YOUR LAST STEP ON THE PATH TO CHANGING YOUR CAREER

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Finance The Full Cost of Tuition & Tools

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Pay Only Interest for the First 5 Months

THE SAME LOW RATE FOR ALL

Below you'll find your honest & upfront rate, even if you opt to add a cosigner.

  • Borrow from $2,000 up to $11,730 for tuition & supplemental costs (certification, equipment, tools, & CDL fee)

  • Make low interest payments for the first 5 months

  • Starting at month 6, you'll begin full repayment

Now, let's calculate your full monthly repayment (interest + principal):

Please enter a number between 2,000 and 11,730 without punctuation

Students may borrow from $2,000 to $11,730

36-Month Term
at 8.99% Interest Rate
11.16% General* APR
$ 330.67 /mo
or
60-Month Term
at 10.99% Interest Rate
12.51% General* APR
$ 226.07 /mo

*The General Annual Percentage Rate (APR) shown is a general calculation. 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.
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.
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
General Annual Percentage Rate 11.16% (4) 12.51% (5)
Finance Charge (the dollar amount the credit will cost you) $2,294 (4) $4,040 (5)
Interest-Only Monthly Payment $78 (4) $95 (5)
Monthly Payment $331 (4) $226 (5)
  • (1) The 4.0% origination fee is assessed to all loans, and is added to the principal request, so for example, requesting $10,000 will result in a $400 origination fee that will be added to your loan balance and increase the amount you will accrue interest against to $10,400.
  • (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 $10,000, a 4.0% 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 4.0% 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.

HERE'S HOW WE'LL GET YOU APPROVED

We believe in you & your future, so we do not use income or employment history in our credit decision. Here's what will get you approved:

  • U.S. citizen or permanent resident (Green Card holder)

  • A fair credit score or better
  • No history of loan default or bankruptcy

Don't check the credit history boxes? Add a cosigner and secure the same low rate.

TAKE 10 MINUTES & APPLY

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 NALTC 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 the Lineworker Training program, you may borrow from $2,000 to $11,730 ($8,700 for tuition, and $3,030 for your certification, equipment, tools, & CDL fee).

I AM APPLYING FOR A SCHOLARSHIP. SHOULD I WAIT TO APPLY FOR FINANCING?

You may apply for financing in parallel to applying for your scholarship. If you are awarded your scholarship prior to the disbursement of your tuition financing to NALTC, please email CustomerTrust@Skills.Fund with the amount of your scholarship, and your tuition will be downward adjusted.

Should you receive your scholarship following the second Wednesday after program start, you can apply your funds to your loan balance at any time without pre-payment penalty.

Please note: Should you want to apply for a scholarship, it is recommended to apply for max tuition financing, and once your scholarship is awarded, Skills Fund can downward adjust your requested tuition financing. This will prevent you having to apply for additional funds, should you not be awarded your scholarship, as loans may not be upward adjusted. Simply email CustomerTrust@Skills.Fund with your approved scholarship amount.

HOW AND WHEN WILL I REPAY MY LOAN?

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.

Upon loan acceptance, we will provide you with several options for making payments, including automated payments. You may create an account at www.AspireServicingCenter.com at any time to manage payments and account balance.

WHAT IS THE DEFERMENT PERIOD?

The deferment period is defined as the time you are attending the course, plus an additional two months after completion. These additional two months are considered your repayment grace period.

Interest only payments are required during the deferment period. After the deferment period ends, payments of principal and interest are required.

HOW MUCH ARE INTEREST PAYMENTS DURING THE DEFERMENT PERIOD?

The interest only payments depend on how much you borrow; the less you borrow, the less you will pay.

For a 36-month $10,000 loan, the interest only monthly payment is approximately $78. For a 60-month $10,000 loan, the interest only monthly payment is approximately $95.

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 included in the total loan principal amount you finance. This fee helps cover the administrative fees associated with originating the loan and 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.

For other general questions about Skills Fund financing, please visit our Resource Center.

CONTACT US