LOGO.png

+

Metis logo_adjusted.png

A Partnership to Invest in Your Future

  • Finance your Metis tuition
  • One low, fixed interest rate for 3- and 5-year loans
  • No teaser rates nor cosigner trickery
  • No income, employment, nor educational criteria used in underwriting
  • Cosigner options available (only if you need them!)
  • No prepayment penalties // full repayment grace period
  • Calculate your monthly payments before starting your loan application

Choose What Works For You

San Francisco & New York students may borrow between $2,000 and $14,000 ($15,500 tuition - $1,500 deposit). Chicago Students may borrow between $2,000 and $12,500 ($14,000 tuition - $1,500 deposit). Make interest-only payments while in program and for two months following graduation, or choose to defer your payments until two months following graduation. Example loan amounts and estimated payments can be found below. Please see terms at the bottom of the page.

Loan Amount (Examples) Term (Months) Interest Rate General APR* In-School Payments (Interest Only) Post-Graduation Payments
$10,000 (Interest-Only) 36 5.99% 7.58% $51 $313
$10,000 (Deferred) 36 5.99% 7.54% $0 $321
$10,000 (Interest-Only) 60 7.99% 9.09% $69 $209
$10,000 (Deferred) 60 7.99% 9.04% $0 $216

*General APR = Annual Percentage Rate. General APR shown on a 12-week program. The general APR that is charged for borrowing includes a 3.0% origination fee.

How It Works

icons-partner-01.png

Get accepted to Metis' Data Science Program.

icons-partner-02_v2.png

Ease of application: Less than ten minutes to complete your loan application online. Receive provisional credit approval within minutes.

icons-partner-03.png

Skills Fund disburses your tuition financing directly to Metis once you start your program.

icons-partner-04.png

Full repayment grace period: Your loan payments will start two months after you graduate.

Already Accepted to Metis?

Frequently Asked Questions

Do I qualify for a Skills Fund loan? ▾

We’ve worked with Metis to ensure as many of their students as possible have access to competitive financing. As long as you meet the basic underwriting criteria, such as no recent bankruptcies and no history of default on a public or private loan, you'll most likely qualify for a Skills Fund loan.

How much can I borrow and for what specific uses? ▾

San Francisco & New York students may borrow between $2,000 and $14,000 ($15,500 tuition - $1,500 deposit). Chicago Students may borrow between $2,000 and $12,500 ($14,000 tuition - $1,500 deposit).

How long does it take for the loan to be disbursed? ▾

Loans are disbursed within a few days after you start attending the on-site portion of your program.

What is the deferment period? ▾

The deferment period is defined as the time you are attending the course plus an additional 60 days after completion. Depending on the loan type you choose there may be payments during this period.

  • Interest-only type loans: These loans require interest payments during the deferment period. This means lower payments during the full loan repayment phase of 36 or 60 months.
  • Deferred-type loans: These loans have the advantage of requiring zero payments during the deferment period. But, the interest is capitalized at the end of this period, and the monthly payments will be slightly higher than interest-only type loans.

How much are interest payments during the deferment period? ▾

Interest payments during the deferment period depend on the type of loan you choose:

  • Interest-only type loans: They require the payment of interest on a monthly basis during the deferment period. These payments ensure that no interest will be capitalized into your borrowed principal at the beginning of the 36- or 60-month full repayment phase. Interest-only payment amounts depend on the amount borrowed and the term of the loan. For a $10,000 loan 36-month loan, for example, these payments equal $51/mo.
  • Deferred-type loans: These loans require zero ($0) payments during the deferment period. But the simple interest generated every month accrues, and is capitalized into your loan principal at the end of this period. This translates into slightly higher monthly payments vs. interest-only loans. For example, for a $10,000, 60-month loan, a deferred-type loan will pay about $10/mo. more over its life than an interest only loan.

Do I need a cosigner? ▾

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 amend your application 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)

Will you check my credit? ▾

Yes, we will check your credit, including your credit score.

Will I get charged any fees for taking out this loan? ▾

You will be charged an origination fee of 3.0%. This amount will be added to the amount of tuition you borrow, and included in the total loan principal amount you finance. See terms at bottom of page.

How can I apply for a loan? ▾

You will be provided a link to apply for a Skills Fund loan after you've been accepted to Metis. You can also access the application site here. Please note: only accepted students can apply for a Skills Fund loan.

How do I know if I’ve been approved for a loan? ▾

Shortly after completing your loan application, you will receive credit approval details via a pop-up window in the application. If you are credit approved, your loan will then be certified by Metis. If you are not credit approved, you may amend your application with a cosigner.

What does it mean to be credit approved for a loan? ▾

This means you are credit approved for your loan. The next step is for Metis to certify your acceptance to their program and requested loan amount. Upon certification, you will then receive your final loan disclosures and can accept your loan.

How and when will I repay my loan? ▾

  • For interest-only type loans: You will start paying interest on your loans thirty days after we disburse funds to Metis. Sixty days post-graduation, you will start making full monthly payments (interest plus principal). We will provide you with several options for making payments, including automated payments.
  • For deferred-type loans: You will make no payments during your in-school period. Sixty days post-graduation, you will start making full monthly payments (interest plus principal). We will provide you with several options for making payments, including automated payments.

Can I pay my loan faster than the initial term? ▾

Yes, you can prepay your loan at any time without penalty.

What happens to my loan if I drop out from my program? ▾

You are responsible for the full amount you borrow, plus accrued interest and fees. If you are owed a refund by Metis, 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 Metis 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.

Who is Skills Fund? ▾

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. Read our Manifesto here.

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 at the end of this web page and we will be in touch soon!

Interest Rates

Skills Fund Loan 36 Month Loan 60 Month Loan
Cosigners Note: Up to 1 cosigner might be required in some instances.
Origination Fee 3.0% of loan requested (1)
Interest Rate(2) Fixed
5.99%
Fixed
7.99%
Capitalization of Interest -Interest-only type loans: no interest will be capitalized.
-Deferred-type loans: accrued simple interest will be capitalized once at end of deferment period.
Payments Required While Enrolled? -Interest-only type loans: monthly interest payments are required.
-Deferred-type loans: no payments are required.
Separation Period (after the in-school period and before interest and principal repayment begins) Two months after official graduation (3)
Note: interest-only type loans require interest-only payments while in school and during the separation period.
Principal and Interest Repayment Term 36 months (3 years) 60 months (5 years)

This example shows the monthly payments of a $10,000 interest-only type Skills Fund loan:

Example on a $10,000 loan 36 Month Loan 60 Month Loan
Annual Percentage Rate 7.58% (4) 9.09% (5)
Finance Charge (the dollar amount the credit will cost you) $1,536 (4) $2,871 (5)
Interest-Only Monthly Payment $51 (4) $69 (5)
Monthly Payment $313 (4) $209 (5)
  • (1) The 3.0% origination fee is assessed to all loans, and is added to the principal request, so for example, a $10,000 will generate a $300 origination charge that will increase the loaned amount to $10,300.
  • (2) Interest rates are fixed and never vary.
  • (3) Graduation dates are notified by the school, and full repayment begins two months after that date.
  • (4) General Annual Percentage Rate (APR): finance charge and monthly payments are based upon borrowing $10,000, a 3.0% origination fee, paying interest on the loan for 3 months while enrolled in the program and 2 months of grace, then the 36 month principal and interest period.
  • (5) General Annual Percentage Rate (APR): finance charge and monthly payments are based upon borrowing $10,000, a 3.0% origination fee, paying interest on the loan for 3 months while enrolled in the program and 2 months of grace, then the 60 month principal and interest period.

This example shows the monthly payments of a $10,000 deferred-type Skills Fund loan:

Example on a $10,000 loan 36 Month Loan 60 Month Loan
Annual Percentage Rate 7.34% (4) 9.04% (5)
Finance Charge (the dollar amount the credit will cost you) $1,560 (4) $2,945 (5)
Interest-Only Monthly Payment $0 (4) $0 (5)
Monthly Payment $321 (4) $216 (5)
  • (1) The 3.0% origination fee is assessed to all loans, and is added to the principal request, so for example, a $10,000 will generate a $300 origination charge that will increase the loaned amount to $10,300.
  • (2) Interest rates are fixed and never vary.
  • (3) Graduation dates are notified by the school, and full repayment begins two months after that date.
  • (4) General Annual Percentage Rate (APR): finance charge and monthly payments are based upon borrowing $10,000, a 3.0% origination fee, deferring principal and interest for 3 months while enrolled in the program and 2 months of grace, then the 36 month principal and interest period.
  • (5) General Annual Percentage Rate (APR): finance charge and monthly payments are based upon borrowing $10,000, a 3.0% origination fee, deferring principal and interest for 3 months while enrolled in the program and 2 months of grace, then the 60 month principal and interest period.