YOUR LAST STEP ON THE PATH TO CHANGING YOUR CAREER
Designer & Web Developer Track Financing Options
Option to Only Pay Interest While Enrolled + 2 Months After Program Completion
HOW IT WORKS
1
Schedule a call with your Student Advisor.
2
Select your rate, payment & loan type.
3
Enroll & accept your final loan disclosures.
4
Choose the right loan type for you.
5
Create an account at studentloan.org to manage payments.
THE SAME LOW RATE FOR ALL
Select your program below to find your honest & upfront rate, even if you opt to add a cosigner.
SELECT YOUR PAYMENT & LOAN TERMS:
DESIGNER TRACK
﹀
- Borrow up to $15,000 for tuition
- Interest-Only Loan: Only pay interest while enrolled and for two months after program completion. You'll being interest-payments roughly one month after your loan is disbursed. Following interest payments, you'll begin interest + principal payments.
- Immediate Repayment Loan: Start interest + principal payments roughly a month after your loan is disbursed.
- Please note: Bloc's Designer Track is self-paced with a recommended pace of 8 months and a cost of $8,500. If you complete your program early, you will receive a prorated refund from Bloc, which will be applied to your loan balance.
Now that you know your rate, let's calculate your full monthly repayment (interest + principal):
Students may borrow $2,000 to $15,000
*The Annual Percentage Rate (APR) calculation is based upon an individual borrower's specific details and pace of completion, so it may deviate slightly from the APR example provided above. To learn how an APR is calculated, visit our blog.
WEB DEVELOPER TRACK
﹀
- Borrow up to $15,000 for tuition
- Interest-Only Loan: Only pay interest while enrolled and for two months after program completion. You'll being interest-payments roughly one month after your loan is disbursed. Following interest payments, you'll begin interest + principal payments.
- Immediate Repayment Loan: Start interest + principal payments roughly a month after your loan is disbursed
- Please note: Bloc's Web Developer Track is self-paced with a recommended pace of 35 weeks and a cost of $8,500. If you complete your program early, you will receive a prorated refund from Bloc, which will be applied to your loan balance.
Students may borrow $2,000 to $15,000
*The Annual Percentage Rate (APR) calculation is based upon an individual borrower's specific details and pace of completion, so it may deviate slightly from the general APR example provided above. To learn how an APR is calculated, visit our blog.
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. | |
| Payments Required While Enrolled? | Interest-Only Type Loans: Monthly interest payments are required. Immediate Repayment Type Loans: Yes, full payments (interest + principal) are mandatory roughly one month after loan is disbursed. |
|
| Separation Period (after the in-school period and before interest and principal repayment begins) | Two months after official graduation (3) Interest-Only Type Loans: Interest-only payments are required while in school and during the separation period. Immediate Repayment Type 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 $8,500 interest-only Skills Fund loan:
| Example on a $8,500 loan | 36 Month Loan | 60 Month Loan |
|---|---|---|
| General Annual Percentage Rate | 10.82% (4) | 12.36% (5) |
| Finance Charge (the dollar amount the credit will cost you) | $2,281 (4) | $3,839 (5) |
| Interest-Only Monthly Payment | $66 (4) | $81 (5) |
| Monthly Payment | $281 (4) | $192 (5) |
- (1) The 4.0% origination fee is assessed to all loans, and is added to the principal request, so for example, requesting $8,500 will result in a $340 origination fee that will be added to your loan balance and increase the amount you will accrue interest against to $8,840.
- (2) Interest rates are fixed and never vary.
- (3) Graduation dates are determined by the school, and full repayment begins 2 months after that date.
- (4) General Annual Percentage Rate (APR): finance charge and monthly payments are based upon borrowing $8,500, a 4.0% origination fee, paying interest on the loan for 8 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 $8,500, a 4.0% origination fee, paying interest on the loan for 8 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 $8,500 immediate repayment Skills Fund loan:
| Example on a $8,500 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) | $1,618 (3) | $3,030 (4) |
| Monthly Payment | $281 (3) | $192 (4) |
- (1) The 4.0% origination fee is assessed to all loans, and is added to the principal request, so for example, requesting $8,500 will result in a $340 origination fee that will be added to your loan balance and increase the amount you will accrue interest against to $8,840.
- (2) Interest rates are fixed and never vary.
- (3) General Annual Percentage Rate (APR): finance charge and monthly payments are based upon borrowing $8,500, a 4.0% origination fee, and paying interest and principal on the loan starting roughly one month after your loan is disbursed.
- (4) General Annual Percentage Rate (APR): finance charge and monthly payments are based upon borrowing $8,500, a 4.0% origination fee, and paying interest and principal on the loan starting roughly one month after your loan is disbursed.
QUALIFYING FOR SKILLS FUND FINANCING
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:
U.S. citizen or permanent resident (green card holder)
- A fair credit or better
- No bankruptcies or history of default on a public or private loan
Worried about your credit health? You may either add a cosigner to begin your loan application, 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.
TAKE 10 MINUTES & APPLY
ATTENTION APPLICANTS: When entering "Applicant Information" within your loan application, please select California (CA) as "the state of the school you plan to attend."
If you are a cosigner, begin the addendum now by clicking here.
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 Bloc 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.
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
﹀
HOW MUCH CAN I BORROW AND FOR WHAT SPECIFIC USES?
For Bloc's Designer or Web Developer Track, you may borrow from $2,000 to $15,000 for tuition.
HOW AND WHEN WILL I REPAY MY LOAN?
For Interest-Only Loans:
- You will start paying interest on your loan roughly one month after your loan is disbursed to the school. Disbursement occurs on the second Wednesday after program start.
- You will start making full monthly payments (interest plus principal) after your two-month post-graduation repayment grace period ends. This 60-day grace period helps you to keep your eye on finding the right job following program completion.
For Immediate Repayment Loans:
- You will start making full monthly payments (interest plus principal) roughly one month after your loan is disbursed to the school. Disbursement occurs on the second Wednesday after program 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.
WHAT IS THE DEFERMENT PERIOD?
The deferment period only refers to the interest-only loan types. Interest-only payments depend on how much you borrow: the less you borrow, the less you will pay.
For a 36-month $8,500 loan, the interest-only monthly payment is approximately $66. For a 60-month $8,500 loan, the interest-only monthly payment is approximately $81.
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 is 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 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.
WILL YOU CHECK MY CREDIT?
Yes, we will check your credit, including your credit score.
For other general questions about Skills Fund financing, please visit our Resource Center.
CONTACT US
- Questions about your Skills Fund Student Application?
- Please contact CustomerTrust@Skills.Fund or fill out the form below.