When do
repayments start?
When do repayments start?
When do repayments start?
Repayments start after graduation once you find a job and begin earning.
If you lose your job or your income drops below your comfortable cost-of-living threshold (determined based on where you live), repayments pause automatically.
Repayments start after graduation once you find a job and begin earning.
If you lose your job or your income drops below your comfortable cost-of-living threshold (determined based on where you live), repayments pause automatically.
Repayments start after graduation once you find a job and begin earning.
If you lose your job or your income drops below your comfortable cost-of-living threshold (determined based on where you live), repayments pause automatically.
How much
do you repay?
How much do you repay?
How much do you repay?
Your repayments are based on your disposable income.
Income after taxes
- Comfortable cost-of-living threshold
= Disposable income
We set a minimum monthly contribution from your disposable income, based on the total amount you initially receive from Skillsvest, which you pay back before covering your other existing financial commitments.
Your repayments are based on your disposable income.
Income after taxes
- Comfortable cost-of-living threshold
= Disposable income
We set a minimum monthly contribution from your disposable income, based on the total amount you initially receive from Skillsvest, which you pay back before covering your other existing financial commitments.
Your repayments are based on your disposable income.
Income after taxes
- Comfortable cost-of-living threshold
= Disposable income
We set a minimum monthly contribution from your disposable income, based on the total amount you initially receive from Skillsvest, which you pay back before covering your other existing financial commitments.
What limits
repayment?
What limits repayment?
What limits repayment?
You pay back your monthly contributions until you meet any of the following conditions:
You've repaid 2× what you received
The contract’s return target (APR) is met, or 4-8 years have passed since graduation.
After that, any remaining amounts are waived.
You pay back your monthly contributions until you meet any of the following conditions:
You've repaid 2× what you received
The contract’s return target (APR) is met, or 4-8 years have passed since graduation.
After that, any remaining amounts are waived.
You pay back your monthly contributions until you meet any of the following conditions:
You've repaid 2× what you received
The contract’s return target (APR) is met, or 4-8 years have passed since graduation.
After that, any remaining amounts are waived.
How Skillsvest is different from loans
How Skillsvest is different from loans
How Skillsvest is different from loans
APR (Annual Percentage Rate) simply means how much extra you pay per year for the money you receive.
e.g. If you receive $10,000 and repay $13,000 after one year → that’s a 13% APR.
APR (Annual Percentage Rate) simply means how much extra you pay per year for the money you receive.
e.g. If you receive $10,000 and repay $13,000 after one year → that’s a 13% APR.
APR (Annual Percentage Rate) simply means: How much extra you pay per year for the money you received.
e.g. If you receive $10,000 and repay $13,000 after one year → that’s 13% APR.
TRADITIONAL LOANS
With a traditional loan:
Interest compounds.
There is no maximum repayment.
The longer you take, the more you owe.
If you borrow $10,000 at 13% interest and repay it after 5 years with compounding, you might end up paying around $16,500 in total.
But if things go wrong – for example, you return to a lower-paying home country or struggle to find employment – the balance can continue growing. Over time, you could end up owing $20,000–$35,000 or more because the longer you take, the more interest keeps compounding.
There is no hard stop.
TRADITIONAL LOANS
With a normal loan:
Interest compounds.
There is no maximum repayment.
The longer you take, the more you owe.
If you borrow $10,000 at 13% and repay it after 5 years with compounding, you might end up paying around $16,500 in total.
But if things go wrong, for example, you return to a lower-paying home country or struggle to find employment, the balance can continue growing. Over time, you could end up owing $20,000–$35,000 or more, because the longer you take, the more interest keeps compounding.
There is no hard stop.
TRADITIONAL LOANS
With a normal loan:
Interest compounds.
There is no maximum repayment.
The longer you take, the more you owe.
If you borrow $10,000 at 13% and repay it after 5 years with compounding, you might end up paying around $16,500 in total.
But if things go wrong, for example, you return to a lower-paying home country or struggle to find employment, the balance can continue growing. Over time, you could end up owing $20,000–$35,000 or more, because the longer you take, the more interest keeps compounding.
There is no hard stop.
SKILLSVEST
With Skillsvest, repayments stop once any of the following conditions is met:
You reach your APR cap (17–22%)
You repay 2–2.5x the original amount
4–8 years after graduation (the remaining amount is waived)
There is always an end.
SKILLSVEST
With Skillsvest, repayments stop when any one of these happen:
You reach your APR cap (18-22%)
You repay 2-2.5x the original amount
6 -8 years after graduation (the remaining amount is waived)
There is always an end.
SKILLSVEST
With Skillsvest, repayments stop when any one of these happen:
You reach your APR cap (18-22%)
You repay 2-2.5x the original amount
6-8 years after graduation (the remaining amount is waived)
There is always an end.
Example
You receive $10,000.
Case 1: You repay quickly
You repay $14,000 in 2 years → around 20% APR.
Payments stop.
Case 2: You take longer
You repay $20,000 over 6 years. This is 4 years after graduation.
Your total repayment will be capped at $20,000, as that is the maximum you will ever repay. This means your APR/interest rate drops to 12.5%
The longer you take to repay, the effective rate drops. This ensures students are never indebted indefinitely and serves as a safeguard against paying back significantly more.
Case 3: Worst case
Let’s say you can repay only $6,000 over 6 years, due to joblessness, illness or other unfortunate circumstances.
The rest of the amount you owe Skillsvest, is waived at that point. So you will pay only $6,000.
The Key Difference
With traditional loans, the longer you take, the more you owe.
With Skillsvest, if you struggle to get a job/it takes a while to get a job, your effective APR decreases and payments always have an end date.
Example
You receive $10,000.
Case 1: You repay quickly
You repay $14,000 in 2 years → around 20% APR.
Payments stop.
Case 2: You take longer
You repay $20,000 over 6 years, that is 4 years after graduation.
Your total repayment will be capped at $20k, as that is the max you will ever repay. This means your APR/Interest rate drops to 12.5%
The longer you take to repay, the effective rates drop. This is given to ensure students are never indebted forever and a safeguard against paying back significantly more.
Case 3: Worst case
Let’s say you can repay only $6,000 over 6 years, due to joblessness, sickness, unfortunate circumstances etc.
The rest of the amount that you owe Skillsvest, is waived at that point. So you will pay only 6000 dollars.
The Key Difference
With traditional loans, time increases what you owe.
With Skillsvest, if you struggle to get a job/it takes a while to get a job, your effective APR reduces and payments always have an end date.
Example
You receive $10,000.
Case 1: You repay quickly
You repay $14,000 in 2 years → around 20% APR.
Payments stop.
Case 2: You take longer
You repay $20,000 over 6 years, that is 4 years after graduation.
Your total repayment will be capped at $20k, as that is the max you will ever repay. This means your APR/Interest rate drops to 12.5%
The longer you take to repay, the effective rates drop. This is given to ensure students are never indebted forever and a safeguard against paying back significantly more.
Case 3: Worst case
Let’s say you can repay only $6,000 over 6 years, due to joblessness, sickness, unfortunate circumstances etc.
The rest of the amount that you owe Skillsvest, is waived at that point. So you will pay only 6000 dollars.
The Key Difference
With traditional loans, time increases what you owe.
With Skillsvest, if you struggle to get a job/it takes a while to get a job, your effective APR reduces and payments always have an end date.