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 Metis. If you are not credit approved, you may be given the opportunity to amend your application with a cosigner.
Your lump sum living stipend will be sent to you on the second Wednesday after your program start. Beginning June 1st, all students applying for a Skills Fund loan can elect to have their cost of living disbursed via ACH wire transfer or mailed directly to the address provided in their loan application.
Please allow 1 - 5 business days for your ACH wire 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: Cost of living may not be financed apart from tuition financing.
Regarding your tuition financing: 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.
Regarding your cost of living financing: You are responsible for returning these funds to Skills Fund. 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.