Secure Tuition & Tool Allowance Financing in Minutes
Learn Your Rate & Payment Amount Now
No Income or Past Employment Used in Credit Decision
Below you'll find your honest & upfront rate, even if you opt to add a cosigner.
Now, let's calculate your monthly repayment (interest + principal):
ADTC graduates may borrow up to $7,500 for tuition & $2,500 for tools
*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.
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:
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.
|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)||
8.99% interest rate, 11.69% estimated APR
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)|
Before you begin, please read these important notes:
While in the application, please note:
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.
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.
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.
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.
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.
Apply for the loan after you graduate from ADTC and receive an employment offer from a company.
During the loan application process, we will ask you for the following information:
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.