Finance your Coder Foundry education today. Learn now, pay later.
Coder Foundry has partnered with Climb to provide financing options to our students. Applying is easy and takes most people just a few minutes. There's no cost to apply, so give it a shot. We'll try to work with you even if you have bad or limited credit.
Climb faqs
Information below is subject to change. Please visit Climb's Coder Foundry page for the most up-to-date details.
Q: WHO IS CLIMB?
Climb is a student financing company that works with next-generation education platforms. We started Climb to create a new approach to lending for new, alternative schools. Traditional funding for traditional higher education doesn't work. Students graduate deeply in debt, never earning enough to pay back their loans.
Climb is different. We scour the country to find the best sources of alternative education - education that really works. We then help students at these great schools get affordable financing for their tuition so that they can transform and improve their lives.
Q: WHAT CAN CLIMB OFFER ME?
- Quick decisions so you can start your education
- Fixed rates starting at 5% with low monthly payments
- Reduced payments while you’re in school and for some time after
- No pre-payment penalty
- Rad student support experience
Q: WHAT ARE YOUR INTEREST RATES?
Our rates are fixed, so that you don’t have to worry about your monthly payments changing. Our rates start at 5%, average at 9%, and cap out at 12%.
You can qualify for a lower rate with us if you apply with a Co-borrower (any loved one willing to pay if you can’t).
Q: WHO CAN USE CLIMB?
If you’re a US citizen or permanent resident who has been accepted into one of our partner schools – congratulations, you can use Climb!
If you’re under the legal age of your state, you can work with us as long as you apply with a Co-borrower who is of the legal age or older.
Q: HOW DO YOU PICK SCHOOLS TO WORK WITH?
Our philosophy is that too many students borrow money for an education that doesn’t help them. At Climb, we only finance education that we believe does. We carefully select partner schools, making sure that they truly help students transform their future earning potential. We survey alumni, speak with recruiters and continually monitor the job prospects for a school’s graduates. If a school meets our standards, we approve them as a partner.
APPLYING FOR FINANCING:
Q: HOW DO I APPLY?
Once you’re accepted into one of our partner schools, you’ll receive our application link from your campus director. Just click on our link using your laptop, tablet, or phone to apply
If you’re going to a school that doesn’t work with us yet, feel free to ask them about us or let us know that you’d like to get your school on the platform.
Q: HOW LONG WILL THE APPLICATION TAKE?
Most applicants complete our online application in just a few minutes. We know that your time is valuable, so we’ve kept our application as short as possible.
Q: CAN I APPLY EVEN IF I HAVE NO CREDIT OR BAD CREDIT?
Absolutely! You are more than just your credit score, and we take into account the transformative power of your education. With that said, we’d encourage you to apply with a Co-Borrower (any loved one willing to pay if you can’t), as this can strengthen your application and lead to a lower interest rate. Please reach out to us if you’d like to speak with a team member about your personal situation and we’d be happy to help!
Q: CAN I APPLY EVEN IF I’M ALMOST DONE WITH MY PROGRAM?
Yes, we’re happy to work with you and your school to make it happen.
Q: CAN I APPLY IF I’M A FOREIGN CITIZEN?
Unfortunately, we’re only able to work with US citizens and permanent residents at this time. We’re actively looking to expand our offerings to foreign citizens, so please shoot us a note if you’d like for us to work with students from your country.
RECEIVING YOUR LOAN:
Q: WHAT IS MY TOTAL LOAN AMOUNT?
You might notice that if you apply for a $10,000 loan with us, your total loan amount will be $10,500.
Like all lenders, we borrow money to lend to you. Most lenders charge you a higher rate than the one they borrowed at, and make money on the difference. We don’t do that, so that we can pass the lowest possible rate onto you.
With that said, to keep the lights on, we charge a 5% fee to cover all of the costs associated with making your loan happen. So that you don’t have to pay this fee upfront, we add it to the balance of your loan.
Q: HOW AND WHEN CAN I EXPECT TO GET MY LOAN FUNDS?
Once you’re approved for our loan, you can enroll in class right away (if you haven’t already). We’ll send the funds you borrow directly to the school.
Q: WHAT HAPPENS IF I DROP OUT OF THE PROGRAM?
If you decide not to pursue your education within the first 10 business days of class, we will cancel your loan. We don’t want students taking out loans for educations that they don’t receive! Just let us know as soon as possible. If you drop out later, we'll get whatever refund we can from the school, but you'll have to pay back the difference. If you're concerned about this, talk to your school about their specific refund policy.
PAYING BACK YOUR LOAN:
Q: WHEN DO I HAVE TO START PAYING BACK MY LOAN?
We think that you should learn now, pay later. Your first priority should be getting your education and finding a job, not worrying about making full payments.
That’s why we offer a grace period while you’re in school and for some time after. During this time, we ask you to pay just the interest on your loan. Even for a $10,000 loan, your grace period payment can be as low as $40 / month.
Q: HOW LONG DO I HAVE TO PAY BACK MY LOAN?
The maximum amount of time you have to pay back your loan depends on your school and program. We’ll adjust our loan to make sure that your monthly payments are low.
But you can pay any time before that, as there is no pre-payment penalty. You can repay a 6 year loan in 6 years, or 1 day.
Q: HOW MUCH DO I HAVE TO PAY PER MONTH?
You may borrow for tuition expenses (at all approved schools) and living expenses (at select schools) for the period you are enrolled in an approved school.
Q: WHAT RATES DO YOU CHARGE?
While you’re in school and for some time after, we’ll only ask that you pay the interest on your loan. This is so that you can focus on getting your education and finding a job without worrying about making full payments. Even for a $10,000 loan, your grace period payment can be as low as $40 / month.
After the grace period, we’ll start asking you to make full monthly payments. Taking into account your expected income, we strive to make payments as low as possible. You can also pre-pay at any time with no penalties, which will reduce your monthly payments as you’ll be paying interest on a smaller remaining amount.
Q: CAN I PRE-PAY (OR PAY OFF) MY LOAN EARLY?
Absolutely! You can pay back your loan, in whole or in part, at any time with no penalties.
Q: HOW DO I MAKE PAYMENTS ON MY LOAN?
You can pay via ACH (auto-pay from your bank account), credit card, or personal check. Most of our borrowers choose to pay by ACH, because they don’t have to worry about late payments. As an added bonus, we’re able to reduce your interest rate as long as you’re signed up for automatic ACH payments, which can save you hundreds of dollars over the life of your loan.
SECURITY & PRIVACY:
Q: WHAT IS CLIMB’S SECURITY POLICY?
We take data security and the privacy of your personal information very seriously. Our system is built with industry-leading security practices and regularly tested by our team and external experts. Please view our full Security & Privacy policy here.
Q: WHAT HAPPENS TO THE INFORMATION THAT I’VE SHARED WITH CLIMB?
Your securely stored data is only used for the purposes of verifying your identity and state of residence, underwriting your loan, and minimizing fraud. We do not sell your data or information.