan.org at any time to manage payments and account balance.

CAN I PAY MY LOAN FASTER THAN THE INITIAL TERM?

Yes, you can pre-pay your loan at any time without penalty.

ABOUT SKILLS FUND >

WHO IS SKILLS FUND?

Skills Fund's mission is simple: we transform student lives and careers by accelerating the growth of and access to training programs. 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.

WHO IS SOUTHEAST BANK AND HOW IS IT RELATED TO SKILLS FUND?

Southeast Bank is a Tennessee-chartered bank, and is the lender for all Skills Fund loans.

WHO IS ASPIRE RESOURCES INC. AND HOW IS IT RELATED TO SKILLS FUND?

Aspire Resources Inc. is a wholly owned, for-profit subsidiary of Skills Fund's non-profit partner, Iowa Student Loan. Aspire Resources Inc. provides post-disbursement customer service on behalf of Skills Fund, and Aspire's logo will be seen within communications specific to your Skills Fund loan.

HOW DO I ASK MORE QUESTIONS NOT COVERED IN THIS FAQS SECTION?

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!

CONTACT US