Calculate your monthly payments before starting your loan application
San Francisco & New York students may borrow between $2,000 and $14,000. All deposits are self-funded. Example loan amounts and estimated payments 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|
*General APR = Annual Percentage Rate. The general APR that is charged for borrowing includes a 3.0% origination fee.
Get accepted to Metis' Data Science Program.
Ease of application: Less than ten minutes to complete your loan application online. Receive credit approval within minutes.
Skills Fund disburses your tuition financing directly to Metis once you start your program.
Full repayment grace period: Your loan payments will start two months after you graduate.
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.
You may borrow between $2,000 and $14,000 to pay for your tuition. You cannot use the funding for housing or other incidental costs.
Loans are disbursed within a few days after you start attending the on-site portion of your program.
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 payments during the deferment period depend on the type of loan you choose:
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.
During the loan application process, we will ask you for the following information:
Yes, we will check your credit, including your credit score.
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.
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.
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.
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.
Yes, you can prepay your loan at any time without penalty.
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.
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.
Southeast Bank is a Tennessee-chartered bank, and is the lender for all Skills Fund loans.
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!
|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)|
|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)||$1,534 (4)||$2,868 (5)|
|Interest-Only Monthly Payment||$51 (4)||$69 (5)|
|Monthly Payment||$313 (4)||$209 (5)|
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)||$1,559 (4)||$2,943 (5)|
|Interest-Only Monthly Payment||$0 (4)||$0 (5)|
|Monthly Payment||$321 (4)||$215 (5)|