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)  Fixed 8.99% interest rate; estimated APR 10.8211.69% 
Fixed 10.99% interest rate; estimated APR 12.3612.71% 
Capitalization of Interest  InterestOnly Loans: Interest not capitalized unless payments not made. ImmediateRepayment Loans: Interest not capitalized unless payments not made. 

Payments Required While Enrolled?  InterestOnly 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. 

Grace Period  Twomonth period after the inschool period, following official program completion, and before interest and principal repayment begins. (3) InterestOnly Loans: Interestonly payments are required while in school and during the grace period. Immediate Repayment Type Loans: None, full repayments start roughly one month after loan is disbursed. 

PostGrace Period  InterestOnly Loans: Full repayments (principal and interest) are required. Immediate Repayment Type Loans: Full repayments (principal and interest) are required. 

Principal and Interest Repayment Term  36 months (3 years)  60 months (5 years) 
This example shows the monthly payments of a $9,600 interestonly Skills Fund loan for the Designer Track:
Example on a $9,600 loan  36 Month  60 Month 

Annual Percentage Rate  10.82% (4)  12.36% (5) 
Finance Charge (the dollar amount the credit will cost you)  $2,575.88 (4)  $4,335.96 (5) 
InterestOnly Monthly Payment  $74.80 (4)  $91.44 (5) 
Full Monthly (Interest and Principal) Payment  $317.44 (4)  $217.03 (5) 
This example shows the monthly payments of a $8,500 interestonly Skills Fund loan for the Web Developer Track:
Example on a $8,500 loan  36 Month  60 Month 

Annual Percentage Rate  10.82% (4)  12.36% (5) 
Finance Charge (the dollar amount the credit will cost you)  $2,280.73 (4)  $3,839.13 (5) 
InterestOnly Monthly Payment  $66.23 (4)  $80.96 (5) 
Full Monthly (Interest and Principal) Payment  $281.07 (4)  $192.16 (5) 
This example shows the monthly payments of a $9,600 immediate repayment Skills Fund loan for the Designer Track:
Example on a $9,600 loan  36 Month  60 Month 

Annual Percentage Rate  11.69% (3)  12.71% (4) 
Finance Charge (the dollar amount the credit will cost you)  $1,827.91 (3)  $3,421.59 (4) 
Full Monthly (Interest and Principal) Payment  $317.44 (3)  $217.03 (4) 
This example shows the monthly payments of a $8,500 immediate repayment Skills Fund loan for the Web Developer Track:
Example on a $8,500 loan  36 Month  60 Month 

Annual Percentage Rate  11.69% (3)  12.71% (4) 
Finance Charge (the dollar amount the credit will cost you)  $1,618.47 (3)  $3,029.54 (4) 
Full Monthly (Interest and Principal) Payment  $281.07 (3)  $192.16 (4) 