Description
With this option, you will receive a $1,600 loan from Fee Funders, spread over a 9-month term. The setup fee will be debited a few days after the loan is initiated. You’ll benefit from a 3-month deferred payment period, allowing you to focus on your studies without immediate financial pressure.
After your graduation, Reap will make every effort to help you secure employment. If they successfully place you in a job, they will repay your loan on your behalf and reimburse any payments you’ve made toward it. For more information on their Zero Fees promotion, please consult Reap.
Here are the details of the loan, which are also included in the loan documentation for this application:
- Amount Borrowed: $1,600
- Term: 9 Months
- Interest Rate: 2.95% per month
- Deferred Payment: 3 months
- Monthly Payment: $309.46 (for 6 months)
- Total Interest: $256.73
- Setup Fee: $165 (directly debited from your account after loan acceptance)
- Total Paid: $2,021.76 (standard course fees are $1,995)
- Loan Balance Paid by REAP Recruitment: If placed at any time during the 9-month loan period, making it effectively "Zero Fees."
If you have any questions or need further clarification, please feel free to reach out prior to completing this loan application
