Skills Fund

Name

Skills Fund

Legal name

Skills Fund, LLC

Website

https://skills.fund

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Private Education Lending

NAICS

Educational Support Services (611710), Other Grantmaking and Giving Services (813219)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Career Training & Bootcamp Financing (ISA & Installment) (FSAKAEAI)

akta.pro secondary industries

Scholarships, Grants & Education Benefits Administration (Financing-adjacent) (FSAKAEAM), Corporate & Employer-Sponsored Scholarships (EDAIAOAI), Scholarships, Grants & Donor-Funded Awards Management (EDALAJAB)

Keywords

• Private student lending
• Career training loans
• Bootcamp financing
• Outcomes-based lending
• Education financing

Headquarters

HQ city

Austin

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Career Training Consumer Loans: Consumer loans for career training and bootcamp programs. Origination fee of 5.0% added to loan principal. Borrowers select from multiple repayment plans including interest-only, minimum payment, or deferred repayment options. Interest accrues during school with various payback timelines.
2. College Student Loans: Private student loans for undergraduate and graduate programs including cosigned and non-cosigned (outcomes-based) options. Revenue generated through interest on loan balances, origination fees, and autopay discounts. No late or NSF fees on college loans.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

Skills Fund, LLC (d/b/a Ascent Skills Funding) is a consumer lending subsidiary of Ascent Funding that originates private loans covering up to 100% of tuition for career training, bootcamp, and skilled trades programs. The company uses an outcomes-based underwriting model that evaluates academic progress, program completion, and career readiness alongside traditional credit, supplemented by cosigned and non-cosigned loan variants, interest-free Zero Percent Loans for workforce development programs, and supporting tools such as the AscentUP platform and AscentConnect mobile app.

Product overview

Skills Fund, LLC (d/b/a Ascent Skills Funding) is a consumer lending subsidiary of Ascent Funding that specializes in financing for career training and bootcamp programs. The company's core product is the Career Training Loan, offered as cosigned and non-cosigned options, covering up to 100% of tuition with a 5.0% origination fee. Additional offerings include Zero Percent Loans (interest-free workforce development loans in partnership with The Forward Fund) and Short-Term Loans for shorter programs. Skills Fund complements its lending products with student support services including AscentUP (free asynchronous career training platform), AscentConnect mobile app for loan management, scholarship giveaways (over $355,000 awarded), 1% cash back graduation rewards, and a refer-a-friend program. Loan servicing is handled through Launch Servicing, LLC with funds disbursed directly to partner schools.

Differentiator

Problem solved

Functional benefit

Products and services

• Career Training Loan Consumer loan covering up to 100% of tuition (minimum $2,000; maximum up to school tuition not exceeding $40,000) for career training and bootcamp programs, with flexible repayment plans (interest-only, minimum payment, deferred, or immediate), 1% autopay discount, and optional living expense coverage for qualifying borrowers. Subject to 5.0% origination fee.
• Cosigned Career Training Loan Career training loan variant that requires a creditworthy cosigner, offering access to better interest rates and higher borrowing limits for applicants with limited or no credit history.
• Non-Cosigned Career Training Loan Career training loan variant for students applying without a cosigner, underwritten based on creditworthiness and other qualifying factors rather than a cosigner's credit profile.
• Short-Term Loan Variant of the Career Training Loan designed for shorter training programs with a minimum borrowing amount of $1,000 ($6,001 for Massachusetts residents).
• Zero Percent Loan Interest-free workforce training loan offered in partnership with The Forward Fund for adult learners in high-demand trades, with minimal underwriting, 90%+ approval rate, no interest or fees, payment deferral if income threshold is not met, and living stipends.
• Graduate Outcomes-Based Loan New outcomes-based loan product for graduate students that evaluates expected post-graduation earning potential rather than current credit profile, offering manageable loans after advanced program completion.
• Aviation Loan Program Loan program designed for early-career aviation pathways, evaluating students based on expected starting income rather than current credit history or cosigner access, for flight training that often exceeds $100,000 and is frequently ineligible for federal aid.

Quantifiable outcome

• 220,000+ borrowers funded with over $2 billion in education loans
• +4 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core and secondary.

• NCAHEC (North Carolina Area Health Education Centers)coreStrategic or Co-development Partner · 1 May 2025Partnership to address North Carolina's projected shortage of nearly 12,500 RNs by 2033. Provides alternative financing solutions for nursing students through The Forward Fund initiative.
• The Forward FundcoreStrategic or Co-development Partner · 4 December 2024$7 million fund partnership to provide 0% interest loans for adult learners in workforce training programs. Initial focus on Cape Fear Community College Electrical Lineworker Training Program. Loan repayments tied to career outcomes and cycled back to fund future learners. 98% of participants didn't have a cosigner, 93% from low-income backgrounds.
• Social FinancesecondaryStrategic or Co-development PartnerColorado-based Forward Fund partnership supporting workforce training programs at The Master's Apprentice and CareerDash. Combines social impact financing with Ascent's lending expertise.
• CooleysecondaryImplementation/ SI/ Consulting PartnerLegal advisor to Ascent for Series C financing round.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• SoFi: Public fintech offering private student loans (undergraduate, graduate, parent, refinance) alongside broader consumer lending. Most direct national-scale competitor in private student lending with comparable target customer and outcomes-based positioning on certain products.
• College Ave Student Loans: Private student loan provider offering undergraduate, graduate, and parent loans marketed through schools and direct-to-consumer. Closely comparable product portfolio and distribution model targeting similar borrower segments.
• LendKey: Lending-as-a-service platform connecting credit unions and community banks with student loan borrowers. Comparable in distributing education financing through partner institutions rather than direct bank balance sheet.
• Nelnet: Major student loan originator and servicer with deep institutional relationships and a full suite of private student loan products. Directly competes in the same school-channel distribution model and private student loan category.
• CommonBond (now part of KeyBank): Originally a fintech private student loan provider with technology-led underwriting and a school-channel model; now part of KeyBank. Closely aligned with Skills Fund's mission-driven, technology-forward approach to student lending.
• Earnest (Navient): Originally an online lender using alternative underwriting (now operating under Navient), historically a direct competitor in private student loans and refinancing with technology-driven underwriting comparable to Skills Fund's outcomes-based approach.
• Splash Financial: Student loan refinancing and lending marketplace using a partner-bank model similar to Skills Fund's approach. Comparable technology-driven underwriting and channel-partner distribution.
• Prodigy Finance: International student loan provider focused on graduate and professional students using future-earnings-based underwriting for credit-invisible international borrowers. Directly comparable outcomes-based model for non-traditional and international segments.

Broad incumbents

• Discover Student Loans: Large incumbent private student loan product offered by Discover Financial across undergraduate, graduate, and parent categories. Competes for the same borrower base as part of a broader consumer financial services portfolio.

Emerging players

• MPower Financing: Fintech focused on loans for international and DACA students without cosigners, using future-earning potential in underwriting. Emerging player with meaningful overlap on outcomes-based lending to credit-invisible borrowers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCDLChZc_D-c4OyKNHa5Y3lA
• Xx.com/skills_fund
• Facebookfacebook.com/skillsfunded
• LinkedInlinkedin.com/company/skills-fund

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Skills Fund