ONE CLICK TO SECURE FINANCING & ENROLL AT DIVERGENCE ACADEMY

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Tuition + Living Expense Financing

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Clearly Defined Interest Rates

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Ease of Application + Credit Review

Empowered Decisions

No teaser rates, cosigner trickery, nor barriers ahead. Expect clear-cut and upfront loan terms to jump start your transformative journey.

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Calculate Your Monthly Payment Now

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No Income nor Employment Data Used in Underwriting

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Full-Time and Part-Time Program Financing

FLEXIBLE FINANCING OPTIONS

Only finance what you need: borrow from $2,000 to your applicable program max for tuition and cost of living.

  • Full-Time Programs: Make interest-only payments in program and for two months following graduation. Example loan amounts and estimated payments can be found below.
  • Part-Time Programs: Start making full payments (interest + principal) one month after your program starts. Example loan amounts and estimated payments can be found below.

Here's what you need to know:

  • To apply for cost of living, borrow at least $2,000 in tuition
  • Scholarships may be applied to financing at any time - just let us know!
  • You'll pay the cash deposit directly to Divergence Academy
  • Your cohort start date must be within 90 days of submitting your application.
  • Questions? Please email CustomerTrust@Skills.Fund

FULL-TIME PROGRAMS

PROGRAM TUITION
+
COST OF LIVING
TOTAL LOAN MAX
Data Science Immersive $17,000
+
$4,500
$21,500
Cybersecurity Core Program $13,000
+
$4,500
$17,500
Cybersecurity Pen Testing and Risk Management $18,000
+
$4,500
$22,500

PART-TIME PROGRAMS

PROGRAM TUITION
(COST OF LIVING NOT AVAILABLE)
TOTAL LOAN MAX
Cybersecurity Core Program $13,000 $13,000
Cybersecurity Pen Testing and Risk Management $18,000 $18,000

LOAN CALCULATOR

Select a repayment amount that works best for you:

Please enter a number between 2,000 and 22,500 without punctuation

For Divergence Academy, students may borrow from $2,000 to $22,500 depending on program

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

*General APR - General Annual Percentage Rate. The APR shown is a general calculation based upon an example loan amount, 4.0% origination fee, and varying program length. An actual APR calculation is based upon an individual borrower's specific details, so it may deviate slightly from the general APR example provided above.

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 Interest-Only type loans: no interest will be capitalized.
Immediate Repayment type loans: none, since interest payments are mandatory 30 days after the loan is disbursed.
Payments Required While Enrolled? Interest-Only type loans: monthly interest payments are required.
Immediate Repayment type loans: yes, full (interest + principal) payments are mandatory 30 days after the loan is disbursed.
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 for the Full-Time Programs:

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 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 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 $10,000 Immediate Repayment Skills Fund loan for the Part-Time Programs:

Example on a $10,000 loan 36 Month Loan 60 Month Loan
General Annual Percentage Rate 11.69% (4) 12.71% (5)
Finance Charge (the dollar amount the credit will cost you) $1,904 (4) $3,564 (5)
Interest-Only Monthly Payment $0 (4) $0 (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.
  • (4) General Annual Percentage Rate (APR): finance charge and monthly payments are based upon borrowing $10,000, a 4.0% origination fee, and paying interest and principal on the loan starting one month after your program start date.
  • (5) General Annual Percentage Rate (APR): finance charge and monthly payments are based upon borrowing $10,000, a 4.0% origination fee, and paying interest and principal on the loan starting one month after your program start date.

TAKE 10 MINUTES & APPLY

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 Divergence Academy 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.

SELECT YOUR DIVERGENCE ACADEMY PROGRAM







If you are a cosigner begin the addendum now by clicking here.

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

I WANT TO APPLY FOR A LOAN >

Do I qualify for a Skills Fund loan?

We’ve worked closely with Divergence Academy to provide students - of all backgrounds and walks of life - access to competitive financing. As long as you meet the basic underwriting criteria - such as you are a US citizen / permanent resident, with no recent bankruptcies nor history of default on a public or private loan - you'll most likely qualify for a Skills Fund loan.

HOW MUCH CAN I BORROW AND FOR WHAT SPECIFIC USES?

The maximum amount you can borrow will depend on your program.

  • For the Data Science Immersive program, students may borrow from $2,000 to $21,500 ($17,000 for tuition and $4,500 for cost of living).
  • For the Cybersecurity Core Program - Full Time program, students may borrow from $2,000 to $17,500 ($13,000 for tuition and $4,500 for cost of living).
  • For the Cybersecurity Core Program - Part Time program, students may borrow from $2,000 to $13,000 for tuition. Cost of living financing is not available for Part Time programs.
  • For the Cybersecurity Pen Testing and Risk Management - Full Time program, students may borrow from $2,000 to $22,500 ($18,000 for tuition and $4,500 for cost of living).
  • For the Cybersecurity Pen Testing and Risk Management - Part Time program, students may borrow from $2,000 to $13,000 for tuition. Cost of living financing is not available for Part Time programs.

I NEED TUITION & COST OF LIVING. HOW DO I SELECT THE AMOUNT I WANT FOR EACH?

Within the loan application, you will find two fields for financing: one for tuition and one for cost of living. Within each field, you are able to input the precise amount you would like to borrow. Students are required to take at least $2,000 in tuition financing in order to receive any cost of living financing.

Should you want to apply for a scholarship through Divergence Academy, it is recommended to apply for max tuition financing, and once your scholarship is awarded, please email CustomerTrust@Skills.Fund with your scholarship amount. Skills Fund will then downward adjust your requested tuition financing. This will prevent you from having to apply for additional funds, should you not be awarded your scholarship, as loans may not be upward adjusted.

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 Divergence Academy, 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.

WHAT IS THE DEFERMENT PERIOD?

  • For Interest-Only Loans: 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.
  • For Immediate Repayment Loans: There is no deferment period. Full repayments start roughly 30 days into program.

HOW MUCH ARE INTEREST PAYMENTS DURING THE DEFERMENT PERIOD?

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.

Note that even though the 60-month loan has higher interest payments during the deferment phase, it has lower monthly payments during the 60 months full repayment phase than the 36-month loan. Please see terms at the bottom of the page.

DO I NEED A COSIGNER?

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 be given the opportunity to amend your application with a cosigner.

WHAT INFORMATION DO I NEED TO PROVIDE SKILLS FUND?

During the loan application process, we will ask you for the following information:

  • Full name
  • Address
  • Email and other contact information
  • Social Security Number
  • Date of Birth
  • Loan amount requested
  • Three personal references
  • Cosigner information (if applicable)

WHEN CAN I APPLY FOR A LOAN?

Apply for the loan after your acceptance into a program. Your program cohort must begin within 90 days of the date that you apply for a loan.

WILL YOU CHECK MY CREDIT?

Yes, we will check your credit, including your credit score.

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.

I'VE APPLIED FOR A LOAN >

HOW DO I KNOW IF I’VE BEEN APPROVED FOR A LOAN?

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 Divergence Academy. If you are not credit approved, you may be given the opportunity to amend your application with a cosigner.

WHEN WILL I RECEIVE MY LIVING STIPEND?

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.

WHAT HAPPENS TO MY LOAN IF I DROP OUT FROM MY PROGRAM?

Regarding your tuition: You are responsible for the full amount you borrow, plus accrued interest and fees. If you are owed a refund by Divergence Academy, 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 Divergence Academy 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: 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.

I'M READY TO REPAY MY LOAN >

HOW AND WHEN WILL I REPAY MY LOAN?

For Interest-Only loans: You will begin making interest-only payments one month into program and continue through two months following graduation.

For Immediate Repayment loans: You will start making full payments (interest + principal) one month after your program start date.

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

CAN I PAY MY LOAN FASTER THAN THE INITIAL TERM?

Yes, you can pre-pay your loan at any time without penalty.

ABOUT SKILLS FUND >

WHO IS SKILLS FUND?

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.

WHO IS SOUTHEAST BANK AND HOW IS IT RELATED TO SKILLS FUND?

Southeast Bank is a Tennessee-chartered bank, and is the lender for all Skills Fund loans.

WHO IS ASPIRE RESOURCES INC. AND HOW IS IT RELATED TO SKILLS FUND?

Aspire Resources Inc. is a wholly owned, for-profit subsidiary of Skills Fund's non-profit partner, Iowa Student Loan. Aspire Resources Inc. provides post-disbursement customer service on behalf of Skills Fund, and Aspire's logo will be seen within communications specific to your Skills Fund loan.

HOW DO I ASK MORE QUESTIONS NOT COVERED IN THIS FAQS SECTION?

We are more than happy to answer any additional question you might have. Just fill the form below and we will be in touch soon!

CONTACT US