Ada Developers Academy Loans

Loans to assist with living expenses while in Ada

Craft3 and Ada Developers Academy have teamed up to offer an affordable loan for participants. Anyone enrolled in the program becomes eligible to apply for an affordable loan of up to $14,700 for up-front funds for the transition to Ada plus living expense during the instruction session.

This loan is very accessible. Loan repayment begins after instruction and internship terms are complete and features inclusive approval criteria - even to those with less than perfect credit scores.

Loan Features and Benefits (for Ada cohort #6 participants)
  • Loans up to $14,700
  • Interest rate of 3.95% (4.38% APR)
  • First disbursement available up to two weeks prior to program start
  • Five-year term
  • No payments due until program and internship are completed (12 months)
  • Loan accessible to most applicants
Sample Loan Terms
Interest Rate 3.95% (4.38% APR)
Repayment Terms* No monthly payments required during 12-month ADA Program term (finance charges accrue from date of loan funding), followed by 4-year repayment term.
Example $14,700 + $200 loan fee = $14,900 Loan Amount.

No monthly payments required for 12 months, followed by 48 monthly payments of $350 each.

*Finance charges accrue during deferred payment period. Repayment term begins immediately if borrower withdraws from ADA. Loan availability, terms and conditions current as of 11/15/16, applicable to Ada cohort #7 participants and are subject to change. Loan example includes lender loan fee of $200. Not all applicants will qualify.